Estate Giving | The Madison Parks Foundation
Gift & Estate Planning
Planned gifts support our ongoing work to promote, enhance and protect Madison parks forever.
As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your retirement plan or life insurance policy. You can take advantage of these gift opportunities in the following ways:
Retirement Plan Assets
Retirement Plan Assets are a great way to support the work of the Madison Parks Foundation because they not only help support the mission, but they also can provide tax relief for your loved ones.
Money in an employee retirement plan, IRA or tax-sheltered annuity has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax.
Name MPF a Beneficiary of your Plan
You can designate the Madison Parks Foundation as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you. Please check with your plan administrator to make these designations.
With the IRA Charitable Rollover
If you are 70.5 years old or older, you can take advantage of a simple way to help Madison Parks and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as Madison Parks Foundation without having to pay income taxes on the money.
You can designate the Madison Parks Foundation in your will or living trust for a specific amount of cash, a percentage of your estate, or designated other assets. You may be able to take an estate tax deduction worth 100% of your gift's value.
When making your beneficiary designation, use the following legal name:
Madison Parks Foundation, Inc., Tax ID: 33-1047992