The Foundation encourages friends of the Army Heritage and Education Center and the Foundation to consider a planned gift. These gifts can have immediate impact should you give to a specific program; or, if you would like, your gift can continue to grow over time and provide a constant, reliable source of income through an endowment. Both methods facilitate the programs of the Army Heritage and Education Center and its supporting Foundation. When making your planned charitable gifts, you can specify how you would like your gift to be used.
If you have any questions or would like to discuss your gift plans, please call our offices at 717-258-1102.
Use your IRA to help others! Under the reinstated charitable IRA legislation; individuals 70½ or older can make gifts using funds transferred directly from IRAs—without reporting the gain as taxable income. If you are 70½ or older, we hope you would consider taking advantage of this program that lets you witness the benefits of your generosity. But do not wait too long. This opportunity provided by the IRS ends December 31, 2009.
Benefits to you of transferring funds from an IRA:
- The gift generates no taxable income, so even those who do not itemize their tax returns receive the benefit.
- You may transfer up to $100,000 directly from your IRA in 2009.
- The distributions may be in addition to or fulfill any charitable giving you have already planned.
Note: You can make a gift from your IRA even if you do not have to take a required minimum distribution in 2009.
How It Works: As an example, John, 75, has $450,000 in an IRA and has pledged to give the Army Heritage Center Foundation $75,000 this year. If John makes a direct transfer of $75,000 from his IRA, he will avoid paying income tax on $75,000. He cannot, however, claim a charitable deduction but has found an easy way to help others.
If you would like to take advantage of this limited-time opportunity, be sure to consult your financial advisors to ensure that the plan is right for you. Please also feel free to contact the Foundation Development Office with any questions if you are considering this type of gift.
Bequests. If you want to provide a gift to support the Army Heritage and Education Center in your Will, upon your death, you may make a bequest to the Army Heritage Center Foundation. The Foundation recommends that you indicate if you desire your bequest to support the Foundation, one of its specific programs, or a specific program or activities of the Army Heritage and Education Center.
- Acceptable legal phrasing for making a bequest to the Army Heritage Center Foundation is: “I give, devise and bequeath to the Army Heritage Center Foundation, Carlisle, PA., [the sum of X dollars, X percent of my residuary estate or (description of assets)] to become part of the [description of its use]."
Should you wish to restrict your gift to support a specific approved activity within the Foundation or the Army Heritage and Education Center, you can, for example, state in your Will that:
- “I bequeath X percent of my residuary estate to the Army Heritage Center Foundation to support the Foundation’s educational programs.” Or,
- “I bequeath $XXX.XX to the Army Heritage Center Foundation to support the acquisition of manuscript collections to support research at the Army Heritage and Education Center.”