PLANNED GIVING
Donor Advised Fund Donations
What is a donor-advised fund (DAF)?
A donor-advised fund (DAF) is a philanthropic giving vehicle that acts
as a charitable savings account. It provides tax benefits to you, and
allows you to easily support charities of your choice over time.
How do donor-advised funds work?
DAFs can be easily set up through your financial institution or a
community foundation to serve as a flexible charitable giving vehicle.
For more information on how to establish a DAF, contact your
community foundation or financial advisor.
If you already have an account at Fidelity, Schwab or Vanguard you can use Fighting Chance’s Federal EIN 02-0536388.
Qualified Charitable Donations
If you’re 70-1/2 or older, you can donate up to $100,000 per tax year directly from an Individual Retirement Account (IRA) to charities like Fighting Chance.
Qualified Charitable Distributions (QCD), otherwise known as IRA charitable rollovers or IRA gifts, are a great way to support our work by allowing your dollars to go further.
Benefits of making an IRA gift
QCDs count toward your required minimum distribution for the year. If you
must take your required minimum distribution but you don't want or need
the funds, QCDs are a great way to distribute from the IRA. As an added
benefit, you'll avoid paying income tax on gross income up to $100,000.
If you'd like to make a QCD gift, your financial institution should make the check out to “Fighting Chance" and identify you as the donor by name and address.
Your IRA administrator must make the distribution directly to the charity, or you may write a check to the charity from your IRA checkbook. Funds that are withdrawn by you and then contributed do not qualify.
Remember Us in Your Will
Gifts by will are one of Fighting Chance’s most important sources of support. Unrestricted gifts give us great flexibility to use funds where they are most needed.
You may leave Fighting Chance:
- A stated dollar amount
- A percentage of your residual estate (what remains after gifts to loved ones and expenses have been paid), or
- A specific asset, such as securities or other marketable property
Name Fighting Chance as a Beneficiary
By naming Fighting Chance as a beneficiary on your retirement account (IRA, 401(k), 403(b), or other retirement plan) or life insurance policy you chose a powerful way to support the important work of our organization without changing your will or living trust. Beneficiary designation gifts pass directly to our charity without going through the probate process and can help us immediately provide comfort and support to community cancer patients.
Often these are among the best assets to leave to charity, as retirement plan assets when inherited by an individual are usually taxable.
To learn more about any of the options mentioned, we suggest you speak with your financial planner. To contact Fighting Chance with questions, please call or email:
