Bequests and Legacy Giving
What is a Bequest?
A bequest is a gift you leave to a person or an organization in your will or trust. It is an act of generosity to show important causes you are passionate about. You can leave bequests to as many people or organizations as you desire. Bequests are generally financial gifts, but can also be a mix of cash and/or property.
Benefits of Legacy Gifts
Including Motif Blue in your family’s will or trust is an important way to ensure the future of innovative and groundbreaking visual arts. Bequests create a long-lasting legacy of support, and there is no cost to you to make this type of contribution.
You will have the satisfaction of knowing that an arts organization that is important to you will continue to receive support from your estate, and you may be able to lower your capital gains and estate taxes through this method of giving.
How to Create a Bequest
Charitable Bequests: Add a provision to your will that clearly expresses your intention to donate a portion of the estate to Motif Blue. You may wish to leave a specific dollar amount, a percentage of the estate, or the residuals of an estate after distributions are made to friends and loved ones.
Gifts of Stock, Investments, or Life Insurance: Many firms where you might have a savings, IRA, 401k, or life insurance plan, allow you to designate a beneficiary on your account. Contact your financial firm to discuss adding Motif Blue as a beneficiary.
Giving Through Your RMD
As you plan your financial strategy for the year, it’s important to consider your Required Minimum Distribution (RMD) from your individual retirement accounts (IRAs). While RMDs are a necessary part of retirement planning, they also increase your taxable income. You can satisfy your RMD, reduce your tax burden, and make a significant impact on a cause you care about by making a Qualified Charitable Distribution (QCD).
Benefits
A QCD allows you to donate directly from your IRA to a qualified nonprofit, like Motif Blue.
- Satisfy Your RMD: Your QCD counts toward your RMD for the year, up to the amount of your gift.
- Reduce Your Taxable Income: The amount you donate via a QCD is excluded from your adjusted gross income (AGI). This is a key advantage over taking the distribution and then donating afterward.
- Direct and Safe Giving: It’s a safe and easy way to give because the transfer is made directly from your IRA custodian to the nonprofit. Your gift goes entirely to the nonprofit, tax-free, allowing you to make a substantial contribution to an organization that matters to you.
How to Give
- Confirm Eligibility: You generally must take withdrawals from traditional IRA, SEP IRA, Simple IRA, and retirement plan accounts when you reach age 73.
- Contact Your Financial Advisor or Institution: Instruct your financial institution to make a direct transfer from your IRA to the Center.
- Provide our Details: Your administrator will need our legal name and address.
Our Legal IRS Name: Motif Blue, Inc.
Our Federal ID: 501(c)(3) ID: 93-4974012
How to send your gift: make check payable to our financial fiduciary Motif Green, PO BOX 2977, Sanford, NC 27330
Contact Our Team
If you have additional questions about Bequests or Legacy Giving, please Contact our Board of Directors.
Motif Blue, Inc. is tax-exempt as a 501(c)(3) organization. Donations you make to us are tax-deductible to the fullest extent of the law. Please consult a tax advisor. Financial information about us and a copy of our license are available from the State Solicitation Licensing Branch at 919-814-5400. The license is not an endorsement by the State.