Planned Giving
United for the Future
It is easy to include United Way of the National Capital Area in your will, estate and planned giving. Here are some of the most popular ways to give.
1.) Name United Way NCA as a Beneficiary in your Will
A bequest provision can be included in your will when you draft it or as a codicil amending your existing will. This arrangement provides you with flexibility and control should your circumstances change. You can designate an exact amount, an asset or a percentage of the assets in your estate. We can provide you with the necessary details for including United Way NCA in your will. To get started, head to freewill.com/unitedway.
2.) IRA Charitable Rollover
The IRA charitable rollover is a great way for you to make a gift to support United Way NCA. These gifts will help sustain our important work in the community.
The IRA rollover allows donors 70.5 years or older to transfer up to $100,000 directly from their IRA to United Way NCA on an annual basis. An IRA rollover gift is a tax-exempt distribution. Qualifying individuals can make charitable gifts using pre-tax IRA assets rather than taking a distribution, paying income taxes and using after tax assets to make a charitable gift. An IRA rollover gift can be used to meet all or part of an IRA’s annual required minimum distribution.
For example, Frances, a donor, has an IRA from which she must now make minimum required distributions. After a discussion with a United Way NCA gift officer, she decides to give directly to United Way NCA, directing $15,000 of her annual minimum distribution to the organization, thereby avoiding any additional income taxes, as well as knowing that her gift will help strengthen her community. She pledges to continue making IRA rollover gifts in future years.
3.) Make an Outright Gift of Cash, Appreciated Stock or Real Estate
This is an excellent technique for individuals in the highest tax bracket, those who have sold a business or those who have received a significant bonus and could benefit from an immediate tax deduction.
For example, Mary and Bob are both highly paid professionals and received large bonuses this year. Unfortunately, a significant portion of this year’s bonus will go to taxes. Mary and Bob also have a stock portfolio of highly appreciated stock. They decide to contribute stock they purchased many years ago for $50,000 that is now worth $200,000. Because this stock is being transferred to United Way NCA, they will not have to pay capital gains tax. United Way NCA will benefit and Mary and Bob will receive a significant income tax deduction.
4.) Charitable Gift Annuity
Are you looking for a way to provide yourself or a loved one with a fixed payment for life while leaving a lasting legacy in your community? If so, a charitable gift annuity might be the right option for you. A charitable gift annuity is a contract between you and United Way NCA in which you transfer cash or appreciated assets in exchange for a guaranteed, fixed payment for life. Best of all, you receive a charitable deduction for the value of the future gift to United Way NCA and the satisfaction of helping to guarantee United Way NCA will continue its work in providing needed services to our communities. Charitable gift annuities can be set up with one or two income beneficiaries. The minimum age is 60 years old and the minimum amount to establish an annuity is $25,000. Payments can be made on a quarterly, semiannual or annual basis.
For example, Sarah is a loyal contributor. She’s retired and a volunteer with United Way NCA. After reading about the charitable gift annuity and understanding the benefits, Sarah decides to establish a charitable gift annuity for $50,000. Based on her age of 70 years old, she will receive a yearly annuity of $2,550 for the rest of her life. She will also receive a nice charitable deduction of $20,496. Sarah feels a sense of pride knowing when she passes, her gift will assist United Way NCA in improving the health, education and economic opportunity of every person in our community.
We welcome the opportunity to discuss options to help you ensure your legacy. Contact philanthropy@uwnca.org for more details.
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