The Kiwanis Club of Melbourne Foundation, Inc is a Non-Profit/Public Benefit Corporation
: Tax ID# 59-3549575. All proceeds go to the community and any donations are tax deductible
How You Can Receive a Tax Deduction and Support the Community…A Win, Win!
In 1999 the Kiwanis Club of Melbourne established itself as a 501c3 non-profit corporation called The Kiwanis Club of Melbourne Kiwanis Foundation, Inc. Our purpose in establishing the Foundation was to allow donors to make tax deductible gifts that are 100% distributed to the Melbourne and surrounding area communities. That’s right, no overhead, no administrative expenses, no fund raising expenses – your entire contribution ends up benefiting Melbourne and its residents.
Donations May Take Many Forms,Here are Five of the Most Popular:1). A Cash Contribution is the simplest, by writing a check or using a credit card. If you itemize your deductions and make a $100 contribution, your actual taxes, if you are at the maximum tax rates, will be reduced by approximately $45.00 and you get that “feel good” feeling by helping out your community.
2). Donate Appreciated Property such as securities and real estate. Generally speaking it works like this: If the donor donated the stock to the Kiwanis Foundation, no tax is due and the donor will get a tax deduction for the full $28,000. That will result in a tax SAVINGS of approximately $12,600 if the donor is in the highest tax rates. The Foundation can then sell the stock, pay no tax and, once again, 100% of your donation will be put right back into your community and there’s that “feel really good” again.
3). A Special Trust is a form of donation set up for particularly large donations, such as a uni-trust or annuity trust. Under this arrangement, generally speaking, the donor gets a significant tax deduction, a stream of income until the donor’s demise, and, in some instances, use of the property until the donor’s demise.Lets say the donor has 1,000 shares of stock that cost $5,000 and is worth $28,000. If the donor sold the stock he would pay taxes at approximately 25% on the difference between the cost and market value. That would be a tax bite of $5,750.
4). A Bequest is a method where the donor specifies certain assets (or an entire estate) is to be bequeathed (given) to a charitable organization, such as the Kiwanis Foundation, upon the donor’s death. While this donation has no effect on the donor’s current taxable income, it is a deduction from the donor’s estate and thus will save taxes.
5). Life Insurance Beneficiary donation can be made by naming the Foundation as the beneficiary of a life insurance policy or of a retirement plan such as a 401(k), IRA, Keogh, annuity, or pension of profit-sharing plan.
The foregoing is a general discussion and should not be construed as tax advice. Please consult with your tax adviser before making any significant charitable contribution.
501(c)(3) organizations exist strictly for “charitable purposes” and are given tax exempt status by the IRS. By contributing to a 501(c)(3) nonprofit organization, you are making a positive difference in your community while taking advantage of a tax deduction for the contribution. There are positive tax implications for gifts you make in your lifetime as well as gifts you make through your estate.
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN THE STATE 800-435-7352. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. WEBSITE WWW.800HELPFLA.COM.
This week's meeting is at a new location! Join us on Thursday, July 25, 2024, at 12:00 noon at Cadillac Cove, 1462 Florida A1A, Satellite Beach, FL 32937. 🏖️
We have a fantastic agenda lined up: - 🌟 Latest Updates on The Space Coast Children's Museum - 🎨 Let’s Play Workshops - Major announcement - 📅 Upcoming Conventions - What’s on the horizon! - 🎉 Our 100th Anniversary Celebration-venue established and more! - 🏆 Announcement of another Scholarship Winner
Your participation is crucial as we continue to drive our mission forward and celebrate our successes. Don’t miss out on the chance to connect with fellow members and contribute to our exciting plans!
The Kiwanis Club of Melbourne Foundation
The Kiwanis Club of Melbourne Foundation, Inc is a Non-Profit/Public Benefit Corporation
:
Tax ID# 59-3549575. All proceeds go to the community and any donations are tax deductible
In 1999 the Kiwanis Club of Melbourne established itself as a 501c3 non-profit corporation called The Kiwanis Club of Melbourne Kiwanis Foundation, Inc. Our purpose in establishing the Foundation was to allow donors to make tax deductible gifts that are 100% distributed to the Melbourne and surrounding area communities. That’s right, no overhead, no administrative expenses, no fund raising expenses – your entire contribution ends up benefiting Melbourne and its residents.
Donations May Take Many Forms,Here are Five of the Most Popular:1). A Cash Contribution is the simplest, by writing a check or using a credit card. If you itemize your deductions and make a $100 contribution, your actual taxes, if you are at the maximum tax rates, will be reduced by approximately $45.00 and you get that “feel good” feeling by helping out your community.
2). Donate Appreciated Property such as securities and real estate. Generally speaking it works like this: If the donor donated the stock to the Kiwanis Foundation, no tax is due and the donor will get a tax deduction for the full $28,000. That will result in a tax SAVINGS of approximately $12,600 if the donor is in the highest tax rates. The Foundation can then sell the stock, pay no tax and, once again, 100% of your donation will be put right back into your community and there’s that “feel really good” again.
3). A Special Trust is a form of donation set up for particularly large donations, such as a uni-trust or annuity trust. Under this arrangement, generally speaking, the donor gets a significant tax deduction, a stream of income until the donor’s demise, and, in some instances, use of the property until the donor’s demise.Lets say the donor has 1,000 shares of stock that cost $5,000 and is worth $28,000. If the donor sold the stock he would pay taxes at approximately 25% on the difference between the cost and market value. That would be a tax bite of $5,750.
5). Life Insurance Beneficiary donation can be made by naming the Foundation as the beneficiary of a life insurance policy or of a retirement plan such as a 401(k), IRA, Keogh, annuity, or pension of profit-sharing plan.
The foregoing is a general discussion and should not be construed as tax advice. Please consult with your tax adviser before making any significant charitable contribution.
501(c)(3) organizations exist strictly for “charitable purposes” and are given tax exempt status by the IRS. By contributing to a 501(c)(3) nonprofit organization, you are making a positive difference in your community while taking advantage of a tax deduction for the contribution. There are positive tax implications for gifts you make in your lifetime as well as gifts you make through your estate.
Contact us for more information
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🌟 Exciting News, Kiwanis Club of Melbourne! 🌟
This week's meeting is at a new location! Join us on Thursday, July 25, 2024, at 12:00 noon at Cadillac Cove, 1462 Florida A1A, Satellite Beach, FL 32937. 🏖️
We have a fantastic agenda lined up:
- 🌟 Latest Updates on The Space Coast Children's Museum
- 🎨 Let’s Play Workshops - Major announcement
- 📅 Upcoming Conventions - What’s on the horizon!
- 🎉 Our 100th Anniversary Celebration-venue established and more!
- 🏆 Announcement of another Scholarship Winner
Your participation is crucial as we continue to drive our mission forward and celebrate our successes. Don’t miss out on the chance to connect with fellow members and contribute to our exciting plans!
Mark your calendars and join us for a productive and inspiring meeting. See you there! 🤝 #KiwanisMelbourne #CommunityImpact #NewLocation #MeetingAnnouncement ... See MoreSee Less
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STEM FUNDAY on July 13th was such a fun event! Thank you all the volunteers for making it happen! Go STEM!#melbournekiwanisrock ... See MoreSee Less
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Good stuff.
Stem workshop Saturday in Viera! Will be fun!STEM FUNDAY is almost upon us! Our engineers, mentors are getting ready for you! ... See MoreSee Less
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