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Charitable Beneficiary Designation

Choosing community over taxes

Naming the Del Mar Foundation as a beneficiary of your retirement plan is not only easy to do, it is also a way to make a significant and lasting gift to our community that may not be possible during your lifetime.

How it works

• You designate the Del Mar Foundation as a full or partial beneficiary of your qualified retirement plan using a form supplied by the policyunderwriter or plan administrator.

• When you are no longer living, the benefit comes to the Del Mar Foundation. Your gift is recognized in the Legacy Society in your name, in the name of your family, or in honor of any person or organization you choose.

• We handle all the administrative details.

• Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift is a permanent source of community capital, helping to do good work forever.


IRA Charitable Rollover

Through 2009, people age 70½ and older can transfer up to $100,000 of IRA assets to public charities including the Del Mar Foundation, without triggering federal income taxes today or estate tax in the future. If married, each spouse is eligible for the tax-free IRA transfer.   Contact us at: info@delmarfoundation.org or 858-633-1366 to discuss this opportunity before it expires.


More benefits

If you are concerned with potentially high estate taxes, the charitable beneficiary designation is a good choice because the benefit payment is generally excluded from your estate for tax purposes. And, because you may change the beneficiary designation at any time, your decision is revocable.

One of the most tax-efficient ways to give back to your community is by designating the Del Mar Foundation as a beneficiary of your retirement plan, whether it is a 401(k), 403(b), IRA (individual retirement account), or other qualified retirement program. These assets could be taxed at rates as high as 70 percent upon your death. Estate taxes may be due in addition to the taxes your heirs may pay on the income in respect of the decedent (IRD). For these reasons, many advisors recommend retirement plan assets as the first to be designated for charitable purposes.

Although your retirement plan beneficiary form overrides your will, it is important that both documents are up-to-date and consistent.

A safe way to make a big impact

Fran and Mark Greene care deeply about their family and Del Mar. So, they turned to their professional advisor for guidance in fulfilling their desires to ensure that their children are taken care of and a charitable legacy is left to their community. When they learned that retirement assets are often subject to two taxes (income and estate tax) that could reduce the value of those assets by up to 70% if left to their children, they quickly determined that these assets would be best designated for charity. By naming the Del Mar Foundation as a beneficiary of the retirement assets, they would be assured that their gift would be paid directly to the foundation and would not be subject to income or estate taxes. They also knew that every dollar (rather than only a small percentage) would be preserved for the community they love. “It made sense to our family to handle our retirement assets in this manner. It is an easy and gratifying way to leave a legacy to our community,”
says Fran.

This is a donor scenario, a realistic composite of giving stories. It is not an actual Del Mar donor story.


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