We all want to leave this world a better place than how we found it. A great way to cement your legacy is with a planned gift to Remote Area Medical ® (RAM). At RAM, our mission is to prevent pain and alleviate suffering by providing quality healthcare to those in need.
Since our founding in 1985, RAM has treated more than 785,000 individuals and 68,000 animals, delivering $135 million worth of free care.
Your planned gift will allow us to continue meeting the dental, vision, and medical needs of patients via our mobile clinics and disaster relief efforts. RAM clinics are free and open to the public. We provide services to thousands of people in both large and small communities in the United States and abroad. We need your support to continue to serve as a healthcare safety net for people who would otherwise have no place to go.
What Is Planned Giving?
A planned gift is any donation made as part of a donor’s financial and/or estate planning. It can be in the form of:
- Life Insurance
- Retirement Plan Assets
- Real Estate
- Tangible Personal Property
Why Should I Consider A Planned Gift?
Planned giving can secure your future and solidify your legacy. By designating RAM as your planned gift recipient, you can:
- Lower your adjusted gross income
- Reduce your capital gains tax
- Satisfy requirements for required minimum distributions from an IRA
- Deduct the charitable gift’s full value from your estate tax
- Live at ease knowing your passion for RAM’s mission will endure
How It Works
You can purchase a new life insurance policy and name RAM as owner and beneficiary. This makes the annual premiums associated with that policy tax deductible. The same tax benefits are achieved by transferring ownership of your existing life insurance policy to Remote Area Medical.
To make a charitable bequest, you need a current will or revocable living trust. Your gift can simply be 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 RAM is a tax exempt organization, 100% of your donation goes towards fulfilling the mission.
A sample charitable bequest language for RAM ® 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 healthcare to people in need.”
If you are 70 and ½ years or older, the IRS requires you to start making minimum distributions (RMD) from your IRA. You can donate up to $100,000 annually, from funds drawn on your IRA to a qualified 501(c)(3) charity (QCD) without that money being added to your adjusted gross income at tax time. However, the IRS requires that the funds be drawn from your IRA custodian and paid directly to the charity you select, in our case RAM. You cannot receive your RMD and then write a check to RAM for it to be considered as a Qualified Charitable Distribution.
Remote Area Medical’s tax ID number is 58-1647546. Be sure to consult your plan administrator, financial planner, tax advisor and/or estate-planning attorney about your situation for specific instructions. They are your best source of information and can help explain the tax consequences of your decisions.
For more information, including restrictions and benefits, fill out the form below or contact Don Mackay via email at email@example.com or by calling 865-579-1530.