The Benefits of Making Bequests
A bequest is one of the most popular and flexible gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends and COD as part of your estate plan.
- You leave a lasting legacy to be remembered.
- You lessen the burden of taxes on your family.
- You may receive estate tax savings.
A bequest can be made in several ways:
- You can gift a specific dollar amount or asset.
- You can gift a percentage of your estate.
- You can make a gift from the balance or residue of your estate.
- You can make a beneficiary designation of certain assets.
Charitable Gift Annuity
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to the COD Foundation that can provide you with a secure source of fixed payments for life.
- Receive fixed payments to you or another annuitant you designate for life.
- Receive a charitable income tax deduction for the charitable gift portion of the annuity.
- Benefit from payments that may be partially tax-free.
- Further our mission to enhance the quality of education by advancing COD.
How a Charitable Gift Annuity Works:
- You transfer cash or property to College of the Desert Foundation.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping to further our mission.
If you decide to fund your Gift Annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
IRA Charitable Rollover
If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and also receive a tax benefit this year.
- Avoid taxes on transfers of up to $100,000 from your IRA to the COD Foundation.
- Satisfy your required minimum distribution (RMD) for the year.
- Reduce your taxable income, even if you do not itemize deductions.
- Make a gift that is not subject to the deduction limits on charitable gifts.
- Help further the work and mission of the COD Foundation.
How an IRA Charitable Rollover gift works:
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to the COD Foundation to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify as a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.