Planned Giving
What will your legacy be?
You can leave a lasting legacy to Small Magic through a gift from your will, trust, estate, or life insurance policy. We are grateful for gifts of all sizes.
Bequests
A gift from your will or trust gives you complete control of your assets during your lifetime, while leaving a generous legacy for the children in our community. For some, bequests can also potentially reduce estate taxes.
With a specific bequest, you can designate a specific dollar amount or specific asset to Small Magic.
Specific Bequest Sample:
“I give to Small Magic, Tax ID# 84-2967401, presently headquartered at 351 24th St N #785, Birmingham, AL 35203, [specific dollar sum or asset], to be used for its general purposes.”
With a residual bequest, Small Magic will receive the remainder of your estate, or a specified percentage, once all other bequests have been made and costs addressed.
Residual Bequest Sample:
“I give to Small Magic, Tax ID# 84-2967401, presently headquartered at 351 24th St N #785, Birmingham, AL 35203, [% or all] of the residue of my estate, including real and personal property, to be used for its general purposes.”
A contingent bequest assumes you will leave your entire estate to loved ones; however, if you outlive any beneficiary, you can designate Small Magic to receive that portion of your estate.
Contingent Bequest Sample:
“If [Name of Primary Bequest Recipient] is not living, I give [all, dollar amount, or %] of the remainder of my estate to Small Magic, Tax ID# 84-2967401, presently headquartered at 351 24th St N #785, Birmingham, AL 35203, to be used for its general purposes.”
Retirement plan gifts
You can make a gift from your 401k, IRA, 403B, or other qualified retirement plan by naming Small Magic as a beneficiary. Retirement plan gifts are fully tax-exempt.
Real estate gifts
Real estate can be donated as retained or standard gifts. Retained gifts allow you to benefit from an immediate income tax deduction while continuing to use your property during your lifetime. Standard gifts can be made via your will or living trust and result in a charitable income tax deduction at the time of donation.
Other gifts
Small Magic also accepts:
- Direct donations of stocks, bonds, and mutual funds
- Gifts from Donor Advised Funds
- Gifts from Charitable Remainder Trusts and Charitable Gift Annuities
To discuss making a larger gift or for additional legacy giving opportunities, please reach out to hi@smallmagic.org and a member of our development team will be in touch.
Small Magic is a non-profit organization fully qualified under 501(c)(3) of the Internal Revenue Code. All contributions are tax deductible to the maximum extent permitted by law. Small Magic’s Tax ID# is 84-2967401.