Planned Giving
You can help shape the future of Rogers Park Montessori School through your will or trust. Gifts of bequest allow you to leave a legacy that helps RPMS provide a quality Montessori education to the youth of the future. This can be done through life insurance policies (absolute assignment), cash, marketable securities, certificates of deposits, charitable remainder trusts, living trust, or retirement plans. Planned_Giving_Brochure.pdf (138 KB)
ENCORE! Charitable IRA Legislation Passed
There's good news for individuals aged 70½ or older with individual retirement accounts. Thanks to the extended charitable IRA legislation, you can once again make outright gifts using IRA funds without tax complications.
If you are required to receive minimum distributions from your IRA, consider using those funds as a charitable gift to Rogers Park Montessori School. While you cannot claim a charitable dedecution for the IRA gifts, you will not pay income tax on the amount.
You may contribute funds this way if:
- You are 70½ or older
- Your IRA gifts total $100,000 or less
- You transfer funds directly from an IRA
- You transfer the gifts outright to one or more public charities (This excludes gifts made to charitable trusts, donor advised funds and supporting organizations.)
The Benefits 
In most cases, the transfer counts toward your minimum required distributions.
- The gift generates neither taxable income nor a tax deduction, so even those who do not itemize their tax returns receive the benefit.
- You may transfer up to $100,000 directly from your IRA.
- The distributions may be in addition to or fulfill any charitable giving you have already planned.
The Next Step
Be sure to contact tax professionals and your IRA administrator if you are considering a gift under this law. Qualifying gifts require that the donors cannot receive benefits or perks in exchange for their gifts.
