Using a Beneficiary Designation to Make a Gift to Charity

Mary and her late husband had been supporters of our organization for a long time. Mary has been giving each year directly out of her IRA to our mission as a way to satisfy her required minimum distribution without incurring income tax liability.

Mary: I really like being able to give directly out of my IRA, my investment advisor takes my instructions and handles issuing the check to One Mission Society for me, it is very convenient. Each year when it is time to make the gift, I tell One Mission Society to use it where it will do the most good!

Mary also wanted to be sure One Mission Society received a significant portion of her IRA at her passing. When she discussed this issue with her attorney, she discovered how easy it was to simply name One Mission Society as a beneficiary of her IRA. All she had to do was fill out a simple form indicating how much of her IRA she wanted to go to One Mission Society at her passing.

Is a beneficiary designation gift right for you?

If you own a qualified retirement plan such as an IRA, 401(k), or 403(b) and would like to make sure One Mission Society receives a gift, your estate might benefit from an update to the beneficiary designations of your qualified retirement plans. Giving to One Mission Society through a beneficiary designation may help your heirs avoid paying income tax on certain inherited assets as well as potentially helping your estate avoid estate taxes. If you have questions or would like to discuss further making a beneficiary designation gift, please contact us. We stand ready to work with you and answer any questions you have!