Qualified Charitable Distribution

If you are 70 ½ years or older and have a traditional IRA, you are eligible to make a tax-free donation directly from your IRA to the American Osteopathic Foundation called a Qualified Charitable Distribution (QCD). These gifts are tax-free and can be a smarter way to support AOF this year.

For those aged 72 and older, Qualified Charitable Distributions can count towards your required minimum distribution, allowing you to use your IRA to support the AOF in our mission.

Thanks to the Legacy IRA Act, the annual qualified charitable distribution (QCD) is now indexed for direct gifts to charity. In 2024, this amount is $105,000. Individuals age 70½ or older are permitted to make distributions from their IRA directly to charity and avoid reporting of the income.

Benefits

• It’s a tax-efficient way to make an impact. Because the distribution isn’t taxable income, it’s effectively a charitable deduction.
• You can direct your gift to a specific fund or purpose within the American Osteopathic Foundation
• The distribution can count towards your annual required minimum distribution (RMD) for those 72 and older.
• It’s a special opportunity for individuals aged 70½ and older to give up to $105,000 annually to support the mission of the AOF.

To learn more about QCDs, contact Scott Park, (312)202-8232 or spark@aof.org

Stocks, Bonds & Mutual Funds

When you gift stocks and other securities, you make an outsized impact without taking money directly out of your bank account. Plus, neither you nor the American Osteopathic Foundation will be taxed on the gains for appreciated assets you donate.

Benefits

• You may receive immediate income tax savings.
• You may be able to avoid capital gains tax on appreciated stock.
• When you give appreciated stocks directly to charity, your gift can be up to 20% larger because you avoid the taxes you’d incur from selling and donating the cash.
• Donations of appreciated securities may be designated for a specific fund or purpose in the Foundation’s mission.

To learn more about gifting securities to the AOF please contact Scott Park, (312)202-8232 or spark@aof.org

Donor Advised Funds

You can make a grant from your existing donor advised fund to make a difference and support the future of the Osteopathic community today.

A donor advised fund, or DAF, is like a charitable investment account for the sole purpose of supporting charitable organizations you care about, like the AOF. When you contribute cash, securities, or other assets to a donor advised fund, you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth, and you can recommend grants to virtually any IRS-qualified public charity.

If you don’t have a Donor Advised Fund, you can establish one now with the American Osteopathic Foundation.

How It Works

Fund your account: To establish your donor advised fund (DAF), you make an irrevocable contribution to the AOF—which could include cash, stock, real estate and more.

Receive an immediate tax deduction: When you contribute to your donor-advised fund, you may be eligible to claim an itemized tax deduction for federal and/or state income tax purposes. Because donor advised fund sponsors are public charities, your donation is considered a tax-deductible charitable contribution. The amount of the deduction will depend on several factors, including the type of asset donated and how long you have owned it. This arrangement allows you to plan your gift when it makes sense for you and to recommend grants to your favorite charitable organizations at any point in the future.

Personalize your DAF account: As you establish your donor advised fund account, you can structure it in a way that best meets your charitable goals. You can design a legacy plan to determine what will be done with your DAF assets beyond your lifetime, which may include appointing successor advisors or charitable beneficiaries.

Support your favorite charities, now or in the future: As soon as your donor advised fund is established and funded, you can recommend grants to the charitable organizations closest to your heart. You can make single or recurring grants, either with recognition or with total anonymity.

Use your fund to make a gift now: Donors may recommend grants at any time to qualified U.S. charities. Typically, a grant check accompanying a letter will be sent to the recipient organization. The letter is personalized per the donor’s instructions and can also have a special purpose noted, such as “In honor of” or “In memory of …”.

Create a legacy gift: The final distribution of contributions remaining in your donor advised fund after your lifetime can be designated when you create or update your fund. By simply completing the beneficiary designation form assigned to your fund, you can name successor advisors to your fund or a specific charity(ies) to receive a portion of your fund balance.

To learn more about creating a Donor Advised Fund at the AOF, contact Scott Park, (312)202-8232 or spark@aof.org

Scholarship funds

Scholarship funds are personalized funds you create to help others advance their education or training. With the assistance of our staff, you can determine scholarship guidelines, including eligibility criteria, award amount, and the selection committee. Many scholarship funds are set up in honor or memory of loved ones.

To learn more about creating a Donor Advised Fund at the AOF, contact Scott Park, (312)202-8232 or spark@aof.org

Endowment funds

Endowment funds can be established to provide a permanent source of support for a scholarship or other need or interest.

To learn more about creating a Donor Advised Fund at the AOF, contact Scott Park, (312)202-8232 or spark@aof.org

Life Insurance

When the original purpose for a life insurance policy no longer applies, you can donate your policy to the American Osteopathic Foundation to support the continuation of the Osteopathic profession.

Benefits

• When you transfer ownership of a life insurance policy, you can receive an immediate income tax deduction for the cash value of the policy.
• If you make your premium payments on the gifted policy directly to the AOF, we will forward them to the insurance company, and you may be eligible for a charitable deduction for your payments.

Donating life insurance allows you to make a significant and meaningful gift today without affecting your cash flow during your lifetime. To learn more about gifting a life insurance contract to the AOF, contact Scott Park, (312)202-8232 or spark@aof.org

Will or Trust

A charitable bequest through your will or revocable trust is an easy and flexible way to help us in our mission to support the Osteopathic community. Your will or trust gives you peace of mind knowing your loved ones are taken care of, your assets are distributed accurately, and your gift reflects your personal values. By including a bequest to the American Osteopathic Foundation in your estate plan, you ensure you’re leaving a lasting impact that will sustain our work into the future.

Benefits

• You retain control of your assets throughout your lifetime.
• You retain flexibility with the ability to modify your bequest as your circumstances change.

You can customize how to make your gift by specifying a specific dollar amount, a particular asset (such as stock or real estate) or name the AOF as a remainder/residual beneficiary of your estate by leaving a percentage of whatever remains of your estate after all specific bequests are paid.