By making a planned gift, you can make a significant contribution to help create opportunities for people to live, work and thrive on the Lower Cape.
We encourage all interested donors to consider planned giving as a means to support the Community Development Partnership — via Bequests & Insurance Policies or Charitable IRA Rollover.
Bequests and Insurance Policies
Designating the CDP as a beneficiary in your will or insurance policy can be a significant source of support to our organization. These are attractive options available to anyone interested in supporting the CDP as:
- You don’t have to be wealthy to make a significant gift
- You can make a gift that costs you nothing during your lifetime
To ensure that your exact intentions are carried out, your estate planning documents should be prepared by, or with the advice of, your attorney. Specific gift designations or restrictions should be discussed with the CDP. The correct legal name and entity for bequests to the CDP is: The Lower Cape Cod Community Development Corporation.
Please let us know if you are including the CDP in your plans by contacting Jason Bertrand, Development & Communications Coordinator.
IRA Charitable Rollover
The law uses the term “qualified charitable distribution” to describe an IRA charitable rollover. A qualified charitable distribution is money that individuals who are 70 1⁄2 or older may direct from their traditional IRA to eligible charitable organizations. The provision has a cap of $100,000 for charitable distributions from individual IRAs each year. Individuals may exclude the amount distributed directly to an eligible charity from their gross income.
The Pension Protection Act of 2006 (PPA) is what originally permitted individuals to roll over up to $100,000 from an individual retirement account (IRA) directly to a qualifying charity without recognizing the assets transferred to the qualifying charity as income. While this initial provision expired on December 31, 2007, it has been extended several times. On December 18, 2015 the President signed the PATH Act making this special provision (Section 112) permanent.