Leaving a Legacy
Make Your Compassion a Legacy
When J. Empson named Florence Crittenton in his will in 1926, he probably had difficulty imagining that over 90 years later, families would still benefit from his generosity. By setting up a trust, Mr. Empson has ensured that we receive a check every month for the past 92 years representing our share of his estate. What could have been a single gift of only a few thousand dollars became a gift of over $300,000 over time! He has provided care to literally thousands of young families over the years. Mr. Empson’s gift is the perfect example of what a little planning can do. He wanted to find a way to help that would go beyond his lifetime, a legacy. His legacy lives on in generations of families all over Montana.
Taking advantage of the Montana Tax Credit
The Montana Tax Credit is a unique tax credit incentive where a Montana taxpayer receives a reduction on the taxes s/he owes – up to $10,000 per year – by making a qualified charitable contribution to a qualified endowment.
Call or email Heather Greene at 406-442-6950 x 255 of [email protected] to learn more about the advantages of giving through this tax credit.
Sample language would be:
I, [Full Name], give, devise and bequeath to the Florence Crittenton Home and Services located in Helena, Montana, the sum of ________ dollars (or ______percent of the residue of my estate or other personal property appropriately described) to be used as its Board of Trustees shall deem advisable to best promote the Florence Crittenton’s objectives.
Deferred Gift Annuities
Life Insurance Beneficiaries
A gift of real property can significantly reduce your taxes, while at the same time meeting your charitable goals. Gifts of property can be used directly by FCH, used as collateral for expansion projects, or sold for cash value for the organization.
The IRA Charitable Rollover law allows individuals 70½ and older to transfer up to $100,000 from their individual retirement accounts directly to a qualified charitable organization without being subject to income taxes on the distribution.
Here are some helpful details:
- You must be age 70½ or older at the time of the gift. This opportunity applies only to IRAs and not other types of retirement plans.
- You can transfer up to $100,000 directly from your IRA. The gift can satisfy your annual minimum distribution.
- You do not have to donate your entire annual distribution to the non-profit, making this a great option if you would like to keep some of the funds each year.
- You transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, or charitable gift annuities.
For more information on planned giving opportunities please contact the Development office @ 406.442.6950 x 204 or [email protected]
Planned Giving Brochure
Visit the Montana Community Foundation website for great articles and resources for making Planned Gifts.
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3404 Cooney Drive
Helena, MT 59602
Compassion in Action