Gifts That Reduce Your Taxes

When you give securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) you receive an income tax deduction for the full, present, fair market value of the assets, and 2) you may altogether avoid capital gains tax on the appreciation, or increase in value, of the assets. This is one of the easiest gifts to give and one of the most effective in helping you achieve your philanthropic goals. 

Make a Gift of Stock

A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a gift. A gift of these assets can shield you or your heirs from taxes while funding the Parkinson’s Foundation’s important work.

You can transfer funds from your IRA directly to the Parkinson’s Foundation to make a difference today. This is an effective way to have an immediate impact and support our work of advancing research and providing invaluable educational resources to those affected by the disease. Here’s how it works:

• You must be 70 ½ or older.
• An individual may transfer up to a total of $100,000 per year, and a married couple may give up to $200,000.
• An individual may take a one-time QCD up to $50,000 to fund a charitable gift annuity (CGA) or charitable remainder trust (CRT).
• Your gift must be transferred directly from the IRA account to the Parkinson’s Foundation.
• Your gift is a transfer of funds from your IRA to the Parkinson’s Foundation, so it does not create taxable income for you and is not considered a charitable tax deduction.
• If you are 73 or older, the transfer of funds counts towards your annual Required Minimum Distribution from your IRA.

If you’re interested in this popular way to support the Parkinson’s Foundation, download a sample letter for your IRA administrator here.

Make a QCD Gift

A gift of your life insurance policy is an excellent and easy way to make a gift to the Parkinson’s Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Parkinson’s Foundation. For example, you may have purchased a policy to provide for minor children, and they are now financially independent adults.

Benefits of Gifts of Life Insurance:

• Receive a charitable income tax deduction
• If the Foundation retains the policy to maturity, you can receive additional tax deductions by making annual gifts, allowing us to pay the premiums.
• If the Foundation cashes in the policy, you will be able to see firsthand how your gift supports our charitable work and research programs.
• If we retain the policy to maturity or you name us as a beneficiary, upon the policy’s maturity, the proceeds will be paid to the Foundation, allowing us to utilize them to further our important work.

Transfer ownership now:

To make an impact on our mission today, irrevocably designate the Parkinson’s Foundation as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.

If your policy is not yet paid up, you will make cash contributions to the Parkinson’s Foundation to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.

Name us as a beneficiary:

You can name the Parkinson’s Foundation as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, the Parkinson’s Foundation will receive the proceeds of your policy after your lifetime. You can change your beneficiary at any time and may be able to reduce your estate taxes.

This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator, add Parkinson’s Foundation as a beneficiary, and notify us about your generous intention.