A Tax-Saving Way to Help Kids
If you are 72-years-old or older, you can give up to $100,000 from your IRA directly to The Children’s Place without having to pay income taxes on the money. Why is this method of giving so popular?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
Create a Legacy in Your Will or Trust
It only takes one sentence to make a difference in the lives of children when you name The Children’s Place in your will or trust. In just a few words, you can make an impact that will extend your support into the future. Use this preferred language when making plans with your estate planning attorney:
“I give to The Children’s Place, tax ID # 51-0195216, currently located at 6401 Rockhill Road, Kansas City, MO 64131, _____* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”
Or Make Your Gift in 3 Easy Steps
Not everyone can commit to making a gift in their wills. Some prefer the increased flexibility that a beneficiary designation provides by using IRAs, retirement plans and life insurance policies as ways to donate. It only takes three simple steps to name The Children’s Place as a beneficiary:
- Contact your retirement plan administrator, insurance company, or bank for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like The Children’s Place to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, or bank.
How can we help you? If you have any questions or would like more information on how you can further our mission in your gift planning, please fill out the form below and our team will be happy to answer your questions.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
The Children’s Place is a federally-recognized 501(c)(3) tax-exempt organization, ID number 51-0195216. All donations are tax-deductible to the extent allowed by law.