Other ways to give
MATCHING GIFTS
Many local companies offer employees ways to increase the value of their charitable giving by offering matching gift programs. This is an extremely beneficial program. The Peterson-Dumesnil House Foundation (PDHF) is a recognized 501(C)3 charitable organization, and can provide your company with the required documentation to participate in their gifting program.
The following is a list of local companies that possibly have a matching gift program. This list is not all inclusive, and the policy of the company is subject to change, so please check with your Human Resources Department to find out if they participate in matching gift programs.
Aegon Mineral Technologies, Anthem, AT&T, Bell South, Brown Forman, Ernst & Young LLP, Gannett Foundation, General Electric, Humana, Merrill Lynch, Nation Wide, Pfizer, RJ Reynolds
To find out your company’s policy on corporate matching gifts, simply check with your Human Resources Department.
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PLANNED GIVING/Bequests
One of the easiest ways to support the Peterson-Dumesnil House is with a gift to the organization in your will. A bequest may be made in your will or trust directing a gift to the PDHF. If you have a will, or plan to create one, please consider including PDHF. A gift given through your will (a bequest) can be made for a specific dollar amount, or for a percentage, or the balance or residual of your estate. You can give cash, personal property, real estate, securities, insurance policies, or retirement plan assets.
Benefits of a Bequest:
· Receive estate tax charitable deduction
· Lessen the burden of taxes on your family
· Leave a lasting legacy
If you already have an existing will or want to work with an attorney to create yours, we have included sample bequest language below.
Sample bequest language: I give and bequeath to the Peterson-Dumesnil House Foundation, a not-for-profit corporation, with office presently located at 301 S. Peterson Ave., Louisville, Ky 40206 the sum of $_________, to be used for the accomplishment of its general purposes. The Peterson-Dumesnil House Foundations’ Tax ID Number: 31- 1036389.
A retirement asset, such as an IRA account, makes an excellent bequest. If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating a charity as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.
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IRA – Required Minimum Distribution
Supporters 73 or older with a traditional IRA are eligible to make a tax-free donation to the PDHF. If you are over age 73, and are subject to Required Minimum Distribution (RMD), you are eligible to gift all or a portion of your RMD directly to a charity. You will pay no income tax on the amount gifted, and it will go toward satisfying your RMD dollar amount you are required to withdrawal from your IRA. These gifts are tax-free, regardless of whether or not you itemize deductions on your tax return. ________________________________________________________________________________
LIFE INSURANCE
A Life Insurance policy is also an excellent way to leave a planned gift to the PDHF. If you have an existing policy, you may simply add the PDHF as an additional beneficiary of the policy, for a percentage or a specific dollar amount. Upon your death, the specified amount will go directly to the PDHF.
If you are in reasonable health, you may consider the use of a life insurance policy as a way to leverage the ultimate amount of gift you choose to give to the PDHF. Many policies can be designed to have payments for five to seven years, and then require no more additional funding to have a guaranteed amount to go to the PDHF.
For more information on funding and leveraging your gift through the use of life insurance, please contact PDHF Treasurer Mike DaRif at Miked.pdhf@gmail.com ________________________________________________________________________________
STOCK TRANSFERS
Many donors prefer to make gifts of appreciated stocks, bonds, mutual funds, or exchange-traded funds because it can have a large impact on our mission, while maximizing potential tax benefits by avoiding paying tax on capital gains.
Gifting stock of highly appreciated securities to the PDHF is a very effective way to make a charitable gift. By contributing appreciated stock, you can make a meaningful contribution while also gaining valuable tax advantages. If you owned appreciated securities for at least a year and a day, your contribution can offer the following benefits:
· Eliminate Capital Gains Tax – By donating your appreciated securities, you avoid the capital gains tax you would owe if you sold the securities yourself.
· Claim the Market Value – By claiming the market value (versus the cost basis0 of the securities, you can enjoy a charitable tax deduction equal to the average price of the highest and lowest quoted sales price on the day you make your gift.
· Enjoy Last Minute Tax Breaks – At the end of the calendar year, when tax breaks and timing are critical, securities can be deducted on the date you transfer them.
STOCK ADVANTAGES OVER CASH
Your securities donation can deliver significant tax advantages over a cash donation, allowing you to make a gift at a lower after-tax cost to you. The chart below depicts the difference between the after-tax cost of a stock gift and a gift of cash. Assume that the stock was originally purchased at $250 (basis), the income tax rate is 27%, and the capital gains tax rate is 20%
NOTE: THIS TABLE IS FOR ILLUSTRATIVE PURPOSES ONLY. PLEASE CONSULT YOUR PERSONAL FINANCIAL OR TAX ADVISOR FOR YOUR PERSONAL TAX SAVINGS AND BENEFITS.
If you are interested in transferring stock, please contact PDHF Treasurer Mike DaRif at Miked.pdhf@gmail.com
KROGER SHOPPING
Support the Peterson-Dumesnil House by Shopping at Kroger. It is so easy. You just shop at Kroger and scan your Kroger Shopper’s Card and it automatically supports the Peterson-Dumesnil House.
Here’s how to enroll:
Visit www.kroger.com/account/enrollcommunityrewardsnow
Sign into your digital account or create a new account
Find and select Peterson Dumesnil House Foundation (BR445), and click “Save”
You’ll start earning rewards for the Peterson-Dumesnil House right away on qualifying food, gas and pharmacy purchases made using your Kroger Shopper’s Card.