Support Molly’s Miracles via Venmo @MollysMiracles. Every gift helps us keep her light shining.

If you are 70.5 years of age or older, you can give from your Individual Retirement Account (IRA) without having to pay income taxes on the distribution. This popular gift is known as a Qualified Charitable Distribution (QCD), and is a great, tax-smart way for IRA owners to make an impact for 501(c)(3) organizations. Please consider directing all or part of your annual QCD to Molly’s Miracles.

Among the benefits:

The transfer of funds counts toward your annual Required Minimum Distribution (RMD) if you are 73 years old or older.
You can avoid paying income taxes on the distribution.
You gain the satisfaction of seeing your gift immediately provide aid to those in need of a miracle, no matter how large or small.

How it Works:

• You must be 70.5 years of age or older when you make your gift.
• QCD’s must come directly from an IRA account administrator to Molly’s Miracles. Funds distributed to you personally and later given to Molly’s Miracles do NOT qualify. Gifts from a 401k, 403(b), Simplified Employee Pension (SEP) and other plans also do not qualify.

Please Note: The distribution will not increase your taxable income, but will also not generate a charitable deduction for income tax purposes. (Therefore, it will not be included on your annual tax receipt from us.)

QCD’s may now include one-time distributions to create life income plans, specifically, charitable gift annuities (CGA’s).This new type of QCD is a one-time maximum transfer, and additional rules may apply. For more information, please contact your financial advisor, tax consultant, or IRA Administrator.

For your convenience, we have provided an IRA Plan Provider Letter Template with Molly’s Miracles account information that you can send to your IRA Administrator if you wish. After we receive your gift, we will send you an acknowledgment letter you may also use for your records.

What is a Donor Advised Fund?

A Donor Advised Fund (DAF) is a charitable funding platform that affords you a tax deduction now, as well as tax-free growth for future giving. These funds are set up for the sole purpose of supporting charities. Once you have created and funded a DAF through the financial institution of your choice, you can designate Molly’s Miracles to receive gifts from your DAF at any time. While Molly’s Miracles does not administer Donor Advised Funds, we are a 501(c)(3) and fully qualified to receive gifts from Donor Advised Funds. Assets generally accepted include cash, stock, mutual fund shares, and many types of non-cash assets. You receive a tax deduction at the time you make your contribution. Donor-advised funds are the fastest-growing charitable giving vehicle because they are the easiest, and one of the most tax-beneficial way to give to charities like Molly’s Miracles.

How does a donor-advised fund work?

First, create a DAF through the financial institution of your choice. Next, make an irrevocable, tax-deductible contribution of cash, stock, or another asset to a community foundation or a financial institution such as Vanguard, Fidelity, or Schwab, at which time you will receive a tax receipt and tax benefits. That organization will oversee those funds as they grow, tax free, potentially providing you with even more dollars to grant to the charity. The funds, or assets, now legally belong to the sponsoring organization, but you as the account holder maintain advisory privileges over disbursements made. Once the financial institution or community foundation approves, your gift is made to the charitable organization of your choice, such as Molly’s Miracles.

Donor Advised Funds allow you to consolidate all of your charitable giving and simplify record-keeping; create a legacy by making a bequest in your will to the DAF sponsor or even making the sponsor a beneficiary of a retirement plan; carry out your charitable giving in a strategic way, over time; and even pass the remaining funds in your account to your heirs or your favorite charities at the time of death.

For assistance with planning a gift that will benefit Molly’s Miracles now or in
the future, please contact us at mollysmiracles.org or mollysmiracles@gmail.com. Thank you.

Important: If you wish to be acknowledged for your kind gift through your DAF, please be sure to include identifying information so that we can properly apply your gift and thank you.

Disclaimer: Molly’s Miracles does not provide tax, legal or financial advice.
The information on this site is for informational purposes only. Please consult your financial advisor before engaging in any transaction.

Your company’s matching gift program allows you to direct your company’s charitable dollars to the cause(s) nearest and dearest to your heart, greatly increasing your donation’s value to Molly’s Miracles. An investment of just a few minutes can double your gift.

Please check with your Human Resources department to see if they match gifts.

HOW MATCHING GIFTS WORK

Many matching gift companies require that participants provide the Federal Tax
ID number of the recipient organization when applying for a match. The Tax ID/EIN for Molly’s Miracles is 33-4856957.

Eligible supporters for a corporate matching gift may include:

• Full-time or part-time employees
• Retired employees
• Spouse of employee

WHAT IS A MATCHING GIFT?

Employee matching gift programs are corporate giving programs.

Perhaps you want to donate $100 to Molly‘s Miracles. Your employer may have a matching gift policy. This is often matched at a 1:1 ratio. After you submit your matching gift form, your employer then essentially doubles your donation by also donating an equal contribution, in this example, a matching $100 gift. Gifts from part-time workers and retirees may also qualify for a match. It’s a thoughtful and effective way to double your contribution. Inquire with your employer.

HOW DO I REQUEST A MATCHING GIFT?

• Make a donation and save your tax receipt. Many matching programs will allow for up to one year after you’ve made your donation to request a corporate match.
• Contact your HR department directly to ask it they offer a matching gift program, along with procedures to match your contribution to Molly’s Miracles. They will assist you, but typically there are two common ways to submit the matching gift request:
• Click on your company’s intranet link provided in the search results. Log-in and submit your request electronically.
• Download your company’s matching gift verification form using the link provided in the search results. Print it, fill it out and send it to:

• We’ll take care of the rest with your employer.

WHAT IF I STILL HAVE QUESTIONS?

For questions regarding your company’s program policies, please contact your immediate manager, or employer’s HR department. Much of the necessary information is also usually available on your company intranet.