MAKE LASTING IMPACT NOW and BEYOND YOUR LIFETIME!
Would you like to consider supporting Auburn Public Schools Foundation with a gift in your will or estate plan? Many folks think about planned giving but never make specific arrangements. It can be as easy as updating a beneficiary statement, using specific language in your will or estate plan, or making a tax favored gift directly from an IRA. Following is a short list of ideas that are utilized by folks who plan to give. Always remember to consult your financial professional, tax advisor, and/or attorney to explore details and to maximize the benefit to you personally and to the cause you support and cherish!
APSF Legal Name: AUBURN PUBLIC SCHOOLS FOUNDATION
TAX ID # (EIN): 45-3713074
How You Can Help:
BENEFICIARY STATEMENTS
The following types of accounts may have beneficiary statements:
Life Insurance Policies
Annuities
401(k) plans or similar workplace retirement plans
Individual Retirement Accounts (IRAs)
Trusts
Bank accounts, including savings, checking, CDs, & IRAs
SAMPLE GIFT-IN-WILL LANGUAGE
Leaving a gift in your will (sometimes called a bequest) to a charity that you love is a great expression of your personal values, and may be simpler than you think. We’ve developed language for the most common types of in-will gifts. These are suggestions and should be written or adapted by your legal counsel to fit your situation.
General Support. “I give to Auburn Public Schools Foundation of Auburn, WA (EIN 45-3713074) the sum of $__________ (OR all my right, title and interest in the following described property _________) to be used in such manner as the Board of Directors of said organization shall, in its sole discretion, determine.”
Residuary Bequest. “I give to Auburn Public Schools Foundation of Auburn, WA (EIN 45-3713074) the residue of my estate to be used in such manner as the Board of Directors of said organization shall, in its sole discretion, determine.”
Proportional Bequest. “I give to Auburn Public Schools Foundation of Auburn, WA (EIN 45-3713074) [A STATED PERCENTAGE OR A FRACTION OF THE RESIDUE OF MY ESTATE] to be used in such manner as the Board of Directors of said organization shall, in its sole discretion, determine.”
Contingent Bequest. “In the event that [NAME OF SPOUSE, CHILD, SIBLING, OR OTHER HEIR] shall not survive me, then I give the same to Auburn Public Schools Foundation of Auburn, WA (EIN 45-3713074) to be used in such manner as the Board of Directors of said organization shall, in its sole discretion, determine.”
AGE 70 1/2 + IRA DISTRIBUTIONS
Qualified Charitable Distributions or QCDs. A QCD offers folks over age 70 1/2 an avenue to make the most of their funds both philanthropically and financially, without increasing their taxable income. A direct transfer from an IRA or 401(k) to a qualified charity, is not taxed and is excluded from the owner's taxable income. QCDs allow folks to give tax free to charity up to $100,000 per year. For those who are at least 73 years old, QCDs count toward the required minimum distribution (RMD) for the year. Auburn Public Schools Foundation is a 501(c)3, EIN 45-3713074, and eligible to receive QCDs, and as such does not pay income tax. Thank you for considering APSF as a recipient of any opportunity you may have to donate qualified funds to charity.