CONSIDER YOUR GIVING STRATEGY
Charitable giving can happen through many different avenues and be tailored to bless YAA as well as you or your loved ones if needs are present. Giving strategies to Yellowstone Alliance Adventures now include the following options.
These are simple and straight-forward. If you itemize your tax-returns, you receive a dollar for dollar charitable deduction. Most people accomplish their giving in this manner.
If other financial considerations are present, you might want to consider a Planned Giving option.
If you own a traditional Individual Retirement Account, are 70 ½ years of age or older and want to maximize your gift, consider this model. You can have any amount sent from your account by your plan manager up to $100,000 to Yellowstone Alliance Adventures. Whatever you have sent will not count toward taxable income to you. In other words-no income, no taxes—a complete wash. Furthermore, the cost to you to make the gift is exactly the amount you wish to give. Consider: Mr. and Mrs. Jones want to give $10,000. If they receive the funds from their IRA, it will all be taxable—15% for federal, 3% for state, and 2.5% for Medicare. In other words about 20 % or $2,000. The upshot is that to make the $10,000 gift they would need to give $12,000. Not so with the IRA Rollover provision. Let us send you a brochure detailing this model of giving. Thousands of seniors utilize it each year.
Mrs. Smith is a widow. When her husband passed, she began receiving only his Social Security each month since it was more than hers. At 76 years of age, she could fund a $10,000 gift annuity with cash or appreciated stock, which they had accumulated over the years and receive 6% for the rest of her life, a good portion of which would be tax free over a period of years. She would also receive a large up-front tax deduction if she itemizes. There are a number of options for gift annuities, including double-life where both husband and wife receive benefits for life. If you want to turn those bank funds that are drawing next to nothing into a stream of income, this could be a good way to begin.
These come in all shapes and forms. They are generally for larger amounts and for people who need tax shields and/or want to include family members in the trust. They often come into play when people sell a business, rental property, second homes, etc. Call Jim at Yellowstone Alliance Adventures to discuss your needs. He works closely with Yellowstone Trust Administration and can get you a detailed proposal that will reflect your situation.
Montanans can double down when they do a gift annuity or a charitable trust. They can purchase one and receive a 40% Montana tax credit on amounts of up to $10,000. The law states that any charitable planned gift to a Montana charity’s endowment qualifies. Remember, the benefit from this would be in addition to tax and income benefits you receive from your planned gift.
Going forward, Yellowstone Alliance Adventures will offer other planned giving options that provide benefits to the ministry and to you. Please call us at 406-763-4727 to discuss any of these options. And thank you so much for your current support.
In the next several years as we roll out a broad capital campaign, YAA will need the support of everyone that has experienced first hand or knows of the value of this important ministry. Rest assured that every penny of every dollar you give to YAA will end up being used directly within this ministry.