Ways To Give
There are many ways to support Discover Goodwill's employment and Life engagement programs.
A cash gift can come in the form of an outright gift, a pledge or a planned gift that generates income. All cash gifts are tax deductible as provided by law.
Donating long-term appreciated securities allows you to avoid capital gains taxes and receive a charitable income tax deduction. To transfer securities to Discover Goodwill Foundation, please provide your broker with our account information: Smith Barney DTC #0418 Discover Goodwill of Southern and Western Colorado Foundation Account # 634-07059-19-244.
Once you have provided your broker with your specific transfer instructions, please inform Jeanne Conder at Discover Goodwill Foundation (719/381-9489 or email@example.com). Once we have been notified by Smith Barney the transfer has been completed, Discover Goodwill Foundation will initiate your tax receipt.
More than 8,000 employers nationwide offer matching gift programs that provide an easy way to double or triple your contribution. Even past gifts, and gifts from retirees and spouses, are sometimes eligible for a match. To find out if your company will match your gift, contract your Human Resources office for a matching gift form to submit with your contribution.
Before you sell real estate, consider a new option. If you'd like to help fulfill our mission, your property opens the door to a unique giving opportunity: donate the property to us. You can give the property outright (and still live in it for the rest of your life), place it in trust or give it by will. All of these methods will enable you to enjoy personal financial benefits while supporting our work in a meaningful way.
Retirement Plan Assets
Tax-deferred retirement plans, such as IRAs, 401(k) and 403(b) accounts are a major factor in financial and estate planning as well as gift planning due to their tax-deferred nature. Since the tax is deferred on these assets, at death they are potentially subject to both estate taxes and income taxes. If the transfer of the retirement accounts to the surviving family members is not handled properly, the retirement assets could be subject to as much as a 65% combined tax.
As a result of this tax pitfall, many individuals are using retirement plan assets to make gifts to tax-exempt organizations, such as Discover Goodwill Foundation. Currently, the most efficient way to pass retirement plan assets is at death by naming Discover Goodwill Foundation as the designated beneficiary on the retirement account documents. The beneficiary designation can be for a fixed dollar amount or a percentage of the retirement account. Lastly, you can insert instructions into your Will or revocable trust stating that charitable contributions should be made first from the retirement plan assets before any other assets are used. Fulfilling charitable bequests with retirement plan accounts avoids the potential taxes on these accounts.