Rohingya Refugees Receive 160,080 Meals in Ramadan

COX’S BAZAR, BANGLADESH, May 5, 2021 — Baitulmaal, a Dallas-based international humanitarian relief agency, recently delivered food staples to provide 160,080 meals to Rohingya refugees living in Bangladesh.

Around 667 Rohingya families were provided food packages at a distribution point in Cox’s Bazar. The food packages contained items such as rice, sugar, flour, lentils, potatoes, onions, carrots and oil, and were distributed for the Ramadan season, a time marked by fasting, charity and worship.

Considered “the most persecuted people in the world” by the United Nations, Rohingya fled their native Rakhine State of Myanmar to seek refuge at camp settlements in the hills of Bangladesh. Enduring discrimination and extreme poverty for decades, Rohingya now face monsoons, cholera outbreaks and rampant camp-fires in overcrowded blocks. Approximately 720,000 Rohingya live in various registered and makeshift camps in Bangladesh, and 80% of them are women and children, according to the UN.

Baitulmaal provides food, water, and other aid to Rohingya refugees, most recently responding to the devastating campfire that killed 15, injured hundreds, and displaced thousands. If you would like to learn more or contribute to these programs at Baitulmaal, please visit their website at baitulmaal.org.

Baitulmaal is an international humanitarian aid organization that provides life-saving, life-sustaining and life-enriching aid to people in need around the world. With headquarters in Dallas, Texas, the charity has offices in: Los Angeles, California; Chicago, Illinois; Detroit, Michigan; Nairobi, Kenya; Mogadishu, Somalia; Amman and Al Ramtha, Jordan; and Karachi, Pakistan.

 

 

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Life Estate Reserved

You could want to give your house or other property to Becca when you pass away, but you might also want to take a charitable income tax deduction now. You might find the answer you need in a life estate reserved!

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   Get a federal income tax deduction for the value of your home’s or farm’s remaining interest.

   Maintain lifetime control and use of your house or property.

   Make a life estate that is built on multiple lives. This will ensure that you and a loved one, such as your spouse or kid, can continue to utilize the property.

How does it work?

   You give Becca your house or another piece of property. You and any other life estate party listed in the deed will be granted the right to utilize your home or farm for the remainder of your lives, according to a clause in the deed.

  You and Becca sign a maintenance, insurance, and taxes (MIT) agreement outlining your respective responsibilities for upholding the property’s condition, property insurance, and property taxes.

  Your house or farm will be Becca’s after the life estate owners pass away. The property will be put to use or sold to support our philanthropic endeavors.

Give it Twice - Support Family and Charity

You can give Becca a gift while still making wealth for your children. Because you can utilize this type of unitrust to pay income first to your family for a number of years and then send the remaining trust funds to charity, we refer to it as a “Give It Twice.”

Advantages

   Use the whole value of your unused retirement account to pay your surviving spouse an income and to pay your children or other loved ones an income for a set amount of time.

   Create savings from the charity gift and an estate tax deduction.

   Encourage Becca to continue doing valuable philanthropic work.

How does it work?

   We are able to support you and your lawyer during the establishment of a charitable remainder unitrust.

   You fill out a beneficiary designation form for an IRA or other retirement account, designating the charitable trust as the beneficiary, and deliver it back to the account custodian.

   Your retirement account will be transferred to the charity trust by the custodian after your death.

   Your spouse, children, or other individual beneficiaries will receive income payments from the trust throughout their lifetimes, the period of their terms, or both.

   The trust’s remaining funds will be given to Becca once the payments are done.

Beneficiary Designation Gift

It is an easy and inexpensive way to contribute to help Becca. You can name us as the beneficiary of your life insurance policy, retirement account, investment account, or bank account.

Advantages

   Use your account as long as you need to continue.

   Obtain a charitable estate tax deduction.

   Streamline your preparations to save money on costly legal charges.

   Support the causes that are important to you.

   Reduce your family’s tax liability.

How does it work?

   Request a new beneficiary designation form to be sent to you.

   If you need assistance with your account or insurance policy, get in touch with your broker, banker, or insurance agent.

   Fill out the form, put your signature on it, then mail it to your broker, banker, or agent.

   Your account or insurance policy will be paid to or transferred to Becca in accordance with the beneficiary arrangement when you pass away.

IRA Rollover

A perpetual IRA charitable rollover has been established by Congress. Consequently, you are able to make an IRA rollover gift this year and in the future.

Advantages

   Avoid taxes on transfers from your IRA to our organization of up to $100,000.

   Make a donation that is exempt from the charitable contribution deduction cap.

   Contribute to advancing the objectives of our organization.

How does an IRA rollover work?

