A Gift to the Meals On Wheels Endowment Fund is a gift of Dignity.Meals On Wheels serves upwards of 300 people each day. Some are elderly, some are homebound, some are disabled; all simply want to remain in the comfort of their own homes. The Meals On Wheels Endowment Fund was established in 1996 in response to the instability of federal and state funding. In order to continue our proud tradition of providing nutritious home-delivered meals and caring social interaction to some of our most vulnerable neighbors we must have access to alternate funding sources. A contribution to the Meals On Wheels Endowment Fund is a gift to those who might have to suffer the indignity of going on a waiting list for meal delivery. How can you make a contribution?There are several ways: *Send your donation to Meals On Wheels *Support our Annual Fundraisers *Sponsor our newlsetter, The Scoop * Consider making a charitable bequest to Meals On Wheels. The most widely used method for planned giving is a bequest in a Last Will and Testament. A charitable bequest may be in the form of cash, real estate, securities, or other property. There are several ways to provide for Meals On Wheels by bequest:
A Testamentary Trust created by will can provide lifetime support and payments to one or more beneficiaries, with the balance of the trust later passing to Meals On Wheels. An unrestricted bequest may be made, or the donor may designate the specific purpose for which it is to be used. For example, the bequest may establish an endowed fund in the donor’s name or in memory of a person or persons they wish to honor. Outright bequests, whatever the amount, are free from federal estate tax, Wisconsin estate tax, and the inheritance taxes of most other states – as well as being free from federal and state income taxes. The resulting tax savings are substantial; in a large estate they may be 60-80% of the value of the gift to Meals On Wheels. For maximum tax benefit, consider naming Meals On Wheels as a beneficiary of all or a portion of your IRA, 401(k), or deferred annuity, all of which will have large income tax expense to your family. Since Meals on Wheels is a tax-exempt organization we do not pay income tax on these items. Remember also that for 2007 there is a special tax provision allowing you to make contributions to a charity directly out of your IRA, without incurring any income tax on that withdrawal, and with that counting toward your annual required minimum distribution. Charitable bequests may be provided by making a new will or by adding a codicil to the existing will. To ensure that the donor’s exact intentions are carried out, wills or codicils should be prepared by or with the advice of a personal attorney. Charitable bequests can also be made by naming Meals On Wheels as a beneficiary on your life insurance, your IRA or 401(k), or an annuity. There are a number of other more sophisticated estate planning techniques should you desire to give real estate or cash or stocks to Meals On Wheels, yet still retain the use and benefit of that item during your lifetime. Please call 920-451-7011 with questions regarding charitable bequests. |
