Thinking about holiday gifts… planning for taxes?


Kelly Murray, CWPV Foundation Treasurer

Can you believe that Hanukkah, Christmas and the New Year are nearly here? Well, the Cottonwood Palo Verde Foundation may be able to help you with some gifting and tax planning ideas!

Monetary gifts to the CWPV Foundation, a 501(c)(3) charitable organization, help many of your Sun Lakes neighbors, of course. They may also benefit the bottom line on your own taxes!

As an example, consider the Required Minimum Distribution (RMD) from your Traditional IRA. A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as the CWPV Foundation. In addition to the benefits of giving to the Foundation, a QCD excludes the amount donated from your taxable income! A donation of this kind, up to $100,000, can be made at any time during the tax year. QCDs don’t require that you itemize. That means, due to the recent tax law changes, you may take advantage of the Higher Standard Deduction and still use a QCD for charitable giving.

The CWPV Foundation can also be named as the beneficiary of an IRA. This allows the charity to receive the full value of the IRA without income tax consequences to the estate or the heirs!

Other types of gifts that can be accepted by the CWPV Foundation include: Checks, Securities, Life Insurance Policies, POD Bank Accounts, TOD Brokerage Accounts and Bequests from Wills.

The CWPV Foundation exists to enhance the lives of the mature population of Sun Lakes and the East Valley. It collects money through fund-raising events and donations. The CWPV Foundation then awards grants to support clubs and organizations that contribute to the health, education or culture of our older population.

Our most recent grant recipient is The Crystal Card Project. The all-volunteer group, from multiple Sun Lakes communities, takes used greeting cards and remakes them into beautiful new cards which they sell for only $1. The proceeds from their card sales are then donated to other needy charities such as domestic violence shelters. The CWPV Foundation’s grant to The Crystal Card Project will help underwrite the cost of their supplies and equipment.

You can view a list of the CWPV Foundation’s other grant recipients and download a Grant Application for your own qualifying non-profit organization from our website,

Thanks to the invitation from Karen Dimitro, Iron-Oaks Events Manager, our 50-50 Fundraising Raffles have now expanded to select Oakwood Billboard Concerts! We held our first 50-50 Raffle at Oakwood on November 8 and will be there again on December 13 for the “Eagles” concert.

The CWPV Foundation’s 50-50 Raffles will continue in Cottonwood’s San Tan Ballroom on December 4 for the “So, This Is Christmas” show and in January for “Nashville Gold” on the 8th, for “Elvis” on the 22nd and for “Mark Preston” on the 29th.

Happy Holidays and Many Thanks for your continued support of your Cottonwood Palo Verde Foundation!