The impact you have on this world can be amplified by considering a planned gift to Remote Area Medical® in your will or living trust. A sample charitable bequest language for Remote Area Medical® is:
“I give ___________ (residue, percentage, or specific amount) to Remote Area Medical®., having its principal offices at 2200 Stock Creek Blvd., Rockford, Tennessee, 37853, for its general purposes to prevent pain and alleviate suffering by providing free, quality health care to people in need.”
For your information, our tax ID number is 58-1647546.
How It Works
To make a charitable bequest, you need a current will or revocable living trust.
Your gift can be made as a percentage of your estate, or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Remote Area Medical receives your gift.
Because you are not making a gift until after your lifetime, you can change your mind at any time. You can structure your bequest to a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to Remote Area Medical.
If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
Age 70½ or older?
If so, you are eligible to donate IRA distributions to RAM!
This means that you can:
- Receive tax benefits
- Make a charitable contribution you wouldn’t otherwise be able to make
- Help provide high-quality dental, vision and medical care to those in need
Edward Jones® explains:
Individuals can donate up to $100,000 per year directly from a traditional or Roth IRA… This is attractive to some investors because qualified charitable distributions (QCDs) can be used to satisfy required minimum distributions (RMDs) from an IRA without having the distribution included in their income.
Restrictions set on QCDs include the following:
- $100,000 maximum per person per year
- Distributions transferred to the charity no later than Dec. 31 of the current tax year
- Must be a direct IRA distribution from the IRA custodian or trustee
- Applicable only for traditional and ROTH IRA distributions (excludes SEP and SIMPLE IRAs).
Key benefits of donating your IRA distribution to a charity, as described by Edward Jones®:
- For those who give larger gifts, deductibility limits do not apply to QCDs, which means the QCD can be made in addition to other charitable contributions that may be limited by the annual maximum deductible percentage of income or phase-outs of itemized deductions.
- For those who don’t itemize deductions, if QCDs are used as the funding source for charitable donations, the donor will receive tax benefits when there otherwise would have been none due to the use of the standard deduction.
- For those who pay taxes on a portion of their Social Security benefits, income for determining the taxation of Social Security benefits is lower than if the IRA holder had taken the RMD, potentially reducing this taxation.
- For those whose income level subjects them to tax on Net Investment Income, or phase-out of personal exemptions or itemized deductions, a QCD made in lieu of an RMD will result in lower Adjusted Gross Income for the IRA holder, which may lessen the effect of this tax or applicable phase-outs.
Consult your tax advisor and estate-planning attorney about your situation. Donating your IRA distributions to RAM helps Remote Area Medical respond to the medical needs of hundreds of thousands of people who are in dire need of care. Join us today and be a part of this remarkable journey to help alleviate pain and stop suffering to those who need it most! For more information, including restrictions and benefits, contact Don Mackay at email@example.com or at 865-579-1530.