Alphabet Soup
DAF
What is Donor Advised Fund?
When a planned gift is left in a will, it is called this.
What is a bequest?
Donors age 73 or older must take this required yearly withdrawal from their Individual Retirement Account (IRA).
What is Required Minimum Distribution (or RMD)?
This is the most common asset donors use to fund a gift.
What is cash?
This legal document directs how property is distributed after death—unless a beneficiary designation says otherwise.
What is a will?
QCD
What is a Qualified Charitable Deduction?
Two common types of planned gifts are called “charitable remainder” and “charitable lead.”
What are trusts?
Donors age 70½ or older can transfer up to $100,000 each year directly from their IRA to charity, avoiding income tax on the withdrawal. This special gift is called this.
What is a Qualified Charitable Distribution (QCD)?
For donors wishing to fund a larger planned gift without touching their cash, these alternative forms of funding a gift can have a big impact and can also have positive capital gains tax implications.
What are appreciated assets or real estate?
Instead of leaving a set dollar amount in their will, some donors choose to leave this portion of their estate.
What is a percentage (or share)?
CGA
What is a Charitable Gift Annuity?
Donors can make a planned gift quickly and easily by naming Knox as this on assets like retirement accounts, life insurance policies, or bank accounts.
What is a beneficiary designation?
Donors with 401(k) or 403(b) accounts can still make QCDs if they first move funds into this type of account.
What is an IRA?
Most people name a spouse or children as a beneficiary of this, but you can also name a charity — and it’s something many people purchase and pay for annually.
What is a life insurance policy?
If a donor in his/her will specifies a particular purpose for which the bequest must be used, such as an endowed scholarship fund or a building renovation fund, what type of gift is this?
What is restricted gift?
CRUT
What is a Charitable Remainder Unitrust?
Donors who let us know they have included Knox in their estate plans are welcomed into this recognition society.
What is the Old Main Society?
Created by the Secure Act 2.0, this one-time option allows donors age 70½ or older to give up to $54,000 (in 2025) from their IRA to fund a charitable gift annuity.
What is a Legacy IRA gift?
Also known as a Legacy IRA Rollover to Charitable Gift Annuity, or a Charitable Rollover Gift Annuity.
Savings built up during a career in accounts like a 401(k), 403(b), or IRA are known as these types of assets.
What is retirement assets?
One big advantage of having a trust instead of just a will is that it helps avoid this costly and public court process.
What is probate?
NIMCRUT
What is a Net Income with Makeup Charitable Remainder Unitrust?
Donors making a planned gift are encouraged to consult with their attorney, financial advisor, and this tax professional they usually meet with by April 15 each year.
What is tax advisor or Certified Public Accountant (CPA)?
To make a charitable gift with your RMD, the IRS requires you to meet this age, send the funds this way, and complete it by this date.
What is: be at least 70½, have the gift transferred directly from the IRA to the charity, and complete it by December 31?
This type of planned gift can be funded with cash, appreciated securities, or even certain retirement assets—and in return, it provides fixed lifetime payments to one or two people.
What is a charitable gift annuity?
With this type of trust, the donor or loved ones receive income for life or a term of years, and when it ends, the remainder goes to charity.
What is a charitable remainder trust?