This enables a donor to make a gift of cash or other assets to the Foundation and receive income, capital gain and estate tax benefits. The donor makes an annuity agreement gift with the Foundation and retains the right to receive life income payments from the gift. In the event of the donor’s death, the Foundation may use the remaining principal for educational programs and scholarships.

Giving from your IRA is a great way to support your AKPsi brothers while also maximizing your tax benefits.

Individuals who are 70.5 or older may make charitable contributions from their Individual Retirement Accounts (IRAs).

Your IRA custodian can make a check payable to the AKPsi Foundation and forward that directly to us. For IRA owners in Required Minimum Distribution (RMD) status, any donation you make from your IRA is a dollar-for-dollar reduction of the remaining amount you are required to receive for that year’s RMD.

You do not have to report the donated amount as income for the year, and thus you do not increase your federal adjusted gross income. This helps reduce your federal and state income tax liabilities. You can do this with up to $108,000 per calendar year.

Additionally, individuals age 73 and older must make RMDs from their IRAs. Charitable gifts can qualify as an RMD. As you are not reporting the amount of the donation as income, you do not receive a corresponding federal itemized charitable tax deduction for the amount. However, this typically still results in additional income tax savings due to the reduction in your federal adjusted gross income.

If you would like to make a gift from your IRA, please provide the following information to tax your advisor:

DTC# 0221
FIRM: UBS Financial Services
Account: # 2H 00080

Receiving Beneficiary:  Alpha Kappa Psi Foundation
Receiving Beneficiary/Account Name:  Alpha Kappa Psi Foundation
Reference: include your name and the name of the fund you’d like to support

Additional useful information:

Alpha Kappa Psi Foundation Tax ID: 35-6016131

Before a transfer of stock is made, please notify AKPsi of your intent to give and allocation for your gift. Please contact foundation@akpsi.org for any questions.

Another way to utilize an IRA, 401(k), life-insurance policy, or any other asset for charitable purposes is to designate AKPsi as the beneficiary in your will. These are called non-probate assets, and you must plan your beneficiaries for them separately. Use this online tool to make your plans and designate AKPsi as a beneficiary of one or more of these assets.

One way to support AKPsi, while simultaneously reducing your tax burden, is to make gifts of stocks or other securities.

These types of gifts offer a two-fold tax savings. First, the donor avoids paying any tax on the increase in value of the stock since its purchase. Second, the donor receives a tax deduction for the full fair market value of the stock at the time of the gift.

When making a gift of stock or securities, please consult with your advisor, and provide them with the following information:

DTC# 0221
FIRM: UBS Financial Services
Account: # 2H 00080

Receiving Beneficiary:  Alpha Kappa Psi Foundation
Receiving Beneficiary/Account Name:  Alpha Kappa Psi Foundation
Reference: include your name and the name of the fund you’d like to support

Additional useful information:

Alpha Kappa Psi Foundation Tax ID: 35-6016131

Before a transfer of stock is made, please notify AKPsi of your intent to give and allocation for your gift. Please contact foundation@akpsi.org for any questions.

Most of the gifts made to the Foundation are in the form of cash through a check written by the donor. Making contributions by using a credit card has become a very popular method of contribution. These gifts are considered the same as a cash gift for tax purposes.

Gifts-in-kind (art objects, equipment, real estate, etc.) are welcomed by the Foundation. However, it is necessary to review such gifts before hand to ensure that acceptance will not involve financial commitments or other obligations disproportional to the usefulness of the gift itself. In most instances, gifts-in-kind will be accepted only if they can be liquidated and the value added to the Foundation’s asset base.

A charitable remainder trust offers income, capital gain and estate tax benefits to the donor while creating a generous gift for the Foundation. The donor establishes a trust, from which you or your designated beneficiary(ies) receives life income payments. In the event of the donor’s death, the Foundation receives the principal, or “remainder,” of the trust.

Many people own some form of life insurance because of its unique ability to meet a variety of needs for financial protection. A donor can name Alpha Kappa Psi the beneficiary of a new policy or one they currently own but no longer need. Donors may be able to receive an income tax deduction for annual life insurance premiums and a portion of the value of the policy.

Do you have an IRA, 401(k), life-insurance policy, or any other assets not included in your will? If so, these are called non-probate assets and you must plan your beneficiaries for them separately. Use this online tool to make your plans and designate us as a beneficiary of one or more of these assets.

Using retirement plan assets for a gift to Alpha Kappa Psi and other assets for family members can be beneficial to all. Because of the way qualified plans are taxed, at death, relatively little of the assets in the plan may end up in the hands of family members or beneficiaries. These assets not only are included in the gross estate for federal estate tax purposes, but are also taxed when received by the beneficiaries as income in respect of the decedent.