How You Can Keep Madison’s Parks Flourishing
As a tax-exempt nonprofit organization, the Madison Parks Foundation receives 100% of your designated gift from your retirement plan, life insurance policy, or estate—helping your generosity go even further.
There are several simple ways to make a meaningful impact. Use the tabs to the right to see what works for your family.
When making your beneficiary designation, use the following legal name: Madison Parks Foundation, Inc., Tax ID: 33-1047992.
Your retirement plan can be a powerful tool for preserving Madison’s parks. Because retirement accounts are often subject to income tax when passed to heirs, naming the Madison Parks Foundation as a beneficiary can help reduce that tax burden while supporting a cause you love.
How it works:
Money in an IRA, 401(k), or tax-sheltered annuity has not yet been taxed. When left to an individual, the recipient may owe income tax on the distribution. However, when those same assets are directed to a qualified nonprofit, such as MPF, the full value of your gift goes directly to support our mission.Designating the Madison Parks Foundation as a beneficiary of your retirement plan or life insurance policy is an easy way to create a legacy gift.
You can:
-
Name MPF as the primary beneficiary for a specific amount or percentage.
-
Name MPF as a contingent beneficiary so your gift is made only if your primary beneficiary does not survive you.
To set this up, simply contact your plan administrator for the appropriate beneficiary form.
-
If you are age 70½ or older, you can make a direct gift of up to $100,000 per year from your IRA to the Madison Parks Foundation—without paying income taxes on the distribution.
This Qualified Charitable Distribution (QCD) counts toward your required minimum distribution (RMD) and provides an immediate, tax-free way to make a difference in Madison’s parks today.
A bequest through your will or living trust is one of the most meaningful ways to ensure your legacy endures.
You can designate the Madison Parks Foundation to receive:
-
A specific dollar amount
-
A percentage of your estate
-
Or other assets of your choosing
Your estate may also qualify for a charitable estate tax deduction equal to the full value of your gift.
-
Plan a Legacy Gift
For more than 125 years, bold visionaries have transformed Madison into a city of extraordinary parks. Join this inspiring legacy by naming the Madison Parks Foundation in your estate plans, and you'll ensure that children playing in our green spaces, families gathering for concerts, and neighbors exploring nature trails continue to experience the magic of world-class parks for generations to come.