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My condolences on your loss. My Mother-In-Law passed away from dementia last year. I fully understand.

For 2020 only, we can itemize this and other charitable contributions up to 100% of our adjusted gross income (AGI).

My condolences on your loss. My Mother-In-Law passed away from dementia last year. I fully understand.

For CASH donations.

I don't know your ages, so this may not work. Have you considered a QCD from the inherited traditional IRA to fund the endowment?

As long as the inherited stock was "hers" and not in an irrevocable trust, the inherited stock has a stepped-up basis. If you have appreciated stock, it might be to your advantage to use it for part of the endowment. The annual deduction is limited to 30% of AGI.

You will likely receive a K-1 for income that was received during the year before distribution occurs.
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