SUPPORT
CHS
Planned Giving
Beginning in the early 1900's, gifts from the estates of faithful friends were important to our survival during tough economic times. Today, with diminishing government funding, planned giving is critical so we can maintain excellent standards of care, meet the increasing demand for services, and expand our prevention services.
Our Foundation staff can assist you directly or work with your financial advisors to explore your charitable estate planning options.
Leaving a legacy
Today, there are a wide variety of gift vehicle options in estate planning. One of the most common is a bequest through a will. Beneficiary designations through retirement plans or life insurance can also be an easy way to provide for charitable organizations. There are different kinds of trusts that can be established, which can be advantageous gift vehicles for you while also providing a charitable component.
Unless designated for a specific purpose, the estate gifts we receive are used to grow the Children's Home Foundation endowment from which a board designated percentage (typically 5%) is distributed annually to fund the programs and services of Children's Home Society.
This is the preferred language for estate planning to support Children's Home Society:
For bequests or trusts: "I bequeath [ ] to Children's Home Foundation, 801 N Sycamore Ave., Sioux Falls, SD 57110 (Federal Nonprofit ID#: 46-0366277) to support the mission of Children's Home Society of South Dakota."
For beneficiary forms or other documents with limited space: Children's Home Foundation, Sioux Falls, SD.
If space allows, you may also include the address and Federal ID# specified in the bequest language above.
Unless you prefer to remain anonymous, we would be honored to include those who have made an estate provision for us as one of our Guardians of the Children. Guardians of the Children is a legacy group we have established to recognize and honor those whose vision, philanthropy, and love of children has been demonstrated by a planned estate gift for Children's Home Foundation.
For more specific examples, download our Bequest Language PDF:
IRA Gift Provision
The Protecting Americans from Tax Hikes (PATH) Act of 2015 makes permanent the IRA Charitable Rollover provision that has come and gone several times over the past 10 years. A direct distribution from an IRA can be a great way to provide a charitable gift.
BENEFITS TO THE DONOR
- Allows the donor to avoid receiving an IRA distribution as taxable income.
- May lower the donor’s income tax rate.
- The gift counts toward the Required Minimum Distribution (RMD).
RULES
- The donor must be age 70½ or older.
- Gifts are allowed up to $100,000.
- The gift must be a direct distribution from the IRA to the charitable organization.
- The transfer generates neither taxable income nor a tax deduction.
- The gift may not be used to fund a gift annuity, charitable remainder trust, donor advised fund, or private foundation.
- You may not receive any goods or services in return for the gift.
Stock Donations
Making donations of equities/stock to help charitable organizations can also benefit your income tax situation. The more your stock has appreciated, the bigger the benefit can be for you.
When you donate stock (held over one year) you avoid capital gains tax, but you can still get a charitable deduction for the full market value of the stock. For details, we suggest checking with your financial advisor.
