Tek4Kids

Tag: Supporting Tek4Kids

  • Bequests: Another Way to Support Tek4Kids

    Bequests: Another Way to Support Tek4Kids

    Through various types of bequests to Tek4Kids, you may secure a charitable estate-tax deduction for the value of the gift. Best of all, you will know that your generosity will support Tek4Kids’ mission for years to come.

    You may prefer to state in your will or trust a sum of money or a percentage of your estate that you wish to give to Tek4Kids.

    Whatever form of bequest you choose, it is not subject to federal estate taxes and so significantly reduces the tax burden of an estate. The value of the bequest may be deducted when the taxable estate is determined, and there is no limit to the deduction.

    How It Works

    1. You include a bequest provision in your will or revocable trust.
    2. At your death, Tek4Kids receives the bequest you specified.

    Benefits

    • You may change your bequest or trust designation at any time
    • You control the funding property during your lifetime
    • Your bequest or trust designation will not be subject to any potential federal estate tax
    • You provide future support for Tek4Kids by making a transformational gift

    Gifts of Retirement Assets

    You can make a gift to Tek4Kids through your estate by naming Tek4Kids as a beneficiary of a qualified retirement plan account, such as an IRA, 401(k), 403(b), Keogh or similar account. Upon your death, all or a portion of the unused balance in your account is transferred to Tek4Kids as a charitable gift.

    Retirement plan assets are among the best assets to use for charitable gifts because if these assets are left to your heirs, they could eventually be taxed at 50% or 60%.

    Other benefits include:

    • Your estate benefits from a charitable deduction on the full amount given to charity
    • Charitable designations are free from all federal income and estate tax
    • These gifts are considered non-probate assets
    • The process of naming Tek4Kids as beneficiary is simple with no legal counsel needed

    You can name Tek4Kids as a beneficiary of your plan by contacting your plan administrator who will provide you with a form to designate Tek4Kids as a primary or contingent beneficiary of your account, and the amount or percentage of assets that you wish to give. If you are married, they may also ask you for the consent of your spouse.

    Gifts of Life Insurance

    If your goal is to make a gift to Tek4Kids at no cost and also to enjoy tax savings, a gift of life insurance is an option.

    If you:

    • no longer have use for your paid-up life insurance policy
    • wish to donate an existing policy
    • wish to create a new policy

    You can use it to make a charitable gift to Tek4Kids by designating Tek4Kids as beneficiary to your life insurance policy or giving the policy to the Tek4Kids outright. Either option may offer substantial tax savings.

    How It Works

    • Paid-up Insurance Policy – You can make an outright gift to Tek4Kids of a paid-up policy. Tek4Kids can accept the cash value of the policy or we can keep the policy until its death benefit is realized. You can receive a deduction equaling the cost of a replacement policy. This is based on a one-life policy based on your current age.
    • Existing Insurance Policy – You can maintain your current policy and continue to pay the premiums. You name Tek4Kids as the owner and primary beneficiary under the policy. You will receive an income tax deduction on the total of the premiums already paid or for the fair market value of the policy, whichever has the lesser value.
    • New Insurance Policy – You can create a new policy naming Tek4Kids as owner and beneficiary of the policy.

    This vehicle is especially attractive and manageable for younger donors who want to assist Tek4Kids. When you purchase this new policy and donate it as a gift to Tek4Kids as the owner, the premiums you pay are, as a rule, deductible on your federal income tax.

    Benefits

    Gifts made via insurance policies provide an excellent way for you to make a significant gift to Tek4Kids—a gift you may not otherwise be able to make at the time. Modest payments for policies are spread out over the years and will enable you to leave a significant bequest gift.

    Additional Options

    Gifts of insurance can also be leveraged for wealth replacement not only to protect your heirs, but it can enable you to make a significant charitable gift now.

    You can also use your company’s or Tek4Kids’s life insurance (part of your benefit package) by naming Tek4Kids as the beneficiary of the policy.

  • Supplying 676,000 Gallons of Purified Water, Tek4Kids Completes Project as Schools Reopen in Haiti

    Supplying 676,000 Gallons of Purified Water, Tek4Kids Completes Project as Schools Reopen in Haiti

    As the Covid-19 pandemic emerged in the United Sates and Haiti in late March, Tek4Kids responded immediately by providing free, purified water for hand washing and drinking in the community of Jeremie, Haiti using six distribution points, its partner schools that were forced to close due to the coronavirus outbreak.

    Four months and thousands of dollars later, Tek4Kids has wrapped up its water distribution project. Since its partner schools recently reopened, Tek4Kids could not continue using the schools’ facilities, space and infrastructure for water distribution, but resumed its primary mission to provide technology education for more than 2,000 students in Jeremie.

    From April 1 through August 7, Tek4Kids purified and distributed 676,000 gallons of free water to the residents of Jeremie. Recording nearly 156,000 visits to its distribution points, Tek4Kids purchased 315 truckloads of water to purify using its infrastructure already in place, which employs a chlorination system. Here’s how Tek4Kids’ water purification systems work. More than 30 Tek4Kids staff members managed the water distribution project.

    Since Tek4Kids did not charge residents for the water, its expenses were significant. If you would like to help us continue our mission to bridge the poverty gap and provide hope for a brighter future for students in Haiti through education and technology, please donate here.

  • A New Way to Support Tek4Kids!

    A New Way to Support Tek4Kids!

    Are you a Kroger’s shopper? If so, you can support Tek4Kids with each purchase you make! Simply enroll in the Kroger Community Rewards program and select Tek4Kids as the organization you want to support. Participants can enroll annually to keep supporting Tek4Kids year after year!

    Here are the simple steps to enroll:

    1. Create an account with Kroger.com or use the account you already have.
    2. Login to kroger.com/communityrewards.
    3. Click “I’m a Customer” on the Community Rewards page.
    4. Search for and select Tek4Kids or KM106, then click “Enroll.”
    5. You’re enrolled and every purchase you make will help Tek4Kids!

    We appreciate Kroger’s Community Rewards program and this opportunity to support Tek4Kids students in Haiti through technology education!