There are many ways you can support the TMS Foundation that will allow you to give back to the professional society that has had such an important impact on your career. Your support will also ensure strong leadership in the minerals, metals, and materials professions for generations to come.
Explore our smart giving vehicles to learn how you can unlock tax benefits to maximize your impact. We always recommend that you work with a financial advisor to find what options work best for you.
If you have already made a legacy gift to TMS Foundation, thank you! Please let us know by completing this gift intention form which will help us understand your goals and keep you connected to the impact of your gift.
Download our free guide on smart ways to give by creating a legacy gift to TMS Foundation here.
If you have questions or need more information about legacy giving, please contact please e-mail TMS Foundation staff or call 1-724-776-9000.
Including A Gift in Your Will
Many TMS members who are looking for a smart, taxwise way to make a gift to the TMS Foundation choose to include a gift in their will. A gift in your will enables you to demonstrate your commitment to the next generation of materials scientists and engineers without impacting your current income.
There are many wonderful reasons to leave a gift to the TMS Foundation in your will:
- It allows you to give back to the field
- It costs you nothing now
- You create a lasting legacy
Ready to get started? If you already have a will, it is not necessary to rewrite it to make a gift to the TMS Foundation. You can simply instruct your attorney to prepare a codicil, or amendment, to your current documents.
Click here for sample language to include in your will or codicil that you can share with your attorney or professional advisor.
Not sure where to start? E-mail TMS Foundation staff or call 1-724-776-9000 to learn more about options for including the TMS Foundation in your will, trust, or estate plan.
Gifts of Beneficiary Designations
Not everyone wants to commit to making a gift in their will. Some TMS members prefer the increased flexibility that a beneficiary designation provides.
You can designate the TMS Foundation as a beneficiary of all or part of your retirement plan assets, insurance policies, and even your donor advised fund by completing a form from your account provider, which is separate from your will or trust. Not only is it an easy way to give, but it is also flexible—you can review and adjust your beneficiary designations at any time.
Individual Retirement Accounts (IRAs) and qualified retirement plans, like a 401(k), are some of the smartest assets to leave to charity. TMS members are often surprised to learn that the retirement fund assets they hoped to pass to their heirs are among the most heavily taxed in their estates.
Designating the TMS Foundation as a beneficiary or contingent beneficiary of all or a specified percentage of your 401(k) or other retirement plan assets, is a smart, taxwise way to give.
Life insurance offers another option if you are looking for a way to make a bigger gift than possible during your lifetime. Consider designating the TMS Foundation as the owner and/or the beneficiary of a life insurance policy —either a new policy or an existing one that you and your family no longer need.
A donor advised fund with your local community foundation or sponsoring organization provides another smart giving opportunity. You can both recommend grants to the TMS Foundation and name the TMS Foundation as beneficiary to receive all or part of the fund after your lifetime.
If you have questions about how to make your gift of a beneficiary designation to the TMS Foundation, e-mail TMS Foundation staff or call 1-724-776-9000.
Using Your Retirement Fund to Make a Tax-free Gift Today
If you are over age 70 ½, there is a better way to make a gift to the TMS Foundation by using your retirement fund. Making a gift through a qualified charitable distribution (QCD) from your individual retirement account (IRA) is a smart way to help create opportunities for students and professionals as they develop their careers in the minerals, metals, and materials fields.
Beginning at age 73, retirement account holders are required to make annual withdrawals from their IRAs, known as required minimum distributions (RMDs). Those assets are then considered income and are taxable for Federal income tax purposes. A qualified charitable distribution from your IRA can satisfy your minimum distribution requirement while avoiding any increased taxes.
TMS members can choose to gift their RMD amount, or any amount up to $100,000 ($200,000 if married) annually by instructing their account administrator to make a transfer to the TMS Foundation.
If you’re at least 59 ½ years old, you can take a distribution from your IRA without penalty and use it to make a gift to the TMS Foundation. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
Contact TMS Foundation staff via e-mail or call 1-724-776-9000 to discuss how you can use your IRA or other retirement asset to support the TMS Foundation’s work helping students and young professionals with meaningful financial assistance and impactful career-building experiences.
This is not intended to be legal or tax advice. We recommend that you consult your own legal or tax advisors before making any decisions about a gift to the TMS Foundation.
1871 Legacy Circle
The 1871 Legacy Circle recognizes individuals who have provided a legacy gift to the TMS Foundation. The name reflects the heritage of TMS: the American Institute for Mining, Metallurgical, and Petroleum Engineers (AIME), TMS’s antecedent organization, which was established in 1871.
Let us recognize your lasting impact on the TMS Foundation, join the 1871 Legacy Circle by completing this gift intention form.
To learn more about the benefits of being a Circle member, visit our 1871 Legacy Circle page. If you are interested making a legacy gift to the TMS Foundation, please e-mail TMS Foundation staff or call 1-724-776-9000.
Please consult a legal or tax advisor to understand the best legacy plan for your personal situation
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