As state legislators and federal congressman are making decisions impacting Medicaid dollars, Exceptional Opportunities and similar programs often face reductions in funding. It is gifts such as those described below that will help ensure that Exceptional Opportunities is here in the future, beyond us, serving people less fortunate. This is a great way to be remembered by leaving something for future generations.
Charitable giving may be achieved in a number of ways. See your attorney and accountant to discuss any of these donation possibilities.
1. Planned / Deferred giving / Bequests - leaving a specified amount in your will to Exceptional Opportunities. This may be specified as a dollar amount, a percentage, or a share of residue after gifts to your heirs.
2. Gift of a life insurance plan - listing Exceptional Opportunities as the owner and beneficiary.
3. Gift of securities- stocks or a brokerage account to Exceptional Opportunities. Consult your tax advisor.
4. The gift of real estate / property - donor maintains "life estate" and the property goes to EOI after the donor's death
5. Gifts of cash are a quick and easy way to show support. Sometimes employers or other associations the donor is affiliated with will match a gift of cash.
6. Gifts of grain Buyers of grain (elevators) can be directed to purchase a portion of a farmer's grain and have the sales proceeds be sent directly to Exceptional Opportunities. The proceeds of this portion of grain sold never show up as income to the grain seller so in that sense is an immediate tax deduction to the grain seller. The grain buyer needs the tax ID number of Exceptional Opportunities to properly record the sale.
7. Gift of Retirement Plans - A donor can name Exceptional Opportunities as the beneficiary to an IRA, Pension, 401k, or other retirement plan. These can be some of the most cost effective gifts that a donor makes because they avoid possible double taxation on retirement plan assets left to heirs. Tax laws are ever-changing, and some years the IRS has made annual provisions to the tax code permitting Qualified Charitable Distributions from your retirement plan to go directly to the charity. Always consult your tax preparer or investment representative.
8. Living trusts - You can provide for yourself and your family before and after your passing. You can arrange a contribution through a living trust by naming Exceptional Opportunities as a beneficiary or heir to the trust.
Again, your tax preparer or attorney should be able to help guide your decisions.