Tax Planning
Become a partner and help protect the history and preserve the memories at Greenwood Cemetery! Thank you for considering an endowment, donation, or bequest to Friends of Astoria Greenwood Cemetery.
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Our finances are managed by a fiscal sponsor that is recognized as tax-exempt under Section 501 (c) (3), so donations to Friends of Astoria Greenwood Cemetery qualify as tax-deductible.
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RMD's--
Whereas we profess no financial or tax expertise, we would humbly request that you speak with your tax advisor about the possibility of avoiding additional income tax by designating your annual RMD (or a portion thereof) to Friends of Astoria Greenwood Cemetery through our fiscal sponsor, PPF. Here is a link to the W-9 as well as the letter of confirmation of our relationship with our fiscal sponsor that you may wish to share with your tax advisor:
What’s an RMD?--
RMDs are required minimum distributions investors must take every year from their retirement savings accounts, including traditional IRAs, starting at age 72.
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If you do not wish for the RMD to affect your income for the year, you may wish to consider gifting up to $100,000 annually to qualified charities. Please consider including Friends of Astoria Greenwood Cemetery. Generally, qualified charitable distributions, or QCDs, aren’t subject to ordinary federal income taxes. As a result, they’re excluded from your taxable income as long as the check goes directly to the charity and not through your personal bank account. Again, please check with your financial advisor for specifics and how it would affect your particular circumstance or situation.
Beneficiary Designation--
If you have loved ones at Greenwood Cemetery or own a plot for you or your family for future need, another charitable and tax-saving alternative to help provide for the restoration and maintenance of Greenwood Cemetery far into the future would be to name Friends of Astoria Greenwood Cemetery as the beneficiary of your IRA while leaving other, lower taxed assets to your heirs.
A gift in your Will--
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If Greenwood Cemetery has been important to you or your family, you can support this part of your life and honor the lives of your predecessors with a gift to Friends of Astoria Greenwood Cemetery in your Will.
If a bequest feels right to you, your gift will help keep the character and peaceful feel of Greenwood Cemetery long into
the future.
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Again, please talk to your tax-advisor about any of these ideas to discern which would suit your needs and interests the best.
Your gift will be used for the care and upkeep of monuments, and for the functionality of the cemetery grounds, roadways, and property. A large portion of the funds will be placed into a type of perpetual trust account for ongoing cemetery maintenance allowing Greenwood Cemetery to function long into the future.
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Thank you for caring and and for becoming a vital part of the Greenwood family. Thank you for being a partner and a Friend of Astoria Greenwood Cemetery!