Wills & Planned Giving
There are many ways to include De Novo in your estate plan. You can make a meaningful gift to De Novo through your will or trust, retirement assets, or life insurance.
You can also make a Qualified Charitable Distribution through your IRA right now without the withdraw being treated as taxable income.
Bequests
De Novo can be named in your will or trust to receive either a specific bequest (of a particular dollar amount or asset) or a residuary bequest (for all or a percentage of your net estate) at your death.
Sample language for a bequest to De Novo:
"I hereby give, devise and bequeath to De Novo Center for Justice and Healing, Inc., or its successor, now or formerly at 47 Thorndike Street, SB-LL-1, Cambridge, MA 02141, [$____] as an unrestricted gift for its general charitable purposes.”
IRA Qualified Charitable Distributions
Federal law allows you to make a direct transfer of up to $100,000 per year to De Novo from your Individual Retirement Account (IRA) without the withdrawal being treated as taxable income. This type of transfer, known as a qualified charitable distribution (QCD) may also count toward satisfying your Required Minimum Distribution.
To qualify:
You must be age 70½ or older at the time of your QCD.
Gifts must be made directly from your IRA account by your IRA administrator to De Novo. Funds that are withdrawn by you and then contributed to De Novo do not qualify as a QCD.
Gifts from certain types of retirement plans do not qualify as QCDs.
Benefits:
You can make QCDs of up to $100,000 per year to qualifying charities such as De Novo.
QCDs are not included in your gross income for federal income tax purposes (so no charitable deduction is available for QCDs).
QCDs may count toward your Required Minimum Distribution for the year.
To make a QCD from your IRA to De Novo, contact your plan administrator for the required forms.
As some plans do not identify the donor of a QCD to us, please contact us with the name of your financial institution and amount of your contribution at (617) 405-5458 or abecker@denovo.org.
IRA/Retirement Plans
De Novo can be named as a primary or contingent beneficiary of your retirement plan (e.g., IRA, 401(k), or 403(b)).
To include De Novo in your retirement plan, notify your plan’s administrator and complete a change of beneficiary form. De Novo’s Tax ID Number is 04-2470335.
Life Insurance
You can name De Novo as a beneficiary of your life insurance policy or gift a paid-up policy outright.
Please note: This information is not intended as tax or legal advice. We recommend that you consult with your legal and financial advisors to learn how a gift would work in your circumstances.
Learn more
De Novo’s Tax ID Number is 04-2470335.
Thank you for considering a planned gift to De Novo. For more information, please contact us at (617) 405-5458 or by e-mail at abecker@denovo.org.