IRA or Pension Plan
The Reno Jazz Orchestra is grateful to receive contributions from IRAs. Your qualified charitable distribution (QCD) may satisfy all or part of the amount of the required minimum distribution from your IRA. Generally, a QCD is an otherwise taxable distribution from an IRA owned by an individual who is age 70 ½ (if you reached age 72 7/1/2020) or older that is paid directly from the IRA to a qualified charity, such as the Reno Jazz Orchestra.
After contacting your fund administrator for a rollover form and policies, we encourage you to contact our office to give us notice that your donation is on the way. We often receive checks from banks that are not attributable to a specific donor, so this would allow us to honor your generosity.
When bequeathed to anyone other than a spouse, these may be subject to high taxation. But by naming the Reno Jazz Orchestra as the recipient of any benefits remaining in your retirement plan, you may effectively reduce the taxes on those assets.
Charitable Remaining Trust
Donors can make a legacy gift and receive tax-free income for life through a charitable remainder trust (CRT).
A CRT might be useful if you want to supplement your existing retirement income, provide income for other loved ones, avoid capital gains or other tax exposure, or convert another type of asset into a stream of income. A CRT can be funded with cash, securities, debt-free real estate, tangible personal property, and other kinds of assets.
Charitable Lead Trust
By creating a charitable lead trust (CLT), you can support the Reno Jazz Orchestra and still make gifts to children or other family members in the future. A CLT can make distributions of a predetermined amount, either a fixed dollar amount or a set percentage of the initial value of the trust assets, to the Orchestra for a specific term of years. At the end of the trust term any remaining assets in the trust pass to individuals whom the donor chooses, such as children or grandchildren.
Stocks and Bonds
You may be able to claim a Federal income tax deduction based on the full fair value.
Donor Advised Fund
This option allows you the opportunity to receive tax benefits for several years’ worth of charitable donations. Simply, it is a charitable savings account and puts all your donations in one place.
To learn more about how you can be a Legacy Society member, please contact us today at email@example.com or call 775-372-6160.
Note: The Reno Jazz Orchestra is a 501 (c)(3) nonprofit organization. All contributions are tax-deductible to the extent permitted by law. Upon purchase, a letter will be sent to you to confirm your tax-deductible donation.