Leave a legacy of kindess

Making a Gift of Life Insurance

You can name the Handweavers Guild of America as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you.

When you make a gift of life insurance, the benefits from your policy pass to Handweavers Guild of America, free of federal estate tax, after your lifetime.

Getting your life insurance is simple and flexible

When you name the Handweavers Guild of America as the owner of your life insurance policy, you may be eligible for tax savings.

Giving the gift of your life insurance involves little effort or paperwork, comes with the financial advantage of continued ownership of your policy, and removes the asset from your potential gross taxable estate. You can change your mind and your beneficiaries at any time.

If you continue to make premium payments on a policy after donating it to Handweavers Guild of America, those payments are tax-deductible. Please note that the Handweavers Guild of America is not able to make premium payments from its own funds.

You may even want to consider a new life insurance policy. With payments that are low (and perhaps even automatic), you can create a gift capable of doing much greater good in the future.

Ways to give your life insurance

To make this gift, contact your insurance carrier and request a beneficiary form.

There are two ways that you can make a gift of life insurance to Handweavers Guild of America:

You may name the Handweavers Guild of America as a full, partial, or contingent beneficiary of any policy. Don’t forget employer-sponsored life insurance offered at no cost to you.

You may donate a life insurance policy that is no longer needed outright. The Handweavers Guild of America would have the option of either holding or surrendering the policy to receive the current cash value. You may donate a paid-up policy or one with ongoing premium payments.

For example, Joan bought a life insurance policy years ago that she now wants to donate to the Handweavers Guild of America. Since she gave the policy to us, Joan can claim an income tax charitable deduction. The total amount of the policy is removed from her estate, and we will use the gift to help to educate and support the fiber art community.

Ask your insurance provider for more details, or consult your legal or financial advisor to help you decide which option is best for you.

Making a gift through your retirement assets

A gift of your retirement assets from your IRA, 401(k), 403(b), pension, or other tax-deferred plan is an excellent way to support the fiber art community for years to come.

If you're like many people, you probably will not use all your retirement assets during your lifetime. Why not allocate the remainder to charity giving and help educate the fiber art community?

These gifts can include retirement accounts, such as a 401(k), 403(b), or IRA; health savings accounts; donor-advised funds; brokerage accounts; and other financial accounts, including CDs, money market, savings, and checking, that allow transfer on death (TOD) or payment on death (POD) designations.

You can make a difference through your financial accounts

One of the most flexible and inexpensive ways you can make a difference for the fiber art community is by designating Handweavers Guild of America as a beneficiary of your financial accounts.

Your pensions, retirement plans, or other financial accounts can be a practical way to support the fiber art community and may even provide tax benefits at the end of the year.

Typically, retirement plan balances are subject to both income and estate taxes. But because Handweavers Guild of America is a nonprofit organization, we won't pay income tax on the distribution, nor will the gift be subject to estate tax.

Your retirement assets may be transferred to Handweavers Guild of America by completing a beneficiary designation form provided by your plan custodian.

Making a beneficiary designation

Consult with your legal and financial advisors to ensure your plans benefit both the people and causes you care about in the most effective and strategic way.

You have several options for giving to the fiber art community. Through a simple beneficiary designation form, you can add the Handweavers Guild of America as a beneficiary of any percentage or amount you choose.

Another approach is to name the Handweavers Guild of America as a secondary or contingent beneficiary in case someone you’re providing for can’t claim their portion.

To name the Handweavers Guild of America on your beneficiary designation form, please use the following address:

Handweavers Guild of America

1201 Peachtree St. NE Ste. 200

Atlanta, GA 30361

Tax identification number: 06-0866181

Relationship: 501(c)(3) not-for-profit organization

Donating appreciated stock, bonds, or mutual funds

This is an impactful and easy way not only to support weaving and the fiber arts, but also to save on taxes.

By making a gift to the Handweavers Guild of America through your appreciated stock donation, you’ll not only support the fiber arts today, but you’ll also ensure a creative and connected community for generations of fiber artists to come.

Making a gift of your appreciated stocks, bonds, or mutual funds to the Handweavers Guild of America not only supports weaving and the fiber arts, it saves you money on taxes.

When you donate your appreciated stock, mutual funds, or bonds to the Handweavers Guild of America, we sell your gift and use the proceeds to support the fiber arts.

You avoid paying capital gains tax and may also be eligible for a charitable income tax deduction. Additionally, you can use your gift of appreciated stock, mutual funds, or bonds to support the fiber art community. Ask us about making a gift of appreciated securities to fund a charitable gift annuity.

As an example of how you and the fiber art community benefit*, the market value of a gift of $100,000 has a $68,500 cost to you when you factor in cost basis ($50,000), charitable deduction ($24,000**), and capital gains tax avoided ($7,500***).

*Figures may vary based on the income tax laws in your state.
**Calculation is based on a 24% federal income tax bracket.
***Calculation is based on a 15% long-term capital gains tax rate.

Making your gift of stocks, bonds, and mutual funds

Making a gift of your appreciated stocks, bonds, or mutual funds is easy with the help of your tax or financial professional.

As always, we recommend consulting your tax or financial professional for advice before making charitable donations. You can print and bring this stock gift fact sheet to your consultation. The first step in making a gift of this type is to provide you with the following securities transfer information*:

DTC code: 0015
Account number: 574-048319
Account name: Handweavers Guild of America, Inc.
HGA EIN: 06-0866181
Receiving institution: Morgan Stanley**

*When you make a gift to Handweavers Guild of America by transferring stocks into our account, we do not receive any information that identifies you as the donor. To ensure that you receive a proper tax acknowledgement for your gift, please notify us. You can reach us by emailing HGA@WeaveSpinDye.org or by calling 678-730-0010.

