Other Ways to Give
While the Pacific Research Institute welcomes direct contributions, there are easy ways, often with significant tax benefits, to support PRI’s mission with non-cash assets. Here are some ways of supporting our work that you may want to consider:
Making a Gift from Your IRA
As you plan your minimum required distributions for this year, please consider using it as a tax free, charitable gift to PRI.
Individuals ages 70½ and over can make charitable gifts directly from a traditional IRA account without incurring federal income tax on the withdrawal. The IRA Charitable Rollover provides you with an excellent opportunity to make gifts during your lifetime from an asset that might be subject to multiple levels of taxation if it remained in your taxable estate.
A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to PRI free from federal income tax each year. There may also be state income tax savings. Amounts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.
Here are the steps to take to make a gift to PRI directly from your IRA:
- Contact your IRA administrator and instruct that person to transfer funds to:
Pacific Research Institute (FEIN# 94-2528433) P.O. Box 60485, Pasadena, CA 91116.
- IRA administrators don’t always include the donors’ names on distribution checks. Please let us know in advance so we’ll be able to identify your gift. Also, let us know if you want your gift used for a particular purpose.
AmazonSmile is a website operated by Amazon with the same products, prices, and shopping features as Amazon.com. The difference is that when you shop on AmazonSmile, the AmazonSmile Foundation will donate 0.5% of the purchase price of eligible products to PRI.
To start, visit https://smile.amazon.com/ and select Pacific Research Institute as your charity.
Planned Giving at PRI
Including PRI in Your Will or Trust
A legacy gift to PRI in your will or trust documents will ensure that PRI is able to continue providing the intellectual backbone for market-based reforms long into the future. Whether your bequest is a specific amount or a percentage of your estate, PRI will use your gift to continue advancing our shared values of opportunity and personal responsibility.
This sample will language can be a starting point for adding a bequest for PRI to your will or trust documents:
“I give, devise, and bequeath to the Pacific Research Institute, Inc., a qualified section 501(c)(3) charitable organization, located in San Francisco, CA, _____ percent of my residual estate [or a specific bequest of $________, or other specific personal or real property] to be used for its general charitable purposes.”
Since all forms of estate gifts raise tax and other issues, you should consult with an attorney concerning the preparation of your will or living trust.
Listing PRI as a Beneficiary of Retirement Accounts and Insurance Policies
Listing PRI as a beneficiary of retirement accounts and insurance policies make supporting PRI over the long term and beyond your lifetime easy, and allow your heirs to avoid paying taxes on these assets. This is as simple as completing a beneficiary designation form with your account custodian listing Pacific Research Institute for Public Policy (tax ID number 94-2528433) as the beneficiary for all or part of your account.
Using retirement accounts and insurance policies as gifts to PRI allow heirs to avoid paying taxes on these assets, and in the case of retirement accounts, avoid the double taxation of income taxes for non-spousal beneficiaries on top of estate taxes owed.
Legacy Giving Benefits
If you let PRI know about your intended planned gift, you will be invited to enjoy special events and recognition as a member of PRI’s Sir Antony Fisher Freedom Society.
For more information about membership, click here.
If you would like additional information or have any questions as you consider these alternative giving options, please contact Ben Smithwick at 626-714-7572 or [email protected]. Ben can help facilitate your gift and provide more information on how to leave a legacy of freedom through PRI.
Pacific Research Institute’s Tax ID Number: 94-2528433
*Please consult your tax or financial advisor if you are considering a charitable IRA rollover to PRI.