Leave a Legacy Gift to Bless Others

Legacy Giving is a great way to bless others with your retirement plan assets. It’s a sure way to ensure that your assets will be used to further Fairhaven Rescue Mission’s ministry of healing and genuine life transformation. It’s a way to help us share the Love, Truth, and Hope of Jesus Christ for years to come.

Consider leaving your loved ones less heavily-taxed assets and leaving your retirement plan assets to Fairhaven Rescue Mission to help us serve out struggling neighbors. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan.

Use a charitable gift annuity (CGA) or charitable remainder trusty (CRT) to stretch payments from retirement plan assets. Retirement plan assets must be distributed to most non-spousal beneficiaries within 10 years. If you would like your beneficiaries to receive distributions over a lifetime and support the Mission, a testamentary CGA or CRT may be a solution. The income beneficiaries can receive lifetime payments. The remainder will support the Mission.

Ways to Donate Your Retirement Account

1 – List Fairhaven Rescue Mission as a beneficiary of your account

The simplest way to leave the balance of a retirement account to Fairhaven Rescue Mission after your lifetime is to list Fairhaven Rescue Mission as the beneficiary on the form provided by your plan administrator. If you are married, your spouse must sign a written waiver.

2 – Give from your IRA

If you are 70½ or older, you can give any amount up to $100,000 from your IRA directly to a qualified charity such as Fairhaven Rescue Mission without having to pay income taxes on the money. Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution.

3 – Make Fairhaven Rescue Mission a contingent beneficiary

If you prefer to make your spouse the primary beneficiary of your retirement account, you can name Fairhaven Rescue Mission as the contingent beneficiary. Want your children to benefit, too? Designate a percentage for Fairhaven Rescue Mission with the remainder for your children.

4 – Give from your IRA and receive income in return

If you are 70½ or older, you can make a one-time election of up to $53,000 (without being taxed on the distribution) from your IRA to fund a charitable gift annuity—the gift that pays you. Special rules apply, so contact us for more details and a personalized illustration at no obligation.