Estate planning (also called planned giving) is the process of charitable, legal, financial, and tax planning to carry on your legacy.
Types of planned gifts
Planned giving provides donors with an opportunity to make a significant, lasting contribution to Ronald McDonald House Charities of Central Florida. These gifts can be in the form of bequests, IRA contributions, and more.
Benefits to you and your family
If you are 70½ years old or older, you can take advantage of a simple way to benefit RMHCCF and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you reached the age of 70½ on or before Dec. 31, 2019, you can use your gift to satisfy all or part of your required minimum distribution for the year. If you turn 70½ on or after Jan. 1, 2020, you can use your gift to satisfy all or part of your required minimum distribution starting at the age of 72. (Note: The RMD requirement has been waived for 2020, per the CARES Act signed into law on March 27, 2020.)
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
If you include RMHCCF in your plans, please use our legal name and federal tax ID.
Legal name: Ronald McDonald House Charities of Central Florida
Address: 1030 N. Orange Avenue, Suite 105, Orlando, FL 32801
Federal tax ID number: 59-3211250
For more information
Please email our President/CEO Lou Ann DeVoogd or give her a call at (407) 206-0957 ext. 101.