Take advantage of this tax-smart gift opportunity. Download our FREE guide Make the Most of Your Retirement Plan Assets: Avoid Double Taxation and Support Our Work.View My Guide
Retirement plan assets are a great way to support the work at The Jackson Laboratory because they not only advance our research, but they also can provide tax relief for your loved ones.
Money in an employee retirement plan, IRA or tax-sheltered annuity may be subject to federal and state estate taxes. In addition, each of these plans contains income that has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax in addition to applicable state income taxes.
Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to The Jackson Laboratory to make medicine more precise, predictable and personal. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. You can take advantage of this gift opportunity in the following ways:
Name us a beneficiary of your plan. This requires you to update your beneficiary designation form through your plan administrator. Here you can designate The Jackson Laboratory as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.
With the IRA Charitable Rollover, if you are 70½ years old or older, you can take advantage of a simple way to help those we serve and receive tax benefits in return. You can give up to $100,000 from your IRA directly to The Jackson Laboratory without having to pay income taxes on the money.
Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support The Jackson Laboratory. This gift provides excellent tax and income benefits for you while supporting your family and our work to improve human health.
Legal Name: The Jackson Laboratory
Address: 600 Main Street, Bar Harbor, ME 04609
Federal Tax ID Number: 01-0211513