OUTRIGHT GIFT OF APPRECIATED SECURITIES
When you donate appreciated securities or mutual funds you have held for more than one year to 2nd & 7, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
QUALIFIED CHARITABLE DISTRIBUTIONS
If you are age 70 ½ or older, you can donate up to $100,000 in IRA assets directly to 2nd and 7 without taking the distribution into taxable income. If you are taking required minimum distributions, (RMDs) the amount of charitable distribution counts toward the required amount. Contact your financial advisor, bank or financial institution to make this type of direct gift.
GIFT IN YOUR WILL OR LIVING TRUST
You can leave money to 2nd & 7 in your will. This is a flexible designation that can be changed at any time throughout the course of your life as circumstances change. This contribution can be a percentage or a straight dollar amount.
BENEFICIARY DESIGNATIONS
You can support 2nd & 7 by designating us a beneficiary using:
- IRAs and retirement plan
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here’s how to name The 2nd & 7 Foundation as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you choose, on the beneficiary form.
- Return the completed form to plan administrator, insurance company, bank or financial institution.
