Ruth Miller Legacy Society
What is the Ruth Miller Legacy Society?
Membership in the Ruth Miller Legacy Society is for individuals who have made planned gifts through various methods to secure the financial future of The Arc Northern Chesapeake Region. A planned gift carries on the mission started by Mrs. Miller and the other nine founding families, and ensures the organization’s future by providing long-term stability.
Who is Ruth Miller?
Ruth Miller is a founding member of The Arc NCR. She has spent a lifetime advocating for individuals with intellectual and developmental disabilities. Click here to read her story!
Why should I join?
Planned Giving is an important type of donation that typically involves documenting a future gift to ensure people with intellectual and developmental disabilities will have access to The Arc NCR’s programs and services for many years to come. By making a planned gift, you automatically join the Ruth Miller Legacy Society.
What types of planned gifts can I donate?
|Type of Gift
||Gift identified in your will or trust.
||Name the organization as a beneficiary.
||Lead or Remainder Trust to benefit the organization.
||Organization is the beneficiary.
Beneficiary designation is made to The Arc Northern Chesapeake Region Foundation, Inc.
Federal ID # 20-0022324.
The Arc NCR’s Foundation is a registered 501(c)(3).
The most common form of planned gift is a bequest made in your will. This type of gift usually requires the assistance of a knowledgeable advisor such as an attorney, financial planner or CPA to help structure your gift. In addition, these giving structures can be balanced with the needs of your family and the financial security you want to provide them. Bequests from your will can be made with assets such as cash, stocks, annuities, real estate, IRA designations, art pieces or other business interests.
You can name The Arc NCR Foundation as a beneficiary of your IRA, 401(k) or other qualified plan. IRAs are common retirement savings plans, but if the IRA is left to heirs, the taxes that were deferred during your lifetime are then due to be paid. When you donate assets from a qualified plan to The Arc NCR Foundation, there are numerous tax advantages.
People with large estates can use a charitable lead or remainder trust to benefit The Arc NCR Foundation and pass the principal to family members with little or no tax penalty. Several forms of trust gifts exist, including living trusts,charitable remainder trusts and testamentary trusts. Check with your attorney, financial planner, CPA or other professional to see which trust best suits your needs.
Life insurance purchased in earlier years sometimes isn’t needed for dependents or the family members it was originally purchased to benefit. It can be donated with a tax advantage. It is easy: name The Arc Northern Chesapeake Region Foundation, Inc., Federal ID #20-0022324 as the beneficiary of the policy.
Stocks can be donated to The Arc NCR Foundation with no capital gains. The stock is transferred to the organization and is then sold.
• Donor receives a higher tax deduction of appreciated value.
• Neither the organization nor donor would pay capital gain tax.
Please contact your attorney or CPA for further assistance.
How will The Arc NCR use my planned gift?
The Arc NCR Foundation Board oversees all investments and expenditures. Legacy gifts are used for future generations at The Arc NCR to fund its programs and services for years to come.
How do I amend my will to include a gift for The Arc NCR?
Your attorney can prepare a codicil to your will or an amendment to your trust to include The Arc NCR Foundation, Inc. The Foundation will be happy to work with you and your attorney to help ensure that your wishes are clearly stated.
I would like to support The Arc NCR Foundation but have a limited estate. Is there a minimum gift to be a member of the Ruth Miller Legacy Society?
All gifts are welcome and will benefit future individuals with developmental disabilities and their families. A legacy gift can be as simple as changing the beneficiary on your IRA.
For more information about joining the Ruth Miller Legacy Society, contact Development at 410-836-7177 or firstname.lastname@example.org.