Give to Build Your Legacy
Tax-deductible gifts are an easy way to ensure lasting, community-wide change when you give through a bequest in your will or make other planned legacy gifts. By planning a legacy gift, you can create a lasting impact that will benefit future generations, ensuring a brighter tomorrow for all. See below for more information about how to make a bequest or special gift to Prairiewoods:
Gifts of Appreciated Securities
If you have shares of stock or mutual funds that have appreciated in value, consider donating some of them to Prairiewoods. You can put the full value of those securities to work serving our mission of eco-spirituality and holistic health, and avoid paying tax on the capital gains. If you’ve owned the shares for longer than one year, you may also be able to deduct the full fair market value from your taxable income.
Speak with your financial advisor to see whether this might be a good option for you, and call Leslie Wright, Executive Director at 319-395-6700 ext. 205 for transfer instructions and to learn more.
Qualified Charitable IRA Distributions
Donors aged 70 ½ or older may make a gift to Prairiewoods directly from their IRAs without claiming it as taxable income – and it counts toward their required minimum distribution (RMD)! In addition to the minimum age, there are a few important requirements.
- The distribution must go directly from the IRA account to Prairiewoods.
- Taxpayers are limited to a total of $108,000* in qualified charitable distributions (QCDs) per year.
- These gifts do not qualify for a tax deduction, but unlike other distributions from an IRA, QCDs are not subject to income tax in the first place.
- QCDs must come from traditional IRAs. Other qualified retirement plans, such as 401(k) and 403(b) accounts do not qualify, so you would need to make a tax-free transfer of funds from those accounts to an IRA first, then make the distribution to Prairiewoods.
We encourage you to speak with your professional financial advisor to determine whether a qualified charitable IRA distribution is right for you. Call Leslie Wright, Executive Director at 319-395-6700 ext. 205 for transfer instructions and to learn more or to let us know a gift from your IRA is on its way.
*Maximum amount adjusted annually for inflation.
Bequests
A gift to Prairiewoods through a provision in your will or trust is a simple, flexible way to help ensure that future generations will benefit from the spaces and programs Prairiewoods offers. We welcome the opportunity to speak with you about how such a gift will make a difference.
A bequest may be for a specific amount or specific assets, a percentage of your estate or trust, or for a portion of the residue after specific bequests are fulfilled. We encourage you to consult with your attorney and financial advisor about the provision that best meets your objectives. When you do, please share the information below.
Legal name of organization:
Franciscan Sisters of Perpetual Adoration
FBO Prairiewoods Franciscan Spirituality Center
Federal Tax ID Number: 39-0806386
Address: 120 E. Boyson Road
Hiawatha, IA 52233
Suggested bequest language:
I leave [$xxx/xx%/residue] to Franciscan Sisters of Perpetual Adoration, a not-for-profit corporation (Tax ID 39-0806386) located in the State of Wisconsin, for the general purposes of Prairiewoods Franciscan Spirituality Center in Hiawatha, Iowa.
Other Ways to Give
Consult with your attorney or financial advisor to explore these giving options.
Deferred Giving Life Insurance
You can name Prairiewoods as beneficiary. Upon your death, the proceeds will establish a charitable fund in your name.
Charitable Remainder Trust
You reserve a life interest for yourself or someone else and, upon your death, Prairiewoods receives the principal. Setting up a unitrust will allow you to receive an annual payout of a percentage of the total value of the trust, while an annuity trust allows you to receive a fixed payout regardless of the fluctuation in value. You can also donate interest in your home or other property and maintain possession during your lifetime while receiving an immediate income tax deduction.
Charitable Lead Trust
Prairiewoods would receive annual income for a designated number of years. At the end of the time, the principal is paid to named beneficiaries. A lead trust allows you an immediate charitable gift with transfers to beneficiaries at reduced gift and estate tax. Consult with your attorney and financial advisors when deciding to make a planned gift.
Retirement Fund Beneficiary Designation
Naming Prairiewoods as a beneficiary of your retirement plan account, such as an IRA or 401(k), can be an extremely savvy way to support our spirituality center for future generations. Why? Because any funds from these accounts going to heirs will likely be subject to income tax, as well as estate tax if applicable. As a tax-exempt charity, Prairiewoods will not pay tax on those funds, preserving their entire value.
Including Prairiewoods as a beneficiary of your qualified retirement plan account usually requires only a beneficiary designation form available from the financial firm administering the account. Please use the following information, and of course, discuss this first with your professional estate and financial advisors.
Legal name of organization:
Franciscan Sisters of Perpetual Adoration
FBO Prairiewoods Franciscan Spirituality Center
Federal Tax ID Number:
39-0806386
Address: 120 E. Boyson Road
Hiawatha, IA 52233