If you have any questions, do not hesitate to reach out to us at 918-491-7700 or email email@example.com. We thank you for your generosity, and for all you do for Victory.
When you turn 70½ you have a great opportunity to make an impact on your local nonprofits without affecting your income level. You are eligible to take to make gifts from your IRA account to one or more charities, without first incurring income tax on the withdrawal.
This means that you can direct a gift to Victory, Victory Christian School, or The Tulsa Dream Center with no federal income tax liability. This IRA Rollover provides you with an excellent opportunity to make a gift during your lifetime from an asset that would be subject to multiple levels of taxation if it remained in your taxable estate.
Now, there are some details and restrictions. You must be 70½ or older when you make your gift, and the gift must be made from an Individual Retirement Account – no other retirement plans (such as 401k, 403b or SEP accounts) qualify. Your gift must be paid to a charity or charities, the check cannot come to you and then you send it to the charity. If you do that, you will have to pay tax on the entire distribution. Although it does not create a tax deduction, the distribution will be free from income tax.
The administrator of your IRA will make the distribution to Victory directly. If you have any questions, do not hesitate to reach out to us at 918-491-7912 or email firstname.lastname@example.org. Please let us know in advance so we will be able to identify your gift.
P.S.: IRA administrators don’t always include the donor’s name on distribution checks. If you’re planning to make a distribution to us from your IRA, please let us know in advance so that we’ll be able to identify your gift. And please let us know if you want your gift used for a particular purpose.
Gifts of appreciated securities are a smart and simple way to maximize the effectiveness of your giving to Victory. If stocks or mutual funds that you have held for more than one year have increased in value, you can make a gift of these securities to Victory. By transferring ownership of your appreciated securities to Victory, you make a gift to support our mission, while you avoid capital gains tax you would pay if the securities were sold. You may claim a charitable income tax deduction for the current fair market value of the securities at the time of transfer. To transfer securities from your brokerage account to Victory, simply instruct your broker to electronically transfer your securities out of your account into the Victory brokerage account. Contact us at 918-491-7912 or email email@example.com to get the information to transfer to Victory’s brokerage account and to also provide us with your name and the information on number, name and CUSIP of shares being transferred.
Through your life insurance, you can make a legacy gift to Victory by naming Victory as a beneficiary of your policy. All you need to do is add:
Victory Christian Center, Inc. (Tax ID 73-1118610) as a designated beneficiary for the amount you desire, and these funds will be directed to Victory. If you have any questions about how to give through life insurance, please contact Victory at 918-491-7912 or email firstname.lastname@example.org email@example.com.