If you are 70 1/2 or older, avoid taxes on transfers of up to $100,000 from your IRA

IRA Charitable Rollover

You may be looking for a way to make a big difference to help further Scouting’s mission. If you are 701/2 or older, an IRA charitable rollover is a way you can help continue Scouting’s work and benefit this year.

Benefits of an IRA Charitable Rollover

Also known as a Qualified Charitable Distribution
  • Avoid taxes on transfers of up to $100,000 from your IRA to the Twin Valley Council.
  • Satisfy your required minimum distribution (RMD) for the year.
  • Reduce your taxable income, even if you do not itemize deductions.
  • Make a gift that is not subject to the deduction limits on charitable gifts.
  • Help further the work and mission of our organization.

How an IRA Charitable Rollover Gift Works

  • Contact your IRA plan administrator to make a qualified charitable distribution from your IRA to the Twin Valley Council Inc. Boy Scouts of America.  Our address is 810 Madison Avenue, Mankato, MN  56001
  • Your IRA funds will be directly transferred to our organization to help continue our important work.
  • Please note that IRA qualified charitable rollover gifts do not qualify for a charitable deduction.
  • Please contact us at 507-387-3123 or info@twinvalleybsa.org if you wish for your gift to be used for a specific purpose.

Gifts of Stocks and Bonds

Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to the Twin Valley Council Inc., Boy Scouts of America.  There are special rules for valuing a gift of stock.  Please work with your tax advisor to understand how to value your gift.

Benefits of Gifts of Stocks and Bonds

  • Avoid paying capital gains tax on the sale of long term appreciated stock.
  • Receive a charitable income tax deduction for the full fair mairket value of the gift.
  • Further Scouting’s mission today

How to Make a Gift of Stocks and Bonds

  • Electronic Transfer – You can transfer stock or bonds from your brokerage or investment account to Twin Valley Council Inc. Boy Scouts of America directly into our Twin Valley Council Inc. Brokerage Account at Edward Jones into account #577-26528-1-3 at the following address:
    • Edward Jones C/O Kenny Klooster   201 North Riverfront Drive Suite 225   Mankato, MN  56001

Gift of Real Estate

Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to Twin Valley Council Inc., Boy Scouts of America.

How to Make a Gift of Real Estate

Please contact us at 507-387-3123 to discuss your gift.  We have specialists who can help make your gift a reality.  Please note that the value of your charitable gift will generally be based on the property’s fair market value, which must be established by an independent appraisal.

Benefits of Gifts of Real Estate

  • Avoid paying capital gains tax on the sale of the real estate
  • Receive a charitable tax deduction on the value of the gift
  • Leave a lasting legacy to Twin Valley Council Inc., Boy Scouts of America

Gifts of Retirement Assests

401

Donating part or all of y our unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to Twin Valley Council Inc., Boy Scouts of America.

You can make a gift of your unused retirement assets through a beneficiary designation to help further Scouting’s mission.

Benefits of Gifts of Retirement Assets

  • Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
  • Receive potential estate tax savings from an estate tax deduction
HOW TO MAKE A GIFT OF RETIREMENT ASSETS

To leave your retirement assets to Twin Valley Council Inc., Boy Scouts of America, complete a beneficiary designation form provided by your retirement plan custodian. If you designate Twin Valley Council Inc., Boy Scouts of America 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. Please be sure to include our EIN# in the beneficiary designation: 41-6079300.

MORE ON GIFTS OF RETIREMENT ASSETS

As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.

Gift of Cash

Gifts of Cash
A donation of cash is a simple and easy way for you to make a gift.
Benefits of Gifts of Cash
  • You can make an immediate impact on Scouting’s mission
  • You possibly will be able to take a charitable income tax deduction

How to Make a Gift of Cash

Mailing a gift of cash/check – you can send us a check, or money order.  Please let us know if you want your gift used for a specific purpose by indicating that purpose either in the memo line or in a letter to us.  Our address is 810 Madison Avenue, Mankato, MN  56001

Gift of Insurance

A gift of your life insurance policy is an excellent way to make a gift to Twin Valley Council Inc. Boy Scouts of America.  If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Twin Valley Council.  For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

How to Make a Gift of Life Insurance

To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from them and include Twin Valley Council, Inc., Boy Scouts of American as the beneficiary of your policy.

