We know that your decision to team up with Vail Health Foundation comes from the heart. Your kindness is especially heartwarming, given how tough the economy has been this year.
Because you might have a lot going on in the final weeks of 2023, we wanted to make you aware of some important deadlines before the end of the year approaches. You can still do so much to change the lives of those we serve in our mountain communities.
An added bonus: Your gift may qualify for a tax break this year when you itemize deductions on your federal income tax return.
Consider These Gift Options
Here are three types of assets that can benefit both of us:
If you are 70½ or older, you can give any amount up to $100,000 per year from your IRA directly to our organization. You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use this transfer to satisfy your obligation.
To do: We must receive your gift by Dec. 31. If you have check-writing features on your IRA, your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.
Avoid paying taxes on the appreciated value and qualify for an income tax charitable deduction based on today’s market value when you itemize.
To do: Complete the transfer by Dec. 31.
Donor Advised Fund
Now is a great time to contribute to an existing fund and enjoy a tax savings when you itemize. You can then recommend a grant (or recurring grant) to Vail Health Foundation.
To do: Complete the contribution by Dec. 31. You do not have to designate the funds this calendar year to receive the tax benefits.
Who Changed Your Life?
If you know someone who inspired you and values the meaningful work we do at our organization, consider making a donation in their honor. These tribute gifts are also a great way to remember loved ones who are no longer with us.
Let’s Team Up
As we approach the end of the year, we’re happy to help ensure that you can support our mission and also get the most benefit. Please feel free to contact Aaron Ciszek at 970.569.7574 or firstname.lastname@example.org and Anne Walters at 970.569.7648 or email@example.com for free resources.
You may also visit our Planned Giving website to learn more and sign up for our newsletter.
Information contained herein was accurate at the time of printing. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.