Ways to Give to the
Bermuda Race Foundation
Giving to the Bermuda Race Foundation
The Bermuda Race Foundation relies on the generosity of sailors, supporters, and friends like you to sustain and expand our mission. Your contribution—whether large or small—helps strengthen safety at sea, youth sailing, community outreach, offshore racing and the future of the Newport Bermuda Race. Below are several convenient ways to give. The Bermuda Race Foundation, Inc. is a not-for-profit 501(c)(3) public charity. All Donations to the Bermuda Race Foundation are tax-deductible. Bermuda Race Foundation Tax ID: 86-1989934
For assistance with any type of contribution or to discuss a planned gift, please contact:
Jeff Eberle, Director of Development: [email protected]
Give Online.
Send a Check
Please send a check to the address below to complete your donation; an acknowledgment letter will be mailed to you. Please also send an email [email protected] as well so we can be on the lookout for it and do reach out with any questions.
Bermuda Race Foundation Inc.
449 Thames Street
Unit 331
Newport, RI 02840
IRA Qualified Charitable Contributions
The IRA Qualified Charitable Distribution (QCD) is a terrific way to make a tax-free gift to the Bermuda Race Foundation Inc.. A donation given directly from your IRA to the Bermuda Race Foundation is not considered federally taxable income for you, but it does count toward your required minimum distribution.
Do I qualify?
- If you are 70 ½ years or over at the time of the gift, yes.
- If your gift is sent directly from your IRA to the Bermuda Race Foundation Inc., yes.
- If your gift comes from a traditional IRA or Roth IRA account, yes.
- If your gift does not exceed $108,000 ($216,000 for a couple) annually,yes.
Benefits:
- Counts toward your Required Minimum Distribution (RMD)
- May reduce your taxable income
- Simple process handled through your IRA custodian
To initiate a gift:
Ask your IRA administrator to make the distribution payable to the Bermuda Race Foundation and send to:
Bermuda Race Foundation Inc.
449 Thames Street, Unit 331
Newport, RI 02840
Federal Tax Identification Number: 86-1989934
It’s easy to set up. Just send a letter to your IRA administrator to make your gift. To comply with IRS regulations and ensure that your gift meets QCD requirements, please direct it to the Bermuda Race Foundation Inc.
Please notify us at [email protected] of your incoming IRA gift so we can properly acknowledge it, and to learn more about IRA Gifts.
Donor-Advised Funds (DAFs)
Support the Bermuda Race Foundation through your Donor-Advised Fund.
How to give through a DAF:
- Contact [email protected] to inform us with:
- Full name of the donor
- Full name of granting fund
- Donation amount
- Name and telephone number of your financial institution advisor
- Bermuda Race Foundation Tax ID: 86-1989934
Gifts of Securities (Stocks & Mutual Funds)
Donating appreciated securities can be a tax-efficient way to support the Foundation.
Benefits:
- Potentially avoid capital gains tax
- May receive a charitable deduction for the fair market value
- Simple electronic transfer process
- Stock gifts may also come directly from an IRA
To make a gift of stock, please contact:
Contact [email protected] to inform us with:
- Full name of the donor
- Name and telephone number of your broker
The gift is complete when the stock is transferred to the Bermuda Race Foundation account. An acknowledgment letter will be sent upon successful transfer. No goods or services are provided by the Bermuda Race Foundation.
Planned Giving & Legacy Gifts
By making a legacy gift to the Bermuda Race Foundation, or naming the Foundation as a beneficiary in your estate, IRA, or insurance policies, you are making a lasting commitment to the Newport Bermuda Race.
If you have already included the Bermuda Race Foundation in your estate plans, please let us know. Sharing your plan with us places you under no obligation and enables us to take the proper steps to thank you. All wishes for anonymity will be honored.
How do I include Bermuda Race Foundation in my estate plans?
- Add a codicil (amendment) to your existing will naming the Bermuda Race Foundation Inc. as a beneficiary of a specific amount or percentage of your estate.
- Name the Bermuda Race Foundation Inc. as a beneficiary of a portion of a retirement account.
- Designate the Bermuda Race Foundation Inc. as a beneficiary of an insurance policy or annuity.
- Appoint the Bermuda Race Foundation Inc. as a beneficiary of an existing charitable trust.
To learn more about gift planning please contact [email protected]
SUPPORTERS
