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Mercy Mall offers several tax-efficient ways for you to support families experiencing crises through your retirement funds. Whether you are looking for immediate impact or long-term legacy giving, here are the options available:

1. Qualified Charitable Distributions (QCDs)

  • For IRA holders aged 70½ or older
  • Donate directly from your IRA to Mercy Mall tax-free
  • Counts toward “Required Minimum Distributions (RMDs)” (for those aged 73 and older).
  • Avoids income tax** on the distribution.
  • Can donate up to “$100,000 per year” (adjusted for inflation starting in 2024).
  • How to Give:  Contact your IRA custodian and request a direct transfer to Mercy Mall.

 2. Donor-Advised Funds (DAFs)

  • A “DAF” allows you to contribute funds, receive an “immediate tax deduction”, and distribute funds over time.
  • Gifting appreciated assets (stocks, mutual funds, etc.) avoids capital gains taxes.
  • How to Give: Recommend a grant to Mercy Mall through your DAF sponsor (e.g., Fidelity Charitable, Schwab Charitable, Vanguard Charitable).

3. Naming Mercy Mall as a Beneficiary

  • Designate Mercy Mall as a beneficiary of your IRA, 401(k), or other retirement account.
  • Avoids income and estate taxes on the remaining funds.
  • A simple way to leave a lasting legacy without affecting current finances.
  • How to Give: Update the “beneficiary designation form” with your plan administrator.

4. Charitable Remainder Trust (CRT)

  • Transfer retirement assets into a trust that provides “income for life” (or a set number of years), with the remainder benefiting Mercy Mall.
  • How to Give: Work with a financial advisor or estate planner to establish a CRT.

5. 401(k) or IRA Rollover to a Charitable Gift Annuity (CGA)

  • Convert retirement assets into a “fixed lifetime income stream”, with the remainder going to Mercy Mall.
  • How to Give: Discuss CGAs with a financial institution that offers them.

6. Charitable Lead Trust (CLT)

  • Provides income to Mercy Mall for a set period before the remaining assets pass to heirs or beneficiaries.
  • Can reduce gift and estate taxes while supporting Mercy Mall’s mission.
  • How to Give: Work with an attorney or financial advisor to create a CLT.

❓Need Help Getting Started?

We recommend consulting your financial advisor or estate planner to determine the best giving strategy for your situation.

For questions about how your gift can make an impact, contact Mercy Mall at stacey@mercymallva.org.

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