Giving

If you have been taking a Required Minimum Distribution (RMD) from your IRA each year, please read on. An intriguing new opportunity has arrived in 2023 as part of the SECURE Act.

Background: If you are age 70-½ or older, you may re-direct funds coming out of your IRA (your RMD) to charitable causes. These are called QCDs or Qualified Charitable Distributions. You simply ask your IRA custodian to send your RMD funds to your favorite charity rather than taking the income yourself. Two tax-wise reasons to deflect these funds to charity are that (1) this fulfills a gift to charity that you wish to make and (2) it reduces your taxable income. Plus, you are donating funds you’ve already saved up, so you don’t feel the pinch in your checkbook.

What’s new for 2023: If you have a large RMD to re-invest or donate, this new opportunity may suit you nicely. Starting in 2023, instead of giving your QCD directly to charity, you may use up to $50,000 of your RMD to fund a charitable account that will provide you with income for the rest of your life. Basically, the funds come out of your IRA and are placed in a charitable vehicle that generates a fixed income based on your age. At the end of your life, the funds remaining go to the charity you have named, such as Way to Grow. This is currently a one-time opportunity.

Way to Grow would be delighted to be your named beneficiary for a future gift, so our work to support children and families can thrive in the future. Of course, those who make a planned gift provision for Way to Grow are eligible for membership in our Shine Legacy Society. For more information, please give us a call at (612) 874-4740 and we will be pleased to walk you through the details. We would love to hear from you!

As Thanksgiving approaches, please know that gratitude abounds at Way to Grow for all of the gifts we receive to support our intensive home visiting work with children and families. Our hearts are moved by the generosity we see in action each day, knowing we could not have a deep impact without the many donors who fuel our work by sharing their blessings at all levels.

This is the most common time of year for people to consider their charitable giving for the year. It is a time to reflect on our values, which charities are truly having an impact, and what is most meaningful to each of us in improving our community and world.

As you review possibilities and put your gifts in motion, we hope Way to Grow’s innovative and highly effective early childhood education, elementary education, health education and teen parenting programs are top of mind. This year, 98% of Way to Grow children tested ready for kindergarten, as our dedicated staff developed new interventions and refreshed curriculum for parents. This is only possible through donations from those who believe, like Way to Grow does, that every child should have an opportunity to succeed in school and in life.

Your gift can help parents stabilize their homes for their families, and help children learn to read and pursue their dreams, strengthened by literacy and the confidence this brings. What could be more beautiful than a happy, healthy child on the pathway to success? We’ve served over 600 families this year, representing over 1,000 happy, healthy children!

Way to Grow will be grateful for your renewed or increased support in 2022! Here’s how:

Go online: With a few keystrokes, you can set in motion an automatic monthly gift or make a one-time gift here.

Mail a check: We love checks! Simply send your gift to Way to Grow, 201 Irving Avenue North, Suite 100, Minneapolis, MN 55405. Your envelope should bear a 2022 postmark.

Shares of stock: If you own stock that’s grown in value – and that you’ve held for a year or longer – it may be tax-wise to transfer the shares to Way to Grow (rather than selling them). Here’s why. First, you’ll avoid paying capital gains tax on the shares’ growth, and Way to Grow will receive 100% of the proceeds tax-free as a charity. Plus, you’ll enjoy a tax deduction for the full fair market value of the shares (rather than the basis you paid for them). Third, these gifts don’t drain your checkbook. For details, call us at (612) 874-4740.

Qualified Charitable Distribution (QCD) from your IRA: If you are age 70-1/2 or older, you can send a gift to Way to Grow directly from your IRA. This bypasses your federal tax return, so it is not counted as income, nor deducted as a gift, and if you are 72, it can fulfill your Required Minimum Distribution. Even better, you are using pre-tax dollars to make a gift, so the gift costs you less. Individuals can give up to $100,000 each year to qualified charities through this method, putting already saved up dollars into action now to serve neighbors in need.  Way to Grow would be delighted to receive your IRA gift! For assistance, check with your tax advisor or call us at (612) 874-4740.

Sincere thanks to you! Way to Grow wishes you and yours a healthy and happy holiday season!

With school back in session, calendars are filling with autumn activities, sports events, social gatherings and charity galas (ours is October 14 – join us!). The pace of life is speeding up, and it seems impossible to fit everything in.

As autumn unfolds, we hope you’ll note moments when your heart is stirred to help others through personal generosity. Way to Grow’s work continues every day to serve children and families to ensure that every child has an equal opportunity to succeed in school and life. What could be more important than children reaching their potential in life by getting the best possible start? Your yearly gift — or automatic monthly gift – will help ensure Way to Grow’s work is sustained and strengthened. Please give as generously as you can here.

If you are age 70-1/2 in 2022, you may send Way to Grow a gift directly from your IRA, which may also fulfill your Required Minimum Distribution ((if you are 72 or older in 2022). This is a beautiful method of giving that leverages pre-tax dollars to support qualified charities, so it costs you less than cash you’ve already been taxed on. It also taps into dollars already saved up and puts those funds to work now in support of neighbors in need. Individuals can gift up to $100,000 out of their IRAs each year, and these funds bypass the Federal Tax Return, so they are neither taxed as income, nor deducted as a gift.

Way to Grow would be pleased to receive your IRA gift or assist you with other tax-wise ways of giving. Please call us at (612) 874-4740 or check in with your tax advisor. Way to Grow cherishes gifts of all types and sizes. With your great support, we can reach even more families and children whose futures will be brighter because of your generosity. Thank you!