A gift from your retirement assets, (IRA, 401k, 403b, pension or other tax deferred plan), is a simple and tax-effective way to make a significant gift to Board of Child Care.
Designate Board of Child Care as a beneficiary of your retirement assets
Did you know that 60%-65% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis (such as real estate and stock) and give your retirement assets to Board of Child Care. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets so the full value of your gift can be used to further our mission.
- Eliminate all income tax and estate tax liability on retirement assets given to BCC.
- Retain ownership and continue to take withdrawals during life as needed or required.
- Have the flexibility to modify your bequest if your circumstances change.
- Make a significant gift to BCC and designate how it should be used.
- Experience the satisfaction of knowing you can continue to help children even after your lifetime.
How to transfer your retirement assets
Your retirement assets may be transferred to BCC by completing and filing a beneficiary designation form provided by your plan custodian. If you designate BCC as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit by receiving a charitiable gift deduction, which will lower your estate taxes.
Contact Us for More Information
If you have any questions please click here to send us an email or call 410-922-2100 x5284 to speak to a member of our Development team.