Planned Giving

An overview of planned giving options

Why Make a Planned Gift?
How Will My Gift Be Used?
Unless specified by the donor, planned gifts will be invested in MOFGA’s endowment. The proceeds will be used to support MOFGA’s ongoing operations.

Immediate Gifts

Cash and Credit Cards
Giving cash is the simplest method of donating to MOFGA. You can either make an annual gift and/or leave cash through your will as part of your estate.
Stocks and Securities
Giving a gift of stock is also a simple way to support MOFGA. If you contribute long-term appreciated securities (those held for at least one year), you have an added benefit of owing no tax on their appreciation, thus avoiding long-term capital gains taxes.
Tangible Goods
You can donate tangible personal property (such as land, tractors, art, automobiles, boats or antiques). A tax deduction is available for the fair market value of the item.

Planned Gifts

A bequest is an asset given through your will. Eighty percent of planned gifts are made this way. The gift can designate a specific dollar amount, a particular asset or a percentage of your estate.
Suggested wording to make a bequest in your will is simple:
Charitable Remainder Trust
A Charitable Remainder Trust is an arrangement in which you or a loved one can receive a fixed annual income or an income that varies with the value of the trust. At the death of the last beneficiary, the assets in the trust are distributed to MOFGA to be used for the purposes you designate.
Life Insurance
You can give your life insurance policy (or its death benefits) in several ways to MOFGA.
Retirement Plan Assets
You can donate your retirement plan assets by listing MOFGA as the beneficiary.
Gifts of Real Estate
Donating real estate to MOFGA – whether your farm, personal residence, vacation home, commercial real estate or vacant land – can give you numerous tax advantages.
Retained Life Estate
You can give MOFGA your house and continue living there through a “retained life estate.” A gift of your home, farm, vacation home or condominium, even with stipulations about occupancy, often results in a charitable deduction for income tax purposes.
Charitable Gift Annuity
With a simple contractual agreement, you can establish an endowment fund benefiting a specific organization(s) or area of interest and receive a guaranteed lifetime income. With a minimum gift of $25,000, you can receive guaranteed quarterly income payments for the rest of your life. Annuity rates can be offered for one or two people. The rates vary depending on the age and number of income recipients. See the article below for further details.
A Gift to Honor a Loved One
A gift given in honor or memory of a loved one is a powerful way to establish a link with the past and a promise for future generations.
For more information about planned giving, please contact MOFGA.
We would appreciate knowing if you have included MOFGA in your estate plans.

IRA Charitable Rollover – Your Retirement Distribution

Avoiding Tax Penalties While Helping MOFGA
Many of us have spent years setting aside funds in retirement accounts. We can use these funds to support our retirement AND to support worthy causes such as MOFGA.
One simple way is to list MOFGA as a beneficiary of retirement funds. Upon your death, MOFGA will receive the percentage of the funds you have specified.
In the meantime, upon turning age 70-1/2, we must begin to withdraw funds from certain retirement accounts according to IRS rules. Funds withdrawn from some types of retirement accounts are subject to state and federal income tax. Failure to withdraw the required amount can result in a 50 percent penalty on the funds not withdrawn.
Some people would rather support a nonprofit organization they believe in than pay a 50 percent penalty. This is possible by taking advantage of the “IRA Charitable Rollover” (aka Qualified Charitable Distribution), which allows a person age 70-1/2 or older to withdraw up to $100,000 from his or her retirement accounts and donate it to charity without incurring any income tax on the funds withdrawn.
Another option is to withdraw funds from the retirement account, pay the tax, and contribute the remaining funds to charity. This arrangement may result in a smaller gift to charity but may allow the donor to take a charitable income tax deduction.
And every gift to MOFGA will be matched by the Partridge Foundation.
While making gifts to MOFGA through your retirement account can be rewarding and simple, it is always prudent to consult with your professional advisors beforehand.
If you would like more information, please contact Torie DeLisle, MOFGA’s director of development and memberships, at 207-568-6013 or [email protected].

Charitable Gift Annuity – Provides Lifetime Income While Supporting MOFGA

A Charitable Gift Annuity (CGA) is when a donor provides a gift (cash, securities or property) to a nonprofit. In exchange the nonprofit agrees to make an annual payment to the donor and/or his or her beneficiary for the rest of his or her life.
Donor benefits
MOFGA benefits
Donor's Age Interest Rate
70 5.1
75 5.8
80 6.8
85 7.8
Interest rate set by the American Council on Gift Annuities (ACGA).
For more information, please contact Torie DeLisle at 207-568-6013 or [email protected].
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