Ways to Donate
The Tailhook Educational Foundation
Ways to Donate To TEF
Donations to the Tailhook Educational Foundation (TEF) can be deductible as charitable contributions.
Please check with your financial advisor to verify your donation to TEF as a 501C3 non-profit organization is tax deductable.
The Hook to School Program
As part of our ongoing educational program, we send nearly 1000 quarterly copies of the “The Hook” magazine to High schools and colleges throughout the United States and all over the world. Many of these magazines go to NROTC, NJROTC units or Service Academies. The magazines and the postage to mail them are paid for by your Tailhook Educational Foundation (TEF).
Recurring donation to the Tailhook Educational Foundation
With the GiveDirect credit card processing, a low 4% service fee is taken on your Credit Card donation. Your Tailhook Educational Foundation receives the other 96% of your gift. You can also opt to pay the service fee yourself.
The HOOK A SCHOLAR button allows members to make automatic recurring donations. Be sure to select the “recurring donation” option under Donation Preferences.
A Tax-Saving Way to Help the Tailhook Educational Foundation
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as our Foundation. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
The maximum annual amount that can qualify for a QCD is $100,000 and you must be 70½ or older to be eligible to make a QCD.
While many IRAs are eligible for QCD's - Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* – there are requirements:
You must be 70½ or older to be eligible to make a QCD.
QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
For a QCD to count towards your current year's RMD, the funds must come out of your IRA by your RMD deadline, generally December 31.
Bequests to TEF
There are many ways to use TEF’s Planned Giving Program. Donors can set aside bequests by naming a dollar amount or estate percentage intended for the TEF in your trust or will, or you can donate specific property/ stocks/ bonds/ IRA holdings also via your trust or will. Our TEF staff and financial planner are happy to discuss the myriad of options available for you include TEF in your estate planning. Please do not hesitate to contact us if you have any questions about our planned giving program.