Other Ways To Donate

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Gifts of Stocks and Bonds:

Donating appreciated securities, including stocks or bonds, is an easy and tax-efficient way for you to make a gift to Puget Sound Honor Flight. 

When you donate appreciated securities or mutual funds you have held more than one year to Puget Sound Honor Flight, you are entitled to a federal income tax charitable deduction based on the total fair market value of the securities at the time of the transfer allowing both the charity and giver to eliminate capital gains taxes on the total gifted amount. This is often the most tax efficient way to donate.

Benefits of gifts of stocks and bonds:

• Avoid paying capital gains tax on the sale of appreciated stock.
• Receive a charitable income tax deduction.
• Further our mission today.

How to make a gift of stocks and bonds:

• Direct / Donation: When you directly donate securities to Puget Sound Honor Flight you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the asset growth. 

• A transfer on death (TOD) account: By placing a TOD designation on your brokerage or investment account, that account will be paid over to the designated persons or charities after your lifetime.   

A donor advised fund (DAF) is a charitable giving vehicle sponsored by a public charity, in which individuals can place charitable contributions for later distribution to IRS-qualified charities. These distributions are made via a grant which may be made over time although donors receive an immediate tax benefit in the year in which the contribution to the DAF was made. Puget Sound Honor Flight is one such IRS-qualified charity.

Donor contributions, are placed into a donor advised fund account managed by the donor where they can be invested and grow tax free until they are gifted to a qualified charity. These contributions to a DAF are irrevocable but enjoy the benefits of immediate charitable deduction in the year donated. The donor, person or entity that the donor appoints, may recommend grants from the account to any qualified public charity, in this case Puget Sound Honor Flight. 

If you are like most people, you probably will not use all of your retirement assets during your lifetime.

Donating part or all of your unused retirement assets, such as your Individual Retirement Account IRA is an excellent way to make a gift to Puget Sound Honor Flight.

Benefits of gifts of retirement assets (IRA):

• Your gift can satisfy all or part of your required minimum distribution for the year if you are over age 72.
• Avoid potential estate tax on 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.

Key facts:

• You must be 70½ or older to gift from an Individual Retirement Account (IRA) to a 501c3. 
• The gift must be transferred directly from your IRA or pension administrator to Puget Sound Honor Flight. 
• The amount of the gift can be up to $100,000 each year. 
• The gift is not reported as taxable income.  

Information for IRA Distribution Designation is as follows:

Puget Sound Honor Flight, P.O. Box 434, Grapeview, WA 98546.

Federal Tax ID # 46-2369397

Designating Puget Sound Honor Flight as a Beneficiary of IRA, 401(k) or 403(b):

To leave retirement assets to Puget Sound Honor Flight as beneficiary, you must complete a beneficiary designation form provided by your retirement plan custodian. By designating Puget Sound Honor Flight (PSHF) as a beneficiary, your estate will benefit from an estate tax charitable deduction for the full gift amount. PSHF will benefit from the full value of your gift because your IRA assets will not be taxed upon death. 

Information for Beneficiary Designation is as follows:

Puget Sound Honor Flight, P.O. Box 434, Grapeview, WA 98546.

 Federal Tax ID # 46-2369397

There are a number of ways you can make a bequest to Puget Sound Honor Flight in your will:

Specific Bequest. A specific bequest involves making a gift of stocks, bonds or mutual funds or a specific monetary donation from your estate. For example, you may wish to leave 100 shares of Microsoft stock, or a cash donation of $1000.

Percentage Bequest. This bequest involves leaving a specific percentage of your overall Estate, stock or monies in a charitable foundation to Puget Sound Honor Flight.

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.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met.

Sample Language for your Will:

 I hereby give [percentage, residuary share or specific amount or specific asset] to Puget Sound Honor Flight, P.O. Box 434, Grapeview, WA 98546. 

Federal Tax ID # 46-2369397

 A gift of your life insurance policy is an excellent way to make a gift to Puget Sound Honor Flight (PSHF). 

Perhaps you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Puget Sound Honor Flight. (For example, you may have purchased a policy to provide for minor children and they are now financially independent adults)

Benefits of gifts of life insurance:

• Receive a charitable income tax deduction. 
• If PSHF cashes in the policy upon receipt, you will be able to see firsthand how your gift supports our work. 
• If we retain the policy to maturity, or you name PSHF as a beneficiary, once the policy matures, the proceeds of your policy will be paid directly to PSHF.  
• If PSHF retains the policy to maturity, you can receive additional annual tax deductions by making annual gifts to cover the cost of ongoing premiums. 

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 the insurer and include Puget Sound Honor Flight as the beneficiary of your policy:

Puget Sound Honor Flight, P.O. Box 434, Grapeview, WA 98546. 

Federal Tax ID # 46-2369397

Memorial and Tribute Gifts Honoring Loved Ones

Make a donation in memory, or in honor of a person. 

These gifts provide an opportunity to remember or pay tribute to family and friends. 

These gifts as a way to remember special people in your life by helping Puget Sound Honor Flight continue honoring Western Washington Veterans. 

Make a donation today.