---

Giving to the Foundation: Ways to Give

Retirement Plan Assets or or Assets from an IRA (Individual Retirement Account)

Naming a qualified charity such as the Foundation as the beneficiary of a qualified retirement plan is becoming an increasingly popular way to give. Because of the way qualified plans are taxed, at death relatively little of the assets in the plan may end up in the hands of family members or beneficiaries. These assets not only are included in the decedent’s gross estate for federal estate tax purposes, but are also taxed when received by the beneficiaries as income in respect of the decedent.

Funding a charitable gift to the Foundation with these assets generates an estate tax charitable deduction. In addition, the Foundation will not have to pay income tax on the assets when they are received. Using plan assets for a gift to the Foundation and using other assets for family members can be beneficial to all.

To our donors: Your gift to the Pellissippi Foundation will impact your financial situation. This Web site does not provide legal or financial advice. Consult your attorney, tax adviser, and the Foundation before making or planning a gift.

Back to Ways to Give