If you want to support Nalandabodhi and leave a lasting legacy for the future of Nalandabodhi, there are many different planned giving options available to you.
The following are some basic options. There are more complex planned giving options that you may wish to discuss with your professional advisor – we will be happy to work with your advisor to achieve your goals.
OFFICIAL GIFT LANGUAGE FOR BENEFICIARY DESIGNATION FORMS (401K, IRA, BROKERAGE ACCOUNTS)
An easy way to leave Nalandabodhi money outside of a Will, Trust or other estate planning document is to name Nalandabodhi as the beneficiary on any asset—bank account, brokerage account, stocks, mutual fund, retirement account. Here is the information you need:
Name of Beneficiary: Nalandabodhi
Address: 3902 Woodland Park Avenue North, Seattle, WA, 98103
Contact Person: Benjamin Mikolaj, Wendy Pearson, or Susan Busby
Federal Tax I.D.: 91-1803978
OFFICIAL TESTAMENTARY GIFT LANGUAGE (WILLS AND TRUSTS)
If you would like to identify Nalandabodhi as a beneficiary in your Will or Trust, here is how you do it:
“I give to Nalandabodhi, a Washington state non-profit corporation, headquartered in Seattle, Washington (EIN 91-1803978), the sum of $_______ (or __% of my estate or the property described herein).”
If you would like to identify how you would like the testamentary gift used, you state:
“I give to Nalandabodhi, a Washington state non-profit corporation, headquartered in Seattle, Washington (EIN 91-1803978), the sum of $_______ (or % of my estate or the property described herein), to be used for _________(specify purpose, such as unrestricted, capital improvements, support of teachers, mitras, and acharyas, etc.).
Securities and mutual funds that have increased in value and been held for more than one year offer you the chance to support Nalandabodhi while realizing important benefits for yourself.
When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
There are two basic options for gifting securities. Nalandabodhi will provide the necessary account information to your broker to facilitate the transfer:
An outright gift. You identify the securities to be transferred and your broker makes a transfer to Nalandabodhi’s brokerage account.
A transfer on death (TOD) account. By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. Note, TOD accounts are governed by state law – please consult with your broker or financial advisor if you are considering this type of gift.