It’s 2021. Where Do I Go From Here?
How to Be Charitable in the New Year
The possibility of new tax laws and additional relief packages continue to make the news. Required minimum distributions are back. The stock market is fluctuating. If you’re keeping a close eye on your finances, but are still invested in the impact that MSK and other nonprofits can make, here are some simple ideas that won’t hit your budget today.
- Beneficiary designation. Adding Memorial Sloan Kettering Cancer Center as a beneficiary of your retirement plan or other assets is simple and you don’t need to leave your home to complete the gift. Since the funds are granted after your lifetime, you can maintain your family budget today.
- Gift in your will. With as little as one sentence, you can create a brighter tomorrow at MSK without parting with assets today. You can designate Memorial Sloan Kettering Cancer Center as the beneficiary of a specific asset or, as many of our donors do to ensure that their family is protected, as the recipient of a percentage of the total estate. Please contact the Office of Planned Giving at email@example.com for the wording you can share with your estate planning attorney.
- Grant from your donor advised fund (DAF). This popular one-stop giving solution lets you care for multiple causes and organizations with minimal paperwork. Consider it a charitable savings account where money waits until you’re ready to distribute it. And, when you use your existing DAF to recommend a grant to MSK, it means you can advance cancer care without impacting your budget today.
- Distribution from your IRA. Beginning the year you turn 72, you are again required in 2021 to take your required minimum distribution (this was suspended in 2020). You can use a gift from your IRA to satisfy all or part of your required minimum distribution. Contact us to learn more about this tax-savvy gift.
We Are Here for You
Supporting cancer research and care at MSK doesn’t have to mean giving up assets today. Contact the Office of Planned Giving at firstname.lastname@example.org or 800-688-1827 to learn more and find the gift that works for you.