Planned Giving at Prevent Child Abuse New York (PCANY)
Planned giving is a way to ensure that the things that were important to you during your life, remain a priority as a part of your legacy. The PCANY development team is happy to announce the following donation options to help, once you have made a decision about how you will use your funds to continue supporting New York families well into the future.
Publicly Traded Securities
Publicly traded securities are stocks or bonds traded on a public exchange that can be donated to an organization. The full fair market value of the asset is tax deductible.
Bequests can be a specific amount or asset, percentage of estate after bills are paid, remainder of estate, or contingent. Gifts identified are excluded from federal estate and state inheritance taxes. Sample language for donor use should include the following: “I give Prevent Child Abuse New York, a non-profit organization with a principal place of business in Albany, New York, and Federal Tax ID of 14-1730897, the amount of XX for its general purposes.”
Charitable IRA Rollover
Cash, up to $100,000, can be donated from retirement plans. This rollover is an attractive option for taxpayers who either don’t want or don’t need the extra taxable income from their IRA’s required minimum distribution. Donors can either contact their IRA custodian and request a direct transfer to PCANY or send a gift directly to PCANY through their IRA checkbook. PCANY must provide the donor with substantiation for the donor’s tax return. You can visit the IRS website for more information on the subject.
Donor Advised Funds
Donor Advised Funds allow donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. Donors can contribute to the fund as frequently as they like, and then recommend grants to their favorite charities whenever it makes sense for them. You can visit the IRS website for more information on the subject.
For more information on any of these long-term or future giving options, please contact Lisa Morgan Klepeis, Director of Finance and Human Resources.