Ways to Give
Contact Michael Hecht to talk about these
and other giving options.
Careful planning can help you maximize the tax benefit of your charitable giving strategy. Tax implications can vary depending on the assets involved. Consult your tax and financial advisors to determine the most efficient assets, timing, amount, forms of gifts to contribute, and tax implications for your specific financial situation.
Cash
Receive a charitable income tax deduction of up to 30% of your adjusted gross income in the year your donation is made.
Wills & Living Trusts
When you include a gift to the foundation in your will or revocable trust for a percentage of your estate or a specific dollar amount, your beneficiaries can receive a dollar-for-dollar charitable deduction against any estate taxes owed. It’s an easy way to reduce your family’s tax liability, support the foundation’s work, and build your chapter legacy.
Appreciated Assets
You may be able to reduce or eliminate federal capital gains taxes by donating highly appreciated assets such as securities, mutual funds and real estate to the work of the foundation. Also consider giving through charitable trusts which allow you to give assets to the foundation and create an income stream for yourself or pass on a portion of those assets to your children.
IRA Transfer
When you’re 70 ½ or over, you can donate up to $105,000 a year from your traditional or Roth IRA directly to the foundation without having to pay income taxes on the amount. The year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution tax obligation.
Thank you for your generosity and support of the Gamma Kappa Legion of Honor Foundation!
The determination letter of the GKLHF’s Section 501(c)(3) status issued by the Internal Revenue Service can be provided to a donor upon request.