Golok Blue Valley Foundation has been approved as an exempt organization charity by the Internal Revenue Service under Section 501(c) (3). Leaving certain retirement plan amounts directly to an exempt organization can be a good planning strategy for some people.
Certain retirement plan (such as IRA’s, 401(k), and 403(b)) distributions are taxable income to the beneficiary who receives them. An exempt organization charity is not subject to income taxation, so any retirement plan benefits which the exempt organization receives as beneficiary on the plan participant’s death pass without income tax.
By skilfully structuring beneficiary designations, you can actually minimize income taxes resulting at your death, and increase the amounts which will go both to your family members and a charity. >more & examples (PDF format)