Leaving a Legacy With Your Contributions
By Tracey Cholish, Director of Development
As the year comes to a close, the season of giving is in full swing. For those passionate about supporting organizations like Pink Fund, there are many ways to leave a lasting impact on the lives of the women and families we fund throughout the year. Outside of fundraising and direct donations, here are a few ways to round out your charitable gifts at the end of the year.
Bequests. A bequest can be an impactful way to ensure ongoing support for the mission. A bequest, outlined in your will or trust, designates a portion of your estate—whether cash, stock, or property—to be gifted to the charity. This generous act can contribute to the organization’s general fund or be allocated to their endowment, leaving a lasting legacy of support.
To leave a bequest to Pink Fund, consider including specific language in your will or trust. An unrestricted bequest grants flexibility, allowing the organization to allocate the gift where it's most needed for their mission. On the other hand, a restricted bequest specifies the purpose for which the funds should be used, offering donors the chance to direct their support toward a particular area of focus within the organization.
To leave a bequest, you will need to note the charity’s EIN and to inform the organization of your intentions. This not only allows them to recognize your future gift but also helps streamline the process for executing your wishes.
Gifts of Stock. Gifts of appreciated stock can provide tax benefits, allowing you to potentially avoid capital gains tax while receiving a deduction for your charitable contribution. To gift your stock, donors should contact their broker directly and will need to contact the charity for transfer details.
Donor Advised Funds (DAFs). Recommending a grant to Pink Fund through your DAF broker or utilizing platforms like DAF Direct can facilitate quick and fee-free donations directly from your fund to the organization. You simply recommend the charity and provide your broker with the foundation’s EIN. They will issue a check directly from your fund to the charity.
Individual Retirement Accounts. If you are 70 ½ or older, your IRA charitable rollover offers a tax-efficient means of contributing up to $100,000 annually to eligible charities. While these rollover gifts don't qualify for a charitable deduction, they provide a tax-free way to support the cause.
For individuals 73 years or older, you can also donate your full Required Minimum Distribution (RMD) to a charity without having to pay income tax on the distribution but must do so by December 31 each year.
Contact your IRA plan administrator to make a gift from your IRA to us.
Major Gifts. Making contributions of $3,000 or more, especially those with multi-year or legacy components, significantly bolster the support available for the mission and program.
By considering a donation, a bequest, or exploring other avenues of support, you become a vital part of a nonprofit’s mission. Your contribution, no matter the size, makes a meaningful impact on the lives of those in need.
If you’d like to support Pink Fund in any of these ways, please visit our Planned Giving page here or reach out to me at tracey@thepinkfund.org to express your intentions or seek further information about how you can play a pivotal role in supporting Pink Fund's cause. Together, we can make a difference and provide essential assistance to those bravely battling breast cancer.
Tracey Cholish is the Director of Development for Pink Fund where she oversees all fundraising operations and donor relations.