Planned Giving
The League of Women Voters of Dane County deeply values the vigorous financial support members provide that permits us to be the active and effective organization in Dane County that we are. Especially important to the long-term financial stability of the unit are gifts from members who arrange for planned giving.
Planned giving is a diverse area of financial planning that offers members a range of options that provide a legacy of support for the League without necessarily impacting daily life, and with the possibility of reducing estate and income taxes for heirs. If you are uncertain about your assets providing for you through your lifetime, planned giving is an especially appealing option. It allows you to make a commitment to the future of League while not compromising your own financial security.
Probably the most basic way to do planned giving is to make the League the beneficiary of a bequest of either cash, securities/investments, real estate, other personal property, and/or life insurance. But there are additional options as well including gifts of retirement plan assets and charitable gift annuities.
Guidelines for retirement plan asset giving allow one at age 72 to transfer funds from a traditional or Roth IRA (Individual Retirement Account) directly to the League as a "qualified public charity” (non-profit organization). There may not be a tax deduction for giving from a traditional IRA but there may be from a Roth IRA and for designating the LWVDC at the end of life as a beneficiary from the estate. Qualified charitable distributions made directly from an IRA in lieu of receiving required minimum distributions reduce taxable income.
Guidelines for charitable gift annuities allow one to create a contract to benefit the LWVDC during one’s lifetime or after. The donor receives payments for a set period of time or throughout their lives, and then the remainder of the principal passes on to the charitable organization, i.e., the LWVDC. A second type of gift that provides income to the donor is a revocable living trust. A revocable trust allows the distribution of earned income to the donor during the life of the trust, managed by the individual, bank or family member. Only after death does property transfer to the charitable organization, i.e., the LWVDC. A living trust allows allocations to change depending on the will of the owner and the distribution provisions remain private.
Planned giving allows each of us to play a very significant role in ensuring the financial security of the League of Women Voters of Dane County. By making a planned gift, we become valued partners in building a sound foundation for the League’s important work. Please take time to review these giving opportunities to think about which would work best for you. We encourage you to act now to include the LWVDC in your future financial planning!