to the Wassmuth Center Endowment
Planned giving provides creative strategies for your charitable giving and estate planning. As you consult with your financial/ tax advisor, we hope that you will consider a charitable gift that will have an impact forever on Human Rights Education in Idaho.
Will you consider giving a Living Legacy Gift to the Wassmuth Center Endowment?
Our Wassmuth Center Endowment (WCE) is a permanent investment account professionally managed by the Idaho Community Foundation (ICF) and invested to grow over time to maximize its impact. ICF has almost three decades of trusted professional service to Idaho non-profits like our Wassmuth Center for Human Rights.
Endowment planned giving options, managed through our ICF partner, may offer you tax and other financial benefits. Some are detailed below. In all cases of gifting, the following wording needs to accompany the gift: Wassmuth Center Endowment in the Idaho Community Foundation (Tax ID 82-0425063)
This simple donation option may also be eligible for the 50% Idaho State Tax Credit, in addition to normal Federal/State itemized tax deductions.
Receive a tax deduction for fair market value and avoid capital gain taxes. Please call ICF to notify them of any stock transfer. Stock transfer information:
» Morgan Stanley-Smith Barney, Acct. #140-054604 DTC 0015 or,
» Charles Schwab, Acct. # 8088-9041 DTC 0164
Receive a tax deduction for your donated valuables. ICF will sell the items and will deposit the proceeds to the WCE.
Reduce estate taxes while providing a more substantial tax free donation. Sample Bequest Language: “I give __________(examples: dollar amount, specific property or asset, residual estate, entire estate, etc.) to the Wassmuth Center Endowment in the Idaho Community Foundation (Tax ID 82-0425063).
Your estate gets a charitable tax deduction and the death benefit passes, tax free, to the WCE. What you may have needed earlier in life can now be an inexpensive way to support a significant donation. A few examples:
» List WCE as a beneficiary or a successor beneficiary to a new or existing policy.
» Donate an existing, paid up policy to the WCE (ICF) for a current income tax deduction (of the lesser of cash value or cost basis of your policy)
» Purchase a new policy and name the WCE (ICF) as Owner. Annual policy premiums paid by you are then tax deductible.
Possibly the most tax efficient assets to transfer to charity after your passing. Your heirs may be taxed up to 50%-60% on this asset while the WCE (ICF), when named as a beneficiary, is NOT TAXED . This dramatically increases the impact of your hard-earned assets on your WCE charitable choice.
Note: The distribution must be made directly from the retirement account to the charity. Simply execute a new beneficiary form designating WCE (in ICF) as a beneficiary for a specific amount or percentage.
Qualified charitable distributions are NOW a permanent IRS taxpayer option, up to $100,000 annually per taxpayer. You can plan ahead to make a direct charitable distribution annually from your Traditional IRA after you turn 70 ½ years old. Your hard-earned savings will bypass your income and bypass the taxes you initially avoided via a tax deferred investment vehicle. That means the full amount donated, with 0% tax, is received by the WCE (ICF). It can also fulfill your annual Required Minimum Distribution (RMD). Consult your tax advisor and then contact your IRA manager and register your RMD Donation Intent for this year’s or next year’s Distribution to be directly sent to Idaho Community Foundation.
Note: Donations from a Roth IRA provide tax savings with the standard itemized charitable deduction.
Your appreciated real estate (home, vacation property, vacant land, farmland, ranch, or commercial property) can be gifted to the WCE (ICF) for tax deduction benefits of the full appraised fair market value. Capital Gains tax is avoided and the Net Revenue realized upon sale flows 100% (0% tax) to WCE. Consult with your tax advisor first, and then with the ICF.
May provide annual grants to the WCE (ICF) or opt to close the foundation and transfer all assets to Idaho Community Foundation.
Additional options exist such as creating a Charitable Gift Annuity. In these cases, contact ICF directly for information.
Idaho Community Foundation for Wassmuth Center Endowment
210 W. State St., Boise, ID, 83702
Tax ID # 82-0425063