10 Ways to Make a Gift to the Kansas Masonic Foundation
There are a number of ways that you can make a gift, which may also have favorable income tax savings to you, while furthering the mission and charitable programs of the Kansas Masonic Foundation. All gifts qualify for the Foundation’s C-Club, which provides annual recognition at all Masonic Lodges for cumulative gifts.
1. GIFTS OF CASH: If you itemize on your tax return, cash gifts can be deducted, up to 50% of your adjusted gross income. On a $100,000 cash gift in a 35% bracket, you may save $35,000 in taxes. Kansas Masonic Foundation invites cash pledges payable over a period of years.
For the convenience of our donors we also accept Electronic Funds Transfer (EFT) directly from your bank account. If you would like more information on how to set up automatic withdrawals from your bank account please contact us.
2. MATCHING GIFTS: Your gift to the Kansas Masonic Foundation can be doubled, even tripled, through employer matching gift programs that may be available to both current employees and retirees. You may be eligible if either you or your spouse are employed by, serve on a board for, or are retired from one of these companies. Contact your personnel office today to find out if your employer will match your gift to the Kansas Masonic Foundation. Gifts may also qualify for C-Club credit that are made directly to the Kansas Masonic Cancer Research Institute, if the matching gift program guidelines limit gifts to educational programs. Please contact the KMF office for more information.
3. APPRECIATED STOCK: Appreciated stock (held more than one year) makes an excellent gift. You avoid all capital gain taxes (generally 15% of the appreciation) and will receive a charitable tax deduction for the stock’s market value at the time of transfer.
4. BEQUEST THROUGH WILL OR TRUST: One of the most simple and popular ways to make a gift that will live on after you is to give through your will or trust. You can make a bequest to sustain the Kansas Masonic Foundation by providing a dollar amount, specific property, a percentage of your estate, or what is left (remainder) to Kansas Masonic Foundation. Such a designation can reduce your estate taxes (for estates over $2 million). In many cases a simple codicil to the will can add a gift to the Kansas Masonic Foundation and does not require rewriting your most recent will.Sample Legal Language you can include in your Will or Trust“I/We give, devise and bequeath to the Kansas Masonic Foundation, Inc., of Topeka, Kansas (state “_______ % of my estate”, “the sum of ________” or “the residue of my estate”) with the instruction that these funds be used for the Kansas Masonic Cancer Research Institute, at the University of Kansas, provided however, that should changing circumstances render this use of funds no longer practical, the funds shall be used for medical research at the University of Kansas Medical Center.”5. RETIREMENT ACCOUNTS AND PENSION PLANS: Retirement account funds (IRA’s or company plans) beyond the comfortable support of yourself or loved ones may be given to Kansas Masonic Foundation by proper beneficiary designation. Large pension plan assets can be subject to double or triple taxation (federal income tax, state income tax, and federal estate taxes, if applicable). These taxes can substantially eliminate the benefit to heirs if tax-wise alternative planning is not arranged.6. CD’s, SAVINGS ACCOUNTS, BROKERAGE ACCOUNTS, CHECKING ACCOUNTS WITH P.O.D. PROVISIONS: P.O.D. stands for “Payable on Death”. You retain full ownership and full control during your life. At your death, the account balance is paid to your named beneficiary, Kansas Masonic Foundation, immediately and without probate.
7. CHARITABLE REMAINDER TRUSTS (ANNUITY AND UNITRUSTS): Donors and spouses can benefit from life-long payments from such a trust. The donor selects the rate of return from these income arrangements and also chooses a fixed or fluctuating annual payment to be made to the designated parties as long as they live. Estate and capital gain taxes may be completely bypassed and you will receive a current income tax deduction based on the age of the income recipient and the rate of return chosen.
8. GIFT ANNUITY: Kansas Masonic Foundation partners with the KU Endowment Association in offering a gift annuity program. In exchange for a gift of cash, stock or securities, you and your survivor, or another person you name, receive a guaranteed income for life. In addition, you receive a substantial income tax deduction in the year of the gift and part of the annual payment is non-taxable. Upon your death, or the second to die if so selected, the gift remainder supports cancer programs at the Kansas Masonic Cancer Research Institute or KU Cancer Center. Call us for information on the payout rate for your age.
Compare the following rates for a single and double life gift annuities with rates you currently receive from your money market funds or CDs:
| One Life |
Two Lives |
| Your Age |
Rate of Return |
Ages |
Rate of Return |
| 65 |
6.0% |
65/65 |
5.6% |
| 70 |
6.5% |
65/70 |
5.7% |
75
|
7.1% |
70/70 |
5.9% |
| 80 |
8.0% |
70/75 |
6.1% |
| 85 |
9.5% |
75/75 |
6.3% |
| 90 |
11.3% |
75/80 |
6.6%
|
| |
|
80/80 |
6.9% |
| |
|
85/85
|
7.9% |
| |
|
90/90 |
9.3%
|
| *Please be advised that not all organizations offer CGAs at the above ages and rates and that CGAs are not available in all states. Rates are subject to change. Please contact The Kansas Masonic Foundation for specific information. |
9. GIFT OF LIFE INSURANCE: Insurance is another simple way to make a substantial future gift at a level that might not be possible with a cash gift. Name Kansas Masonic Foundation as the owner and beneficiary to receive the proceeds of an existing life insurance policy. You will receive a tax deduction for approximately the cash surrender value, thereby reducing your tax liability in the year of the gift.
An alternative is to simply add Kansas Masonic Foundation as a revocable beneficiary. You retain the right to change this designation, but in this instance, you receive no income tax deduction.
10. GIFT OF REAL ESTATE: For some individuals a gift of land, a house, or vacation home is a preferred way to make a gift. You will receive a tax deduction for the full market value, avoid all capital gain taxes and remove this asset from future estate taxes. One option is to give real estate retaining a life tenancy. This provides a substantial income tax deduction by giving (deeding) your property to Kansas Masonic Foundation now. You continue to live there, maintain the property as usual, and even receive any income it generates. At your death, the property will be sold and the proceeds used to support Kansas Masonic Foundation.
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