Giving Options

Mankind has always been endowed with a charitable spirit. But no society has embraced philantropy more than our own. With each generation, people all over the world establish new plateaus by which the generous spirit is measured. There is an understanding that giving is both a reflection of the best parts of who we are and the key to the most important work we will accomplish by working together.

Tax laws in many countries around the world encourage the support of charitable organizations and provide tax benefits that make it possible for the philantropic spirit to be expressed through many forms of giving.

Charitable Remainder Trust

Perhaps the most versatile charitable giving tool. With the CRT, it is possible to bypass capital gains tax on the sale of highly apprecxiated assets, generate an increase in income, receive a charitable income tax deduction and fulfill your philantropic objectives.

The CRT is a legal trust that can be constructed to produce a predictable annuity payment each year or take advantage of investment growth opportunities in the trust principal.

Charitable Requests

Next to writing a check, perhaps the best known vehicle for philantropy is the bequest. A bequest establishes your wishes today without relinquishing needed assets during your lifetime. Bequests