Gifts of Stock
There are several benefits to funding your gift to Friends of Tenwek with a gift of publicly-traded stocks, bonds, or mutual funds:
∗ You can receive a charitable tax deduction for the full, fair-market value of the asset.
∗ You avoid capital gains taxes on the appreciated value of the asset.
∗ You keep the cash you might have otherwise given.
∗ None of the asset value is lost to taxes – Friends of Tenwek receives the full value of the asset.
∗ The value of the asset may exceed the cash gift you were planning to make – thus enabling you to make an even larger gift.
Friends of Tenwek accepts gifts of securities through a designated account with the National Christian Foundation (NCF). To make a gift of stock:
Step 1 – Ask your broker/advisor to transfer stock or mutual funds to The Friends of Tenwek Single Charity Fund (#3444319) with NCF.
Detailed instructions about this simple, two-step process are included in the Letter of Authorization form that opens when you select the button below:
If you have any questions about how to make this gift, please contact Janie Leland at email@example.com to discuss your intention. Thank you!
IRA Charitable Rollover
The IRA Charitable Rollover provision allows individuals who have reached age 70½ to donate some or all of their Required Minimum Distribution from an Individual Retirement Account directly to a charitable organization like Friends of Tenwek. This “qualifying charitable distribution” will not be counted as taxable income to you – which reduces your tax liability. To make this kind of donation, contact the financial institution serving as the Trustee for your IRA and ask it to process this transaction directly to FOT. (You lose the tax benefit if you take the distribution and then make the donation.)
Leave a Legacy of Hope and Purpose
Your support for God’s work at Tenwek Hospital can continue through legacy giving. If you have created a Will, you can name Friends of Tenwek as a beneficiary of a specific amount or percentage of your estate. While most assets would be taxable if passed to heirs – they are not taxed if the beneficiary is a charitable organization. This means that 100% of the value of the asset can be used by Friends of Tenwek to support the mission and work of Tenwek Hospital.
Without a Will, you also can bequeath certain assets to a charity like Friends of Tenwek by designating it as a beneficiary of the policy or account.
∗ You can designate Friends of Tenwek as the primary or contingent beneficiary of a life insurance policy.
∗ You can designate all or a specific percentage of the remaining balance of an insurance annuity to Friends of Tenwek.
∗ You can designate Friends of Tenwek as the beneficiary of all or part of the balance of an IRA, 401(k), or other qualified retirement plan.
∗ The balances of many common financial accounts – checking, savings, money market, certificates of deposit and U.S. savings bonds – can be passed directly to Friends of Tenwek outside of a Will, through a payable on death designation.
To make or change a beneficiary designation for any of the accounts listed above, contact the financial institution or insurance company that holds the assets. Any beneficiary designation can be modified If your circumstances change.
As you consider legacy giving, you want the peace of mind that comes from knowing you have provided for your family. You can do this by naming family members as the primary beneficiaries of a particular asset and Friends of Tenwek as the secondary or contingent beneficiary.We will receive the gift only if your primary beneficiaries predecease you.
If you decide to name Friends of Tenwek as a beneficiary, please remember to notify us of your intention. Even if you prefer no public acknowledgement, we want to privately acknowledge your generosity and thoughtfulness.
The information presented here is not intended as legal or tax advice. For legal or tax advice, please consult an attorney or financial advisor.