Planned Giving
Two ways to support DAM that cost you nothing today.Give from your IRA, or leave a legacy gift |
Section 1
Qualified Charitable Distributions
If you're 70½ or older, you can give to DAM directly from your tax-deferred retirement fund— and it may be the most tax-efficient gift you can make.
A Qualified Charitable Distribution, or QCD, is a transfer sent directly from your retirement fund custodian to a charity. The money never passes through your income. That's different from taking the distribution, paying tax on it, and then donating what's left.
Why people use them
→ The gift is excluded from your taxable income rather than claimed as a deduction. That means you get the benefit whether or not you itemize — which matters, because most retirees now take the standard deduction.
→ It counts toward your required minimum distribution. If you're at the age where you have to take money out of your tax-deferred retirement fund whether you want it or not, this lets that withdrawal do something you'd actually choose.
→ It lets you donate to things that matter the most.
The details
- You must be 70½ or older on the date of the transfer.
- Each year there is a limit per person (or couple). Make sure to check with your tax professional for the current limits.
- Funds must go directly from your retirement fund custodian to DAM. If the check comes to you first, it doesn't qualify.
- QCDs come from IRAs — traditional, rollover, or inherited as well as other tax-deferred retirement funds. Not all retirement funds qualify.
- Gifts must go to a qualifying public charity. Donor-advised funds and private foundations don't count.
- The deadline is December 31 of the tax year you want it to count for. Custodians get slow in December — start in the fall.
To make a QCD to DAM, your custodian will need:Legal name: Davis Aquatic Masters EIN: 94-2412714 Mailing address: PO Box 921 Davis CA 95617
Please let us know a gift is on the way — QCD checks often arrive with no donor name attached, and we want to thank you properly. Contact admin@damfast.org. |
Section 2
Include DAM in your estate plans
Some of the people who have shaped this club most have been swimming with us for thirty years or more. A gift in your will or trust is a way to make sure the water is still here for the swimmers who come after you.
The simplest ways to do it
→ A gift in your will or living trust. A specific amount, a percentage of your estate, or whatever remains after your other bequests are fulfilled. Adding it is usually a short amendment rather than a rewrite.
→ Name DAM as a beneficiary of a retirement account. This one is worth a close look. IRAs and 401(k)s are among the least efficient assets to leave to individual heirs, because your beneficiaries generally owe income tax on what they withdraw. A nonprofit doesn't. For many families, leaving retirement assets to charity and other assets to heirs delivers more to everyone.
→ Name DAM as a beneficiary of a life insurance policy or bank account. Often just a form, with no attorney required.
Suggested bequest language for your attorney"I give and bequeath to Davis Aquatic Masters, a nonprofit corporation located in Davis, California, EIN 94-2412714, [the sum of $____ / ____ percent of my residuary estate] to be used for its general purposes." Please make sure to validate the language for any bequests with your attorney. |
Please tell us if you've included DAM.
There's no obligation and we'll keep it private if you prefer — but knowing helps us plan, and we'd like the chance to thank you while you're still swimming with us. Contact Sally Hamilton at admin@damfast.org.
DAM is not a tax or legal advisor, and nothing on this page is tax or legal advice. Tax rules change and individual circumstances vary widely. Please consult your own attorney, tax professional, or financial advisor before making a planned gift.
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Photo Credit: James Rokop Photography | www.rokophotography.com |