With a planned gift, you can put your assets to work in support of The Education Foundation. The following information introduces the many gift options available. If one of these strategies seems right for you, we invite you to contact us to learn more.
Did you know that there are a host of creative ways to support The Education Foundation? Many ways will benefit you and The Education Foundation at the same time.
Such giving techniques are called “planned gifts” because with thoughtful planning, you create win-win solutions for you and The Education Foundation. For example:
- You can make a gift that costs nothing during your lifetime
- You can give stock and realize larger tax savings
- You can donate your house, continue to live there, and get a tax break all at the same time
Where to begin?
- Identify your goals
- Discover gifts that anyone can afford
- See how gifts can pay you income
- Explore gifts that protect your assets
Gifts of Property
Real estate might be a perfect gift to The Education Foundation because normally the sale of appreciated real estate often leads to capital gains taxes, real estate agent and attorney fees and more. Many of these taxes can be avoided by involving a non-profit organization in your plans. Some donors may even choose to occupy the property for their life, with the asset becoming valuable to The Education Foundation upon death.
Appreciated Securities
A gift of appreciated securities that you have held for more than one year can sometimes be the most economical way to give. You will be eligible to take a federal income tax deduction equal to the fair market value of the stock on the date of the gift (for up to 30 percent of your adjusted gross income) and will not have to recognize the appreciation as capital gain.
To download a form to contribute appreciated securities/stock, click here. If you have questions, please contact Samina Hussain at 847-626-3957.
Tribute Gifts
Tribute Gifts are a thoughtful way to honor or remember a special person in your life. We acknowledge all tribute gifts with a special letter to the recipient.
Bequest From Your Will or Trust
We invite you to consider including a gift to The Education Foundation in your will or living trust. Called a charitable bequest, this type of gift offers many benefits, including simplicity, flexibility and tax relief.
How It Works
- Include a gift to The Education Foundation in your will or trust.
- Make your bequest restricted or direct it to a specific purpose.
- Indicate a specific amount or a percentage of the balance remaining in your estate or trust.
Benefits
- Your assets remain in your control during your lifetime.
- You may modify your gift to address changing circumstances.
- You may direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as directed)
- Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
Please let us know if you have already included The Education Foundation in your estate plan or if you are considering doing so. We would love to hear from you.
Giving From Your Retirement Plan
You’ve worked hard and planned for retirement. Now, with a little creativity, you can leverage your retirement assets to benefit you and your family, reduce Uncle Sam’s cut, and support The Education Foundation far into the future.
There are several ways to contribute:
Donation:
There may be special Income Tax benefits if you make a contribution to The Education Foundation directly from your IRA account. Consult with your plan administrator and if you would like to make a contribution, please contact Samina Hussain, samhus@d219.org for a copy of the Foundation’s tax exempt letter. Contributions by check should be made out and mailed to: The Education Foundation, 7700 Gross Point Road, Skokie 60077
Name the Foundation as a Beneficiary:
How It Works
- Name The Education Foundation as a beneficiary of your IRA, 401(k), or other qualified retirement plan
- Pass the balance of your retirement assets to The Education Foundation by contacting your plan administrator
- Important – tell The Education Foundation about your gift. Your plan administrator is not obligated to notify us. So if you don’t tell us, we may not know.
Benefits
- Continue to take regular lifetime withdrawals.
- Maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
- Your heirs avoid the potential double taxation on the assets left in your retirement account.
A Second Gift Option
You can also consider creating a charitable remainder trust for heavily taxed retirement plan assets. Such a trust could be set up to receive the proceeds of your retirement plan at your death. The trust would pay income for life to a family member of your choosing, after which the remaining assets pass to The Education Foundation.
Other Planned Giving Opportunities
Besides providing a bequest through your will or retirement plan, you may make planned gifts to The Education Foundation through certain charitable trust arrangements. These vehicles can provide important tax and legal advantages to you, and provide certainty regarding the distribution of your estate assets. Your personal financial advisor or estate lawyer can assist in exploring these alternatives. Please contact Samina Hussain at 847-626-3957.
Other Ways to Augment Your Annual Giving
During the school year, The Education Foundation runs a variety of fundraisers.
