THANK YOU! For considering NumbersUSA in your charitable giving plans!
SPECIAL 2020 CARES ACT ANNOUNCEMENT. Please consult your financial and tax advisors to see how you may qualify to make a planned gift donation to NumbersUSA and potentially eliminate up to 100% of federal income tax liability with no itemizing required! The following allowances under the 2020 Cares Act have been extended for donations made in 2021.
Special opportunities under the 2020 Cares Act:
- $300 Charitable Deduction for All: No itemizing required to donate up to $300 to a qualifying public charity (501c3) or organization and claim an "above-the-line" deduction from their taxable income. NumbersUSA Education and Research Foundation is a qualified public charity (501c3).
- 100% Deduction Allowance for Cash Gifts: For tax year 2020 only, individuals may deduct cash gifts to qualifying public charities and organizations up to 100% of AGI (Adjusted Gross Income), compared to the usual 60% deduction allowed. NOTE: please consult with your financial advisor to take into consideration any additional deductions you will claim to determine the amount equal to 100%. There is a good example of this here.
- IRA Deductions for Donors Age 70 ½: RMD (Required Minimum Distribution) is temporarily suspended for 2020. However, gifts made to qualifying charities and organizations from an IRA rollover or a qualified charitable distribution (QCD) will continue to reduce your taxable income for the 2020 tax year (up to $100,000), especially if you do not itemize your deductions. ALSO, for those 59 ½ + years of age, one can take a withdrawal from their IRA, make a charitable contribution and deduct up to the total amount of Adjusted Gross Income. For this one time, those 59 ½ years and older can benefit from a situation similar to the QCD (qualified charitable distribution)
IMPORTANT: Donations made via Donor-Advised funds do not qualify for these special allowances.
NumbersUSA thanks you for the honor of being included in your long-term financial plans. Please note that some life income gift types can be given only to NERF, a 501c 3 tax-deductible fund. However, bequests and insurance plans are examples of common gift types that can be made to the ACTION fund, a 501c4 non-tax-deductible fund, and we prefer they be given there.
Planned giving is exactly that, a plan for how to manage financial assets to care for yourself, your loved ones and perhaps also your preferred charities.
Charting a course for planned giving should first and foremost involve a trusted financial advisor and tax attorney. Below we have provided some guide brochures to assist you in your conversations with your financial consultants.
Feel free to contact Christy Shaw of our office at any time about any questions you may have (see contact info at the bottom).
To help you get started, it is important to remember that having a plan for your financial circumstances can potentially provide you with the following overall benefits when you include NumbersUSA in your estate or life-income arrangements:
- Increased income
- Reducing tax liability from:
- Estate
- Capital gains
- Income
Planned gifts are donations of cash, stock and tangible real estate and other assets given as gifts to designated beneficiaries or recipients, either during a donor's lifetime, at death, or both.
Common planned gift types include:
- Life Income
- Charitable Gift Annuities
- Remainder & Lead Trusts
- Personal/Unitrusts
- Legacy Gifts
- Bequests-Gifts by Will
- Life Insurance
- Retirement plans & plan remainders
- Additional Giving Vehicles
- Donor-Advised funds
- Private foundations
These tools are also available upon request to assist you in conversations with your financial advisors:
Charted Giving Plans brochure
Personal Planning Guide
Christy Shaw is the Development & Planned Giving Officer for NumbersUSA.
Office: 703.816.8820 ext. 12
Please send requests for additional materials to Christy's attention at:
1400 Crystal Drive, Suite 240
Arlington, VA 22202