**Morgan Stanley is a financial intermediary whose name might appear in any transactions.

Making a Qualified Charitable Distribution

This planned giving option enables you to make a gift to the fiber art community without it being considered taxable income.

A qualified charitable distribution is a fantastic option for people 70 ½ and older. That's because it allows you to make a gift to the fiber art community — from $100 to $105,000 — without the distribution counting as taxable income.

This giving option involves a direct contribution made from your traditional or Roth IRA to a public charity, such as the Handweavers Guild of America. It is an excellent option if you typically do not itemize your charitable deductions.

Gifts through your qualified charitable distribution are a flexible way to give

Your contribution to Handweavers Guild of America through your qualified charitable distribution saves lives and comes with great benefits for you.

A qualified charitable distribution may be used as a convenient, tax-free way to make gifts up to $105,000* per year to Handweavers Guild of America or other qualified charitable organizations, while satisfying IRA required minimum distributions.

Those with significant assets in an IRA or those who don't deduct charitable gifts benefit the most from a qualified charitable distribution. Qualified charitable distributions count toward required minimum distributions.

Your qualified charitable distribution may be used as a convenient, tax-free way to make gifts up to $105,000 per year to Handweavers Guild of America or other qualified charitable organizations, while satisfying IRA required minimum distributions.

Every gift, no matter how large or small, helps support the fiber art community. When you make a contribution to Handweavers Guild of America through a qualified charitable distribution, you'll be supporting inspiring and educational programs and more.

Making a gift through your qualified charitable distribution

Interested in making a gift through your qualified charitable distribution? Our team is here to help.

Please talk with your tax adviser or other financial professionals to determine whether a qualified charitable distribution could benefit you.

Here are some key features of a qualified charitable distribution:

• You must be at least 70 ½ years old.
• You may transfer up to $105,000* per year directly from your traditional or Roth IRA to Handweavers Guild of America or other qualified charitable organizations.
• Married couples can gift up to $105,000* per person, per year, from their IRA if each meets the requirements above. Other gift limitations apply; please contact us for details.
• You may not receive any goods or services in return for your gift.
• You may use your qualified charitable distribution to fund a life income gift, such as a charitable gift annuity.
• New legislation effective in 2023 makes it possible to use qualified charitable distributions to fund life-income gifts like charitable gift annuities and charitable remainder trusts.

* For gifts made in 2024. Maximum gift limits are scheduled to increase in coming years.

Information you’ll need to complete a qualified charitable distribution:

Legal name: Handweavers Guild of America, Inc.
Tax ID number: 06-0866181
Address: 1201 Peachtree St. NE Ste. 200, Atlanta, GA 30361

Please notify us when you request a qualified charitable distribution so that your gift can be matched to you when it arrives. It is helpful to let us know the financial institution that will be issuing the check and a contribution amount. Many financial institutions do not include the donor name on the check.

Consult with your tax adviser or other financial professional to determine whether a qualified charitable distribution could benefit you. You can print and bring this fact sheet to your consultation.

For more information about making a qualified charitable distribution to Handweavers Guild of America, please contact a member of our staff at 678-730-0010 or HGA@WeaveSpinDye.org.

Making a gift through your Will

Making a gift to Handweavers Guild of America through your will or revocable living trust is a simple and flexible way to support the fiber art community for years to come.

By preparing your will or revocable trust now — either through a specific gift or contingent gift — you can enjoy peace of mind, knowing that you have taken care of those you love and the causes that are important to you.

Your will or trust is a flexible way to give

Just a simple provision in your will or revocable trust provides for the fiber art community who need your support.

Gifting through your will or trust allows you the flexibility of specifying a dollar amount or a particular asset, such as real estate or stock. It also allows you to donate either a percentage or remainder of your estate.

You can put your gift to work immediately. And if at some future date your circumstances should change to where your gift to us may no longer be possible, you can change your mind at any time.

Ways to give through your will or trust

First check with your legal and financial advisors to ensure your plans benefit both the people and the causes you care about in the most strategic way possible.

There are several ways you can make a gift through your will or trust to suit your goals, including a specific gift and a contingent gift

Specific gift

You describe exactly what kind of gift you want to leave to a specific individual or organization and the designated source. If you want to leave a specific dollar amount from a specific source or a particular item, this is the type of bequest you would use. Here’s an example: Jean states in her will: “I leave my yarn collection to my grandson, Greg. I leave my beach house to my daughter, Maria. I leave my securities to Handweavers Guild of America.”

Contingent gift

This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent bequest. Here’s an example: Robert states in his will: “I give all the rest, residue, and remainder of my real and personal estate to my wife, Susan, if she survives me; if not, then I give 50% in equal shares to my children who survive me and 50% to Handweavers Guild of America.”

For your convenience, we’ve provided some suggested language below that you could use in your will or trust. Please feel free to adapt this language with your attorney to fit your individual situation. Suggested language: “I give to Handweavers Guild of America, Inc., a Georgia corporation with its principal offices at 1201 Peachtree St NE Ste 200, Atlanta, GA 30361, (the sum of $_____) (all or _____% of my residual estate) to be used for its general purposes.” Handweavers Guild of America is a charitable organization located in Atlanta, Georgia, and exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. Tax identification number: 06-0866181