Planned Giving

Create a Legacy

Continue your family legacy for years to come with planned or deferred gifts.  These are gifts that you may make personally or together with your family.  Please consider K12 Gallery & TEJAS as a legacy gift opportunity.

Establishing an estate plan or revising an existing plan to include K12 Gallery & TEJAS in your will or financial or estate plan can preserve your charitable intent in perpetuity and may significantly reduce your tax liability.

When you make a legacy gift to K12 Gallery & TEJAS, you can be assured that your generosity will make art accessible to future generations for years to come. 

Gifting a life insurance policy is one of the many options available for making a legacy gift.

 Another Planned Giving option is a Qualified Charitable Distribution (QCD)

People older than 70 1/2 can transfer up to $100,000 per year from their traditional IRA’s to charity, which can count as their required minimum distribution but is not taxable if they follow the rules for a qualified charitable distribution (QCD).

Individuals must instruct their IRA trustee to make the contribution directly to an eligible charitable organization. The gift stays out of your adjusted gross income only if you make a direct transfer from your IRA to the charity.  It doesn’t count as a tax-free transfter if you withdraw the money first and then donate to the charity.  Ask your IRA administrator what steps you need to take, because the procedures can vary from firm to firm.

What is a “Qualifying Charitable Distribution”?

The requirements are relatively simple.  The charitable distribution must be:

-From a traditional IRA or a Roth IRA;

-Direct from the IRA trustee to the charitable organization – with no intervening possession or ownership by the IRA owner;

-On or after the IRA owner has reached age 70 1/2; and

-A contribution to an organization that would qualify as a charitable organization under Sec. 170(b)(1)(a), other than a private foundation or donor advised fund.

Please consider K12 Gallery & TEJAS for your qualifying charitable distribution.  For additional information, we recommend consulting with your tax advisor.

For more information on  planned giving, please contact Rebecca Cantrell, Development Director at rcantrell@k12tejasgallery.org or (937) 461-5149.