Giving by Assets – Cash

PLANNED & MAJOR GIFTS

CASH

The most popular ways to give this asset:

Outright gift of cash

One of the easiest and most common ways for you to support the Meals on Wheels Foundation of Western New York is with a gift of cash. Cash can be used to support our mission in the form of:

Payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.

Bequest in your will or living trust. Through a gift in your will or living trust, you can support the Meals on Wheels Foundation with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time and your estate will benefit from a federal estate tax charitable deduction for the amount of the gift.

Charitable lead trust. You may always use cash to fund a lead trust. Oftentimes, lead trusts are funded with cash in addition to stock or real estate.

Endowed gift. Create an endowment to ensure that your support of the Meals on Wheels Foundation of Western New York will last forever.

Donor advised fund

Are you looking for an easy, cost-effective way to support Meals on Wheels and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.

Transfer cash or other assets and can then recommend how much and how often money is granted to the Meals on Wheels Foundation of Western New York (or any other charitable organization).

You, as the donor, benefit by receiving a federal income tax charitable deduction at the time you contribute to the account and have the ability to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location and you can start a legacy of giving by letting your children or heirs help decide which grants to recommend.

 

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