Donating part or all of your unused retirement assets such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan is an excellent way to make a gift.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
To leave your retirement assets to Allentown Symphony Association, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Allentown Symphony Association as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Allentown Symphony Association. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
If you have any questions about gifts of retirement assets, please contact us. We are happy to assist you and answer your questions.
Please let us know if you have already included Allentown Symphony Association as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.