A donor-advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities, or other assets to a donor-advised fund at a public charity (i.e., Manistee County Community Foundation, Fidelity Charitable, Schwab Charitable, for example), you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth and you can recommend grants to virtually any IRS-qualified public charity.
When you give, you want your charitable donations to be as effective as possible. Donor-advised funds are the fastest-growing charitable giving vehicle in the United States because they are one of the easiest and most tax-advantageous ways to give to charity. Let’s take an in-depth look at how a donor-advised fund works.
Charitable IRA Rollover
Are you 70 ½ years of age or older? Please consider taking advantage of an opportunity to reduce your taxable income while supporting the RRCA with a Charitable IRA Rollover.
The Qualified Charitable Distribution (QCD) from an IRA allows donors 70 ½ years or older to make gifts directly to the RRCA and not include the amount gifted as taxable income. A Charitable IRA Rollover can satisfy some or all of your annual Required Minimum Distribution, and reducing your taxable income could provide a variety of tax savings opportunities. The maximum annual amount that can qualify for a QCD is $100,000. If you qualify, please consider using these funds to support RRCA’s historic venue and its high-quality programming that impacts thousands of Manistee County residents.
Please speak to your advisors about how to make this part of your long-term charitable donation.
The Ramsdell Regional Center for the Arts maintains an endowment at the Manistee County Community Foundation.
The Ramsdell Theatre Preservation Fund was established to accept gifts that sustain the maintenance and restoration required for a historic building such as the Ramsdell. You can ensure that your tradition of support continues in the future through a Bequest, a Charitable Annuity, or a gift of Life Insurance. Your participation will set an important example for others, and awareness of your intentions will help us in our long-range planning. By remembering the RRCA in your will or beneficiary arrangements, you create a long-term plan for maintaining one of Manistee’s crowned jewels.