Planned giving allows you to have a lasting impact on students in our community. You can designate the Albany Public Schools Foundation as a beneficiary in your will or trust or as a recipient of your Required Minimum Distributions (RMDs). Charitable giving can have tax benefits while ensuring that your legacy supports your philanthropic goals.
Estate planning gives you the opportunity to define your legacy. To discuss how APSF can help you maximize your philanthropic impact, please reach out to Peggy Burris at 541-979-2773 or executive@albanypsf.org.
Under current federal tax law, when you designate a charitable organization like APSF as a beneficiary of your estate, the value of that donation is fully deductible from the estate’s total value. This can lower the amount of estate tax your heirs will have to pay.
An RMD, or Required Minimum Distribution, is the minimum amount you need to withdraw from certain retirement accounts each year. You generally need to start taking RMDs after you reach age 73. You can reduce the taxes you would normally pay on your RMD by donating it to the Albany Public Schools Foundation. You can make a tax-free donation directly from your IRA to APSF using a Qualified Charitable Donation (QCD). A QCD can satisfy your RMD requirement without needing to pay taxes on the income.
Did you know that you can make a lasting impact on the Albany Public Schools Foundation through a gift from your individual retirement account (IRA) or your Donor Advised Funds (DAFs)? These options allow you to support local students in a meaningful way while also potentially providing tax benefits for you.
DAF’S-Donor Advised Funds are a charitable way of giving to the Albany Public Schools Foundation while you, the donor, will receive an immediate tax deduction. There are big tax changes in 2026 with charitable contributions and how you can deduct your donations on your taxes. If you contribute several years’ worth of charitable giving into a donor advised fund this year, you can itemize and take a larger deduction right away. Then in the years ahead, you can simply take the standard deduction while still using your DAF to make annual grants to your favorite charities, such as the Albany Public Schools Foundation.
“QCDs,” or Qualified Charitable Distributions, let people aged 70½+ donate from their IRA directly to a charity. The transfer isn’t taxable, it reduces tax liability, and counts toward the required minimum distribution (RMD). Individuals can donate up to $105,000 to qualified charitable organizations directly from their IRA. The donation amount can be deducted from their taxable income, potentially reducing their taxable income, and potentially reducing their required minimum distributions (RMDs) while supporting the Albany Public Schools Foundation.
Giving through your IRA or setting up a DAF can make a powerful impact on the future of the Albany Public Schools Foundation while maximizing your tax benefits. Please consult with your financial advisor to further explore these opportunities.
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