Benedictine Health System

(218) 723-6408
A A

Every Gift Truly Makes a Difference

The Benedictine Living Community of Duluth continues to be blessed by faithful friends who give to this organization with a heartfelt spirit of generosity.  Memorials and other charitable gifts enable us to provide additional programs, services and specialized equipment that otherwise would not be available to individuals and their families.

Tax-Wise Giving Strategies

Here at Benedictine Living Community of Duluth Foundation, we like to take an even more thoughtful approach to assure that our friends achieve all they the allowable tax benefits they can with their gifts.  For example, we sometimes receive gifts of non-cash property such as real estate. The Foundation is ready to assist donors in taking the proper steps and getting expert advice so their appraisals will pass muster with the IRS.

Sometimes we can help you by suggesting the best property to contribute.  A gift of appreciated securities held long term can provide far greater tax advantages than a gift of cash. Due to the added benefit of avoiding capital gain, and the tax that is imposed, the cost of giving for people in the higher tax brackets might be reduced by about one-fourth.

Another tax-wise way to support your favorite charities is to consider a gift from your IRA (individuals age 70 and ½ or older can gift up to $100,000 to charity each year from their retirement assets).  Some generous supporters also see this as a way to afford giving more.  And anyone of any age can name charitable organizations as beneficiaries of some of their retirement assets.  Many of our friends consider naming the Benedictine Living Community of Duluth as a contingent (If my spouse dies before me) beneficiary.  Making this provision is easy to do and there is no more tax-wise asset to leave to charity.

We would be delighted to talk about your interests in supporting charitable originations such as our.  We have insight to share about how you can take care of yourself, your family and your charitable interests. This extra step makes certain that your important gift will accomplish all you want for Benedictine Living Community of Duluth.

To learn more about tax-wise ways to support charity, call us at 218-529-5804, or browse our terrific website for more information and resources. 

 

MORE DETAILS AND RESOURCES ON TAX WISE STRATEGIES...

 

Charitable IRA Rollover

Donors age 70 ½ and older can give up to $100,000 each tax year to charitable organizations such as yours without realizing taxable income. Click here to learn more.

 

Beneficiary Provision of retirement assets (also called IRD Assets)

Donors of any age can name charitable organizations as end-of-life beneficiaries of their retirement assets (IRS, 401k, 403b).  This charitable gift also has a tax benefit, as this income passes to charity without ever having been taxed.  Many of our constituents might consider a contingency beneficiary provision (for example, if my spouse pre-deceases me, I’d like 30% of my retirement assets to go to charity, the rest to our children). Learn more here.

 

Gifts of Stock Shares

Donors with appreciated shares of publicly traded stock can enjoy special tax benefits by transferring the shares directly to our brokerage account.  They get the full value of the price of those shares on the day the transfer takes place AND avoid having to realize appreciated income on those shares.  Find more details here.

Benedictine Living Community of Duluth 935 Kenwood Avenue, Duluth, MN 55811 (218) 723-6408