Want to support Mendez Scholarships Non-Profit? Here are four tools for donating.
Charitable Remainder Trust
What it lets you do: Begin charitable giving while you still draw an income!
How it works: You decide how much you want to donate to Mendez Scholarships Non-Profit, how long you want to receive any income, and what percentage of the investment you want as income. For example, you set up a charitable remainder trust for $5,000 and arrange for the trust to pay you 4% a year for ten years. After that, the remainder belongs to Mendez Scholarships Non-Profit.
Bonus: You receive a sizeable one-time IRS tax deduction (under section 170 of the Code).
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Charitable Lead Trust
What it lets you do: Donate to Mendez Scholarships Non-Profit and leave an inheritance to your kids.
How it works: You invest a certain sum, with the income stream going to Mendez Scholarships Non-Profit today. When you pass on, the remainder goes to your heirs. The donation you make can be significant. Set up a $50,000 trust, for example, and arrange a 5% annual annuity payment to Mendez Scholarships Non-Profit for 20 years.
Bonus: You’ll receive a one-time charitable deduction; for tax purposes (under sections 2055 and 2106).
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Donor-Advised Fund
What it lets you do: Set aside money earmarked for Mendez Scholarships Non-Profit even before you’re absolutely sure where you want to donate it.
How it works: Donor-advised funds, which are typically run by major mutual fund companies or community foundations, allow you to make large donations to the fund – and receive the large tax write-off (under section 2522 of the Code) – in a particular year, all at once, rather than over the life of the gift.
Bonus: You still get to disburse the donation over a period of years.
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Health & Education Exclusion Trust (HEET)
What it lets you do: Pay for all levels of education, (tuition only) for one generation or many, and avoid federal or state contribution caps because there's no limit to how much money is put in.
How it works: Make payments directly to your choice of an accredited, upper education institute, then name Mendez Scholarships Non-Profit as a co-beneficiary (this eliminates the onerous generation-skipping transfer tax known as GST). Ear mark half of the trust's annual income for Mendez Scholarships Non-Profit or ear mark a preset amount each year, subject to a cost-of-living adjustment.
Bonus: Your donation's subsequent appreciation is not subject to estate taxes.
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To donate please email mscholars@mendezscholars.org.
Mendez Scholarships Non-Profit℠thanks you in advance for your donation. |
