other ways to support friends of korea
Make a gift from your IRA
If you are over the age of 70 1/2 and have an IRA account, then a gift from your account may provide the most significant tax savings of any charitable contribution. While you are eligible to make this gift starting at 70 ½, when you turn 73 you must take a Required Minimum Distribution (RMD) from your IRA, and a Qualified Charitable Distribution (QCD) will count towards that RMD. If you have questions about making a distribution, contact your plan administrator.
Friends of Korea tax ID # : 30-0087903
If you are over the age of 70 1/2 and have an IRA account, then a gift from your account may provide the most significant tax savings of any charitable contribution. While you are eligible to make this gift starting at 70 ½, when you turn 73 you must take a Required Minimum Distribution (RMD) from your IRA, and a Qualified Charitable Distribution (QCD) will count towards that RMD. If you have questions about making a distribution, contact your plan administrator.
Friends of Korea tax ID # : 30-0087903
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Make a gift from your Donor Advised Find (DAF)
A donor-advised fund (DAF) is a type of giving vehicle administered by a third party that allows you to combine the most favorable tax benefits with the flexibility to support your favorite charities. An increasingly popular charitable vehicle, DAFs are an excellent way to simplify your charitable giving and facilitate your strategic philanthropic goals.
Main advantages of a donor-advised fund:
A donor-advised fund (DAF) is a type of giving vehicle administered by a third party that allows you to combine the most favorable tax benefits with the flexibility to support your favorite charities. An increasingly popular charitable vehicle, DAFs are an excellent way to simplify your charitable giving and facilitate your strategic philanthropic goals.
Main advantages of a donor-advised fund:
- Simplicity: The DAF sponsor handles all record keeping, disbursements, and tax receipts.
- Flexibility: Timing of your tax deduction can be separate from your charitable decision making.
- Tax efficiency: Contributions are tax-deductible, and any investment growth in the DAF is tax-free. It is also easy to donate long-term appreciated securities, eliminating capital gains taxes and allowing you to support several charities from one block of stock.
- Family legacy: A DAF is a powerful way to build or continue a tradition of family philanthropy.
- No start-up costs: There is no cost to establish a donor-advised fund. However, there are often minimum initial charitable contributions to establish the DAF (typically $5,000 or more).
- Privacy, if desired: Donors may choose to remain anonymous to the grant recipient.
