Create Your Legacy of Philanthropy
Due to the tax changes in 2018, many people who like to contribute to charitable organizations have lost the financial incentive of getting an itemized deduction on their individual income tax return because the standard deduction was raised. Most people now use the standard deduction and see no direct benefit when contributing to a charitable organization. The CARES tax legislation allows an “above the line” deduction for charitable contributions up to $300 for cash contributions to public charities in 2020, even if the standard deduction is taken. This new change in the tax law gives a financial incentive to individuals that make a charitable contribution in 2020 to a public charity.
Individuals over the age of 70 ½ that take a Required Minimum Distribution from their retirement savings have an opportunity to make a charitable contribution and experience some tax savings. Donations made directly from their retirement savings to public charities reduce the amount of the RMD that is taxable to the individual and will help the Oak Hills Alumni & Educational Foundation provide opportunities for our students, beyond what tax dollars will cover.
During your lifetime, you can recommend a grant from your Donor-Advised Fund to impact lives through The Oak Hills Alumni & Educational Foundation.
A grant from your DAF can provide hope, education, support and guidance for students and teachers.
It’s easy for you to work with your DAF to support OHAEF. Simply contact your fund manager and recommend OHAEF along with the amount of the grant.
Please be sure to tell us about your grant so we can thank you for your generous support.
The final distribution of contributions remaining in your DAF after your lifetime can be designated when you create or update your fund. If you decide to change your beneficiary designation, would you let us know? We would like to recognize you for your generosity and ensure that your gift is used as you intend.