MCKINLEY: A LEGACY OF HOPE AND HEALING SINCE 1900
Since our founding, McKinley has provided services to children who are survivors of abusive environments, often related to drug and/or alcohol abuse, abandonment, and physical and psychological difficulties. Many children arrive at McKinley depressed, sad, angry, and dealing with incredible traumas. At McKinley, they have the opportunity to grow and thrive in a nurturing, empowering environment.
McKinley is dedicated to empowering children, youth, and families through trauma-informed care and specialized support services. By creating safe, nurturing environments, McKinley fosters healing, resilience, and brighter futures.
WHAT MCKINLEY DOES
McKinley’s holistic approach transforms lives, making them a beacon of hope in the community. Explore how you can support their life-changing mission.
CONSIDER THESE QUESTIONS
- Did you know that you may be able to increase your retirement income by planning a gift to McKinley?
- Did you know you could consolidate all your regular donations for the next 5 years and take the entire tax deduction this year?
- Did you know that you may be able to increase your retirement income by planning a gift to McKinley?
- If you own real estate, you probably know you will have to pay nearly 25% tax when selling the property. Would you like to hear about how you can avoid that 25% tax by committing to a 10% gift at the end of your lifetime?
- Did you know that you can give your Required Minimum Distributions (RMDs) directly to McKinley and avoid the income tax?
- Are you aware that key financial tools (ie. 401(k), IRA, Life Insurance, etc) are critical to your safeguarding your future? And they can be excellent tools to use in your charitable giving too?
- Would you like to learn how to pass on your philanthropic passion to your children and grandchildren?
beldr@mckinleycc.org. Ryan will be happy to connect you with a team member that can discuss your needs.
CHARITABLE PLANNING
For an overview on charitable planning, take a minute to watch the presentation below.
INCREASE INCOME WHILE GIVING!
Sam and Mary were age 55 when they purchased some development land outside of town. They thought it would be a good investment that they could later sell for a higher price.
Over the years, the development from the town has moved toward the property and their land is now next to a large commercial store. They now rent the property to the commercial store and it is used for overflow parking.
They decided it would be nice if they could sell without paying a large tax. Their tax advisor has told them that if they were to sell, there would be a large capital gains tax. They also felt they could use some tax deductions this year.
The good news is that Sam and Mary can use a special trust to receive three very nice benefits. The benefits are:
- Bypass capital gain
- Increase income
- Charitable deduction
Sam: We are delighted with our special trust. The trust has a name and is called a unitrust. With our unitrust, we saved about $36,000 in capital gains tax and almost $18,000 in income taxes. That is over $54,000 in tax savings!
Mary: Plus, we increased our income. The land was producing almost no income before. Now, we receive over $12,000 in income each year. This increased income is one of my favorite parts of the plans.
Ultimately, of course, the remainder will go to their favorite charities, and that feels good, too.
BENEFITS OF PLANNING YOUR GIFT
Do you consider yourself a generous person? No matter how much you give to charity, you are almost certainly more generous than you realize. The fact is, you’ve been making gifts to society your entire working life, in the form of taxes.
You see, every dollar you earn, grow or save is part personal capital; money you are free to enjoy. And it is also part social capital; money that will benefit society.
By default, your social capital gets collected through taxes and is spent by the government for the benefit of everyone. But you can take control of how some of that social capital is used; if you are willing to take the time to plan your charitable giving.
By planning and committing to your gift, you are allowed to redirect some of the money that you would have paid in tax, to the charities of your choice. What that means to you is the causes that are most important to you can now benefit specifically from money that you were previously giving to society, in the form of taxes.
It’s good for charity, but it can also be good for you. Often the process of planning your gifts will have multiple benefits. These are benefits that can actually increase your lifetime financial stability and success. But you must take the time to properly structure your personal and social capital.
We invite you to contact our office to see how planning your gift may help your unique circumstance. As you learn more about the opportunity to control your social capital, we think you’ll quickly discover that the rewards make it well worth the effort
Our families are planning for their futures…are you planning for yours?
REQUEST MORE INFORMATION TODAY
Thank you for your interest in becoming a Legacy Ambassador with McKinley. We’d be happy to talk further with you regarding any topics that are of interest. Please reach out today.