Planned Giving

Your Will or Trust

A will is your legal document that ensures your wishes are carried out as you intend and that your family and loved ones are cared for. Without a will, the state makes all major decisions, including how your property and assets will be distributed once you pass. Having a will is important for you and your family.

Through your Last Will and Testament, you may designate planned gifts to friends, family, and organizations of your choice. You can including Chalcedon in your will or living trust allowing you to make a future gift while maintaining control over your assets during your lifetime. You may designate your gift as a fixed dollar amount, a percentage of the total estate, or a percentage of the residual estate.

Include this paragraph with your specific bequest language:

Chalcedon is a nonprofit organization and is qualified for tax exemption under Section 501(c)(3) of the Internal Revenue Code. Chalcedon’s tax identification number is 95-6121940.

We suggest contacting an attorney to prepare a will that reflects your express wishes. Contact us for more information to answer any questions you may have.

Chalcedon as a Beneficiary

Naming Chalcedon as a beneficiary on any of your financial accounts is a straightforward way to make a future planned gift—without changing your Last Will. You may contact your bank, broker, or retirement account administrator and request Transfer-on-Death (TOD) or Payable-on-Death (POD) forms to designate Chalcedon as a beneficiary.

TOD or POD accounts remain in your ownership and control while you are living. You may make additions or withdrawals from the account and may cancel or change the named beneficiary. At your death, remaining assets would simply be transferred to Chalcedon.

Life Insurance

Most people purchase a life insurance policy to provide for their children, protect their home mortgage, or secure retirement funds. As people age, they may find that they no longer need financial protection in these areas, and may use their policy as a planned gift to Chalcedon.

There are several ways you can use your policy. For example, you can name Chalcedon as the owner and beneficiary of your policy, as the sole beneficiary, as a co-beneficiary, or secondary beneficiary. Alternatively, you may assign annual dividends to Chalcedon as a gift. You may deduct this amount on your income tax return. Specific tax benefits will depend upon on the method of giving you choose.

Retirement Assets

Retirement assets are tax-deferred retirement accounts, designed to promote savings for retirement, and include profit sharing, IRAs, 401(k), 403(b), and pension plans. As some individuals approach retirement age, they discover that they have accumulated more funds than they will likely use. If you have a larger estate, subject to both income and estate tax, retirement assets may be a good source for your planned gift to Chalcedon.

If you are between ages 59½ and 70½, you may donate a portion of your retirement assets by making a taxable withdrawal and then donating the cash.

Alternatively, you may consider naming Chalcedon as a primary or contingent beneficiary of your retirement assets. This allows you to avoid significant income and estate taxation. By naming Chalcedon as a beneficiary of your retirement plan, you maintain complete control over the asset while living.

Simply request a change of beneficiary form from your retirement plan administrator. When the form has been properly submitted, please notify Chalcedon as well. Your designation should include our name and address: 

Chalcedon, Inc.
PO Box 158
Vallecito, CA 95251
United States

Please include our tax ID number: 95-6121940.

For individuals who meet certain requirements, The IRS regulations allows up to a $108,000 charitable contribution from eligible IRA accounts with numerous tax advantages. Qualifying charitable distributions (QCD) made from a traditional or other eligible IRA may be excluded from gross income, provided certain provisions are met. Such gifts may satisfy the required minimum distributions (RMD) for the year when the QCD is made.

To receive favorable tax benefits, the following conditions must be met:

• Donor must be 70½ or older at the time of the gift
• Funds must be withdrawn from a traditional or other eligible IRA account
• Funds must be directly transferred from the IRA to the qualified charity with no intervening ownership by the IRA owner
• Donor must not receive any benefits of value in return for the gift
• Gifts must not exceed $108,000 in total qualified charitable distributions per tax year, per individual
• Gift must be properly reported to the IRS on the donors’ tax return

This last requirement requires careful attention. We suggest that you consult your tax adviser for instructions on how to report your donation from your IRA on your tax return.

Once Chacledon receives your gift, you will receive a nondeductible gift acknowledgement from Chalcedon. We suggest that you consult your tax adviser for instructions on how to properly report your donation from your IRA on your tax return.