Benefits of Gifts of Life Insurance

  • Receive a charitable income tax deduction
  • If Twin Valley Council retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums.
  • If Twin Valley Council cashes in the policy, you will be able to see firsthand your gift support our charitable work
  • If we retain the policy to maturity, or you name us as beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further Scouting’s charitable work

Bequests

A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to Twin Valley Council Inc., Boy Scouts of America that will make a lasting impact.

  • Receive an estate tax charitable deduction
  • Reduce the burden of taxes on your family
  • Leave a lasting legacy to charity
How a Bequest Works

A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Twin Valley Council Inc., Boy Scouts of America as part of your estate plan, or you can make a bequest using a beneficiary designation form.

HERE ARE SOME OF THE WAYS TO LEAVE A BEQUEST TO TWIN VALLEY COUNCIL INC., BOY SCOUTS OF AMERICA

  • Include a bequest to Twin Valley Council Inc., Boy Scouts of America in your will or revocable trust
  • Designate Twin Valley Council Inc. Boy Scouts of America as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
  • Name Twin Valley Council Inc. Boy Scouts of America as a beneficiary of your life insurance policy.

Twin Valley Council Inc., Boy Scouts of America’s Bequest Language

An excellent way for you to support Twin Valley Council Inc., Boy Scouts of America’s mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

TYPES OF BEQUESTS
There are a number of ways you can make a bequest to Twin Valley Council Inc., Boy Scouts of America.

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Twin Valley Council Inc., Boy Scouts of America.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Twin Valley Council Inc., Boy Scouts of America.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Twin Valley Council, Inc., Boy Scouts of America.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Twin Valley Council, Inc., Boy Scouts of America.


BEQUEST BENEFITS
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

BEQUEST LANGUAGE

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Twin Valley Council Inc., Boy Scouts of America in your estate plan. We have provided some basic bequest language to assist you and your attorney.

  1. Specific Bequest
    If you are considering making an outright bequest to Twin Valley Council Inc., Boy Scouts of America, we recommend the following language:
    Bequest of a Specific Dollar Amount
    I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Twin Valley Council, Inc, Boy Scouts of America, a nonprofit organization located at 810 Madison Avenue, Mankato, MN 56001, Federal Tax ID #41-6079300, for Twin Valley Council Inc., Boy Scouts of America’s general use and purpose.
  1. Percentage Bequest
    If you are considering making a bequest of a percentage of your estate to Twin Valley Council Inc., Boy Scouts of America, we recommend the following language:
    I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Twin Valley Council Inc., Boy Scouts of America, a nonprofit organization located at 810 Madison Avenue, Mankato, MN 56001, Federal Tax ID #41-6079300, for Twin Valley Council, Inc. Boy Scouts of America’s general use and purpose.
  1. Residual Bequest
    I hereby give, devise and bequeath to Twin Valley Council Inc., Boy Scouts of America, a nonprofit organization located at 810 Madison Avenue, Mankato, MN 56001, Federal Tax ID # 41-6079300, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Twin Valley Council, Inc. Boy Scouts of America’s general use and purpose.
  1. Contingent Bequest
    If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Twin Valley Council, Boy Scouts of America, a nonprofit organization located at 810 Madison Avenue, Mankato, MN 56001, Federal Tax ID # 41-6079300, DESCRIPTION OF PROPERTY to be used for Twin Valley Council, Inc, Boy Scouts of America’s general use and purpose.

RESTRICTED BEQUESTS
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Twin Valley Council, Inc., Boy Scouts of America flexibility should it no longer be possible for our Twin Valley Council, Inc., Boy Scouts of America to use your gift as you originally intended:

If, in the judgment of the Board of Directors of Twin Valley Council, Inc, Boy Scouts of America, it shall become impossible for Twin Valley Council, Inc, Boy Scouts of America to use this bequest to accomplish the specific purposes of this bequest, Twin Valley Council, Inc., Boy Scouts of America may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.