Giving Options
Disclaimer
The below gift planning information presented is not offered as and should not replace legal or tax advice specific to you or your situation. All gifts are at the discretion of The Crossing to accept. Nothing herein shall be deemed a guaranty of acceptance. All gifts are subject to The Crossing’s gifting policy(ies) in place, from time to time.
Lifetime Donation Gift
Personal Property
Donate your personal property to The Crossing. We accept items such as:
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Newly or gently used baby clothing (newborn to 6T)
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Diapers (all sizes) and baby wipes
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New baby bottles, pacifiers
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Strollers
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Baby blankets and bedding
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Pack’n Plays and basinets
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Gas gift cards
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Toiletries for mothers and babies
If you would like to donate an item, please give us a call at (920)-973-4357 to see if we are able to accept your donation.
How it works:
If we accept your item(s) for donation, you can drop-off your donation at 501 N 10th Street Manitowoc, WI 54220. We accept donations Monday-Thursday 10-5 or by appointment.
Benefits:
You may receive a charitable contribution tax deduction.
Real Estate
Consider donating real estate, such as, a personal home, vacation home, farm, commercial property, or undeveloped land.
How it works:
You can deed your real property to The Crossing. The Crossing then may use the property or sell the property and utilize the proceeds for our mission. Please give us a call at (920)-973-4357 to inform us of your intention to donate real estate and we can discuss further and coordinate the same.
Benefits:
Your real estate donation will not only help us with our mission, but it will benefit you. You may receive an income tax deduction for the fair market value of the real estate and you may minimize or eliminate capital gains tax.
IRA Rollover
A Qualified Charitable Distribution (QCD) from your IRA** is a great way to donate to The Crossing and receive tax benefits. When planning your required minimum distributions (RMD), consider donating to The Crossing. You should speak with your financial advisor or accountant to determine if this is the right option for you.
How it works:
To make a QCD, you have to meet certain qualifications, including:
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You must be at least 70 ½ years old.
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You may transfer up to $105,000 per year directly from your traditional or Roth IRA to The Crossing. (This amount is subject to change in the future and should be monitored)
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Married couples can gift up to $105,000 per person, per year, from their IRA if each meets the requirements above.
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You may not receive any goods or services in return for your gift.
If you meet the above qualifications, your IRA administrator makes the distributions directly from your IRA to The Crossing.
**Gifts must be outright; donor advised funds do not qualify. Gifts from 401(k), 403(b), "ongoing" SEP or SIMPLE IRAs, and other plans do not qualify.
Benefits:
Because it is a direct transfer, IRA QCDs are excluded as gross income for federal income tax purposes. Your gift will also count towards your RMD for the year in which you donate. Additionally, you may avoid a higher tax bracket or taxability of social security income that might otherwise result from adding RMD to your income.
Stock Gifts
Donate appreciated stocks, bonds, or mutual fund shares that you own, in-kind, to The Crossing and you may receive tax benefits.
How it works:
If you are interested in donating stock, bonds or mutual funds, please give us a call at (920)-973-4357 and we can further discuss and coordinate the same. When we receive the transfer of assets, we will sell the shares and use the proceeds for our mission.
Benefits:
Donating stocks, bonds or mutual funds, may give you an immediate income tax deduction for the fair market value of the securities on the date of transfer. You will pay no capital gains tax on the transfer when the stock is sold. When you give appreciated assets such as this, it can be more beneficial than giving cash. The "cost" of your gift is often less than the deduction you gain by making it.
Will Or Trust
Will Or Trust
Donate to The Crossing through your will or revocable living trust.
How it works:
You can make a gift through a will or trust as a specific gift, contingent or qualified gift, or remaining value of the estate. NOTE - If you make a contingent or qualified gift, please inform us so that we may verify that we are able to fulfill your request and intentions. Please inform us of your bequest, so we can properly thank you and follow up with communications about contingent or qualified gifts.
Benefits:
There are many benefits to donating through a will or trust. It will allow you to remain in control of the asset during your lifetime and you can modify your donation at any time. Furthermore, there is currently no upper limit on the estate tax deductions that may be taken for charitable bequests.
Beneficiary Designation
Retirement and Other Assets
You can name The Crossing as a beneficiary or contingent beneficiary on your retirement plan or other asset. You can designate The Crossing as a beneficiary on your 401(k), 403(b), or IRA; health savings accounts; donor advised funds; brokerage accounts; and other financial accounts, including CDs, money market, savings, checking, or any other asset that allow transfer on death (TOD) or payment on death (POD) designations.
How it works:
Contact the holder of the asset (i.e., bank or financial advisor) to determine what forms need to be filled out. You may need our tax identification number. Please inform us if you designate The Crossing as a beneficiary so we can properly thank you and follow up as necessary.
Benefits:
Donating through beneficiary designations allows you to remain in control of your asset during your lifetime and you can modify your donation at any time. Depending on the asset and/or the size of your estate, it may help your heirs avoid income and estate taxes.
Life Insurance
Donate your life insurance policy to The Crossing and receive tax benefits in return. There are a few options on how to donate your life insurance policy, including, naming The Crossing as the beneficiary of a policy, transferring ownership of a policy to The Crossing, or through gift dividends.
How it works:
If you would like to name The Crossing as the beneficiary of a life insurance policy, you may need our tax identification number and we would request you to inform us of this designation. If you would like to transfer ownership of a paid-up insurance policy or donate through gift dividends, please call us at (920)-973-4357 so we can best assist in the transfer.
Benefits:
There are different benefits for you depending on the way you would like to donate your insurance policy.
If you name The Crossing as beneficiary, you still own the policy giving you access to any cash value accumulation while you are still living and giving you the ability to change the beneficiary. If you transfer ownership to The Crossing, you may receive an immediate income tax deduction equal to cash value of donor’s policy to fund a gift that delivers income. If you donate through a gift of dividends, you may be able to take a tax deduction for donating the life insurance dividends while still maintaining ownership of the policy.
Charitable Gift Annuity
Charitable Gift Annuity
Donate through a charitable gift annuity. A charitable gift annuity is an agreement between you and The Crossing which will allow you to donate cash or assets in exchange for fixed payments for life. There are a few options for how you would like to receive annuities, including, immediate payment annuity, annuity with two beneficiaries, or deferred payment annuity.
How it works:
If you would like to discuss Charitable Gift Annuities, please do not hesitate to contact The Crossing at (920)-973-4357.
Benefits:
When you donate through a charitable gift annuity, the noted recipients receive dependable cash flow for life, regardless of fluctuations in the market. You may also receive an income tax deduction for a portion of the gift.