Gifts That May Reduce Your Taxes

The various ways to support Water for South Sudan may also help reduce income taxes, estate taxes, and capital gains taxes.

IRA Charitable Distribution

You can use your Required Minimum Distribution (RMD) to make a qualified charitable distribution (QCD) from your IRA directly to Water for South Sudan, so it does not create taxable income for you.

  • Here’s how it works:

    You must be 70 ½ years or older.

    An individual may transfer up to a total of $100,000 per year, and a married couple may give up to $200,000.

    Your gift must be transferred directly from the IRA account to Water for South Sudan.

    Your gift is a transfer of funds from your IRA to Water for South Sudan, so it does not create taxable income for you and is not considered a charitable tax deduction.

    Fund transfers count towards your annual Required Minimum Distribution (RMD) from your IRA.

    Contact us if you’re interested in this popular way to support Water for South Sudan.

Retirement Plan

Because retirement plans are taxed differently than most assets, they may become a tax liability.

  • Naming Water for South Sudan as a beneficiary of your retirement account can be an attractive option for leaving a legacy and reducing income and possibly estate taxes for your loved ones.

    Income taxes to your beneficiaries on retirement assets can be as high as 37%. This means, for example, that a $100,000 IRA will be worth only $63,000 when it gets to your loved ones.

    Naming Water for South Sudan as a beneficiary of your retirement assets generates no income taxes. Water for South Sudan is tax-exempt and eligible to receive the full amount, bypassing any income taxes. This means, for example, that a $100,000 IRA given to an organization will be worth the full $100,000.

    Contact your plan’s administrator to specify Water for South Sudan, Inc., as a beneficiary. Our Federal Tax ID Number is 20-0291592.

Life Insurance Plan

A gift of life insurance is an affordable way to secure tax savings during your lifetime while continuing your support for Water for South Sudan.

  • Benefits include:

    • You can give a significant gift from disposable income at a fraction of the value.

    • Tax savings can be immediately realized.

    • Your donation could reduce the final taxes of your estate.

    • Insurance gifts pass outside of the estate.

Gifts of Real Estate

When you transfer ownership of real estate to Water for South Sudan, you can reduce your taxes by deducting the appraised value of the property from your income tax liability and by avoiding capital gains tax liability. This kind of gift also removes the property from your estate and relieves you of any future management worries. If interested in this type of gift, please contact us to discuss.

Gifts of Stock

By giving stocks, bonds, and mutual funds that have appreciated in value, you may receive a charitable income tax deduction for the full market value of the stock (up to a maximum of 30% of your adjusted gross income) and avoid paying the capital gains tax on any increase in the value of the stock.

  • Stock donations may be transferred electronically or delivered to any Charles Schwab office.

    Please reference Water for South Sudan, Inc., DTC# 0164, account #4541-6397, and alert the WFSS office that you have made a gift. Contact us or call 585-383-0410.

    Another way to donate stock (3% transaction fee): https://DonateStock.com/water-for-south-sudan