Gift Types

Giving During Your Lifetime

• Cash

  A cash gift is a simple way to support the work of 50 North. If you wish to make a gift of cash, you may do so online, through personal check, certified check, or wire transfer. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• IRA Charitable Rollover or Qualified Charitable Distribution (QCD)

   A gift from your IRA to 50 North is almost as simple as a gift of cash. Depending on your age, you may be eligible to make a lifetime gift from your IRA. This gift is referred to as an IRA Charitable Rollover or Qualified Charitable Distribution (QCD).

  To make a QCD: 

  1. You must be age 70-1/2 or older.
  2. The QCD only works from a traditional IRA. You may transfer money from a different kind of plan to a traditional IRA and then make the QCD.
  3. The QCD must be made directly to a public charity. You should instruct your IRA custodian to issue a check for your donation directly to 50 North.
  4. The QCD counts toward your required minimum distribution (RMD) for the year in which the QCD is made. While RMDs are waived for 2020, in future years and at the age of 72, a QCD may also fulfill all or part of the RMD you must take. 
  5. Although you may not claim a charitable deduction for a QCD, of greater importance is the fact that you do not have to report the QCD as income on your income tax return. 
  6. You may give a maximum of $100,000 per individual annually by QCD.

   

  To read more about IRA gifts, please view these FAQs from the IRS - Retirement Plan FAQs

  For more information, contact Carolyn Copus at ccopus50north.org or 419-423-8496

• Appreciated Stock

  A gift of appreciated stock that you have held for more than one year may be a  beneficial way for you to support 50 North. When you make a gift of appreciated stock,  you give the full value of the stock to support the mission of 50 North and avoid the capital gains tax on the sale of the stock. For this gift to work favorably, you must give the stock and not the proceeds from a sale of stock to 50 North. Your gift is immediately available for the benefit of our community’s older adults and you qualify for a tax deduction based on the full fair market value of the stock.  

  Make a Stock Transfer

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

Planned Giving

• Gift in Your Will

  Providing for a gift in your will is an easy way to transfer assets to 50 North after your lifetime. Through your will, you can give a certain dollar amount, a specific property, a  percentage of your estate, or what is left after other gifts have been made. By making a  gift in your will, you are assured that all of your assets are available to you during your lifetime. Sample Bequest language is available by clicking HERE that you can provide to your attorney in the drafting or amendment of your will.

  For more information, contact Carolyn Copus at ccopus.org or 419-423-8496.

• Charitable Gift Annuity

  A charitable gift annuity offers you a way to make a gift to 50 North that pays you a lifetime income. You create a charitable gift annuity for a minimum of $20,000, receive income from that annuity for life, and designate what is left to support 50 North’s services to the local senior population. You get to experience the joy of giving now,  receive an immediate income tax deduction while receiving lifetime income and a lasting legacy for 50 North. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• Beneficiary Designation on Retirement Plan Assets

  One of the most tax-efficient ways to support 50 North is by naming it in whole or in part  as a beneficiary of your 401(k), 403(b), IRA, or other qualified retirement programs.  When inherited by your heirs, these assets will be subject to taxation. For this reason,  retirement plan assets make a smart source of funds for charitable giving, as 50 North will pay no tax on a gift from these assets. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• Beneficiary Designation on Life Insurance Policies

  Another tax-efficient way to support 50 North is by naming it in whole or in part as a  beneficiary of your life insurance. You can also make a gift to 50 North of a fully paid life insurance policy you no longer need. This is one of the simplest ways to make a  significant contribution and leave a lasting legacy for 50 North.  

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• Charitable Remainder Trust

  With the assistance of your estate planning attorney, you can set up a charitable remainder trust that allows you and your loved ones to receive lifetime income from your assets or property, qualify you for an income or estate tax deduction for a charitable gift,  and leave an important legacy for 50 North. The amount of income received depends on the type of trust and payout rate selected by you. The amount of the tax deduction depends on whether the trust occurs during your lifetime or after your death, the age of the life income recipient, the payout rate, and the discount rate as determined by the  Internal Revenue Service. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• Charitable Lead Trust

  With the advice and management of your estate planning attorney or other professional,  you can set up a charitable lead trust that allows you to make a charitable gift to 50  North during the trust’s term. When the trust terminates, the remaining assets return to you or your heirs. This is a complex giving strategy that requires the expert advice of your professional advisor and is only appropriate for very large gifts. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.

• Real Estate

  A gift of valuable real estate is an excellent way to make a gift to 50 North. Gifts of real estate range from personal residences and vacation homes to rental properties,  farmland, and commercially developed land. You may choose to give real estate outright and receive an immediate tax deduction or retain the use of the property during your lifetime with the remainder interest going to 50 North. Gifts of real property to 50 North require the approval of the 50 North Board of Trustees. 

  For more information, contact Carolyn Copus at ccopus@50north.org or 419-423-8496.