  To donate money from your IRA to us, get in touch with the administrator of your plan.

  Your IRA gift will be transferred directly to our organization to support the continuation of our work.

  Please be aware that charity rollover gifts from IRAs are not tax deductible.

Restricted Bequests

Please let us know if you are thinking about leaving a bequest but want to be sure that it is used for the intended purpose. We would be pleased to collaborate with you and your attorney to find charitable giving opportunities and assist you achieve your charitable goals.

We will also collaborate with your lawyer to draft the appropriate language to achieve your objectives. If you are leaving a restricted bequest, we advise that your lawyer include the following clause to give Becca flexibility should it no longer be possible for us to use your gift as you originally intended.

The Board of Directors of Becca may use the income and principal of this gift for whatever purpose or purposes it deems to be most closely related to the restricted purpose of my bequest if, in the Board’s opinion, it becomes impossible for Becca to use it to accomplish the restricted purposes of this bequest.

Bequest Language

You should consult with your attorney before making a bequest. Your attorney can assist you in incorporating a bequest to Becca into your estate plan. To assist you and your attorney, we have provided some basic bequest language.

1. Specific Bequest:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, for Becca’s general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, for Becca’s general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, for Becca’s general use and purpose.

2. Percentage Bequest

We advise using the following statement if you are thinking about leaving Becca a percentage of your estate:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, for Becca’s general use and purpose.

3. Residual Bequest

I hereby give, devise and bequeath to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Becca’s general use and purpose.

4. Contingent Bequest

I hereby give, devise and bequeath to Becca, a nonprofit organization located at 2300 Valley View Lane, Suite 375, Irving, TX, 75062 and Federal Tax ID #_________________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Becca’s general use and purpose.

Information About Will

Types of Bequests

There are a number of ways you can make a bequest to Becca.

1. Specific Bequest:

Specific bequests are made with a specifically decided asset, property or cash. For example, a specific bequest of real estate would be someone’s own home, their car, or $20,000 cash.

2. Percentage Bequest:

Percentage bequest is another type of specific bequest where a person plans on leaving a specific percentage of their asset or estate to Becca. A good example is a person leaving 20% of his estate to Becca.

3. Residual Bequest:

Specific bequests are made with a specifically decided asset, property or cash. For example, a specific bequest of real estate would be someone’s own home, their car, or $20,000 cash.

4. Contingent Bequest:

Conditional bequests are made for charitable purposes only if the purpose of the main bequest cannot be achieved. For example, you may bequeath a certain property to relatives but if that relative is no longer alive, the bequeathed property will then go to Becca.

Bequests

Bequests are one of the most common and easiest ways donors can choose to support a particular cause. This type of gift can be made according to your will or trust. It gives donors room to be flexible with their donations.

Bequests can be beneficial for a number of reasons. Some of them are;

   Donors can benefit from estate tax savings with bequests.

   Lasting legacy is established.

   The assets utilized to make the gift remain the same or grow during the donor’s lifetime.

How does it work?

One of the simplest gifts to make is a bequest. You can make a bequest via a beneficiary designation form, or with the assistance of an attorney, you can put language in your will or trust specifying a donation to be made to family, friends, or Becca as part of your estate plan.

This Includes:

   Include a bequest to Becca in your will or trust

   Designate Becca as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)

   Name Becca as a beneficiary of your life insurance policy

There are various ways to leave a bequest:

   Make a gift of a portion of your estate using the percentage bequest method.

   Make a gift of a specific asset or money amount with a specific bequest.

   Make a donation from the remaining portion of your estate, called the residual bequest.

Process of Donor Advised Funds

   The first step towards initiating a DAF starts with you making an irreversible donation to facilitate a DAF at Becca. This gift can be in the form of cash or stock.

   The assets from the DAF you contributed for, start to grow without any tax liabilities.

   Donors can make yearly recommendations on the gifts to be made from the respective DAF.

   After the donor passes away, the process can be continued by the donor’s children.

Gifts allow us to build and rebuild schools around the world, provide books, and uniforms to children and equip those buildings with furniture. Many students face an unfortunate financial crisis during their educational life which makes it difficult for them to carry on with their studies. Hence, by providing them with the emergency financial help they won’t face these hardships.

We believe that financial issues faced by many families should not be the reason for someone to stop proceeding in life and achieving what they want and deserve. Hence, BECCA offers a family support program to those in need.

We strengthen the capacity of Baitulmaal which plays a vital role in providing humanitarian aid around the world. Fund implementation or expansion of proven approaches to significantly strengthen communities and support the culture around the world for a better tomorrow. We also work to fund emerging opportunities or innovative approaches with the potential for broad impact.

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