Retirement Plan Assets
Pass It On
Retirement plan assets are a great way to support the work at ThedaCare Family of Foundations because they not only help support the mission, but they also can provide tax relief for your loved ones.
Money in an employee retirement plan, IRA or tax-sheltered annuity has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax.
Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to ThedaCare Family of Foundations to support our work. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. You can take advantage of this gift opportunity in the following ways:
Name us a beneficiary of your plan. This requires you to update your beneficiary designation form through your plan administrator. Here you can designate ThedaCare Family of Foundations as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.
With the IRA charitable rollover, if you are 70½ years old or older, you can take advantage of a simple way to help those we serve and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ThedaCare Family of Foundations without having to pay income taxes on the money.
Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support ThedaCare Family of Foundations. This gift provides excellent tax and income benefits for you while supporting your family and our work.
A donor advised fund. When retirement plan assets pass to your heirs, distributions are taxed as ordinary income. This income tax burden can be substantial, greatly reducing the value of the intended gift. Instead, you can designate your donor advised fund as the beneficiary of all or a portion of your retirement plan assets. Your fund receives the full amount of the gift and bypasses any federal taxes.
- Contact Shane Kohl at (920) 454-1252 or Shane.Kohl@thedacare.org for additional information.
- Seek the advice of your financial or legal advisor.
- If you include ThedaCare in your plans, please use our legal name and federal tax ID.
Legal Name: ThedaCare Family of Foundations
Address: 1818 N. Meade St., Appleton, WI 54911
Federal Tax ID Number: 46-4112255
Plan a Charitable Gift Today
Take advantage of this tax-smart gift opportunity. Download our FREE guide Make the Most of Your Retirement Plan Assets: Avoid Taxation and Support Our Work.View My Guide