Alphabet Soup
Giving Basics
IRA's
Fund a Planned Gift
Wills & Trusts
100

DAF

What is Donor Advised Fund?

100

Planned gifts are given in the form of this when left in a will.

What is Bequest?

100

If you have an IRA and you are 73 or older, you must take a RMD each year – RMD stands for what?

What is Required Minimum Distribution?

100

The most commonly used way to fund a gift

What is Cash?

100

If a donor uses a will to donate to SCU what type of gift is this?

What is a Legacy Gift or Estate Gift?

200

QCD

What is a Qualified Charitable Deduction?

200

The types of planned gifts include “charitable remainder” and “charitable lead.”

What is Trust?

200

Is an RMD a Taxable Event?

Yes

200

For donors wishing to fund a larger planned gift without touching their cash, this alternative form of funding a gift can have a big impact and can also have positive capital gains tax implications.

What is Real Estate or Appreciated Assets?

200

When leaving a gift in your will, some donors choose to leave a specific dollar amount while others choose to leave a _______ , of their estate.

What is Percentage or Portion?

300

CGA

What is a Charitable Gift Annuity?

300

True or False: Estate Planning laws prevent planned gifts from being distributed in a proportional manner. Example: My Life Insurance Policy cannot list 50% to a family member and 50% to a charity.

False

300

What is the IRS Term used to describe the process when a person puts their RMD back into a retirement account to avoid taxation?

What is Tax Fraud / IRS penalty / Illegal ?

….Pick your violation.

300

Everyone knows they can name their spouse or children as a beneficiary on this, but did you know you could also list a charity on this resource that most people purchase and pay on annually.

What is Life Insurance Policy?

300

If a donor in his/her will specifies a particular purpose toward which the bequest must go, such as the Fr. Paul Locatelli, S.J. Scholarship Endowment, what type of bequest is this.

What is Restricted Gift?

400

CRUT

What is a Charitable Remainder Unitrust?

400

Donors wishing to make a well-planned gift should consult with their attorney, financial advisor and “this” professional who they meet with by April 15 of each year.

What is Tax Advisor or Certified Public Accountant (CPA)?

400

True or False? The IRS requires RMDs be reinvested in a taxable account or spent within one year of receipt.

False

400

Savings that you accumulate through your professional career, such as a 401K, are referred to as these types of assets.

What is Retirement Assets?

400

How would one designate SCU to receive under their will if their designated beneficiaries are no longer alive or decline the bequest?

What is designate SCU as an alternative beneficiary or contingent beneficiary?

500

NIMCRUT

What is a Net Income with Makeup Charitable Remainder Unitrust?

500

Donors who notify us that they have arranged for a planned gift to SCU are included in what society?

What is the Thomas Bergin Legacy Society?

500

What are the requirements to make a charitable donation using your RMD?

What is: 70-1/2, transferred directly from the IRA to the Charity, and completed prior to 12/31.

500

An attractive tool for making a planned gift to a charity while earning income today is a trust. Name one of the two most popular types of charitable trusts.

What is Charitable Lead Trust and Charitable Remainder Trust?

500

This type of trust transfers ownership and management of cash and/or appreciated securities to SCU.

What is a Charitable Trust?