What is the difference between Wellstone Action and Wellstone Action Fund?
Gifts to Wellstone Action support our political leadership development programs and are not tax deductible.
Gifts to Wellstone Action Fund support our public leadership and civic engagement programs and are fully tax deductible.
How do I name Wellstone Action or Wellstone Action Fund as a beneficiary in my will?
You can use the following sample language:
I give and bequeath [choose one:] (the sum of ____ dollars) (description of specific property) (____percent of my residuary estate) to [choose one:] (Wellstone Action) (Wellstone Action Fund) with its principal office located at 2446 University Avenue West, Suite 170, Saint Paul, Minnesota, 55114 to be used for its general purpose.
How do I designate Wellstone Action or Wellstone Action Fund as beneficiaries of my retirement or life insurance benefits?
After deciding what percentage of the plan's value (0–100 percent) or what specific cash value you would like Wellstone Action or Wellstone Action Fund to receive, simply contact the administrator of your IRA, retirement plan, or life insurance policy for a ‘change of beneficiary’ form. Save yourself a hassle by asking your administrator if any special information will be needed to designate an organization as a beneficiary. Typically, you’ll just need our tax ID and address, but every company is different.
Once you receive the form, name Wellstone Action or Wellstone Action Fund as a beneficiary along with your chosen percentage or dollar amount, and return the form to the administrator of the plan.
Do Wellstone Action and Wellstone Action Fund accept stock gifts?
Yes! Wellstone Action and Wellstone Action Fund accept gifts of stock. If you have owned the stock for 12 months or more, gifts to Wellstone Action Fund can be beneficial in two ways: the full value of the stock at the date of sale is tax deductible and there is no obligation to pay capital gains taxes on the appreciated value.
Our stock account information is as follows:
RBC, DTC# 0235:
- Wellstone Action: 309-27848
- Wellstone Action Fund: 309-27847
Can I make a Charitable IRA Rollover to Wellstone?
Absolutely. If you’re a donor who’s 70½ or older, and you have either a traditional IRA or a Roth IRA, you probably know that you’re required to take distributions from your IRAs every year. Those distributions get included in your adjusted gross income and are subject to taxes.
One way to support Wellstone Action Fund is to make what’s called a “charitable IRA rollover.” Charitable IRA rollovers are really just gifts that you ask your IRA administrator to transfer directly from your traditional IRA or Roth IRA account to Wellstone Action Fund. The gift amount will not be counted as part of your adjusted gross income, but will count towards your required minimum distribution.
Two caveats: Just know that you cannot also receive a tax deduction for your rollover gift- that would be double-dipping! Also, gifts of this kind can only be transferred to Wellstone Action Fund- our 501(c)3 organization.
Questions about this? We recommend calling the administrator of your IRA or Roth IRA for more information.
What is Wellstone Action Fund’s tax ID number?
Our tax ID number is: 35-2191193
Are there any best practices to keep in mind?
We urge you to talk about this with your family and with a legal or financial advisor you trust.
How do I know you’ll use my donation wisely?
We’re proud to be rated a 3-star charity by Charity Navigator and certified by the Minnesota Charities Review Council. In order to earn these certifications, nonprofit organizations must prove they are accountable, transparent, and financially healthy. To learn more about what it takes to be rated a 3-star charity, click here
. To learn about the governance and board of Wellstone Action and Wellstone Action Fund, click here
. To view Wellstone Action and Wellstone Action Fund’s tax form 990 for the last three years, please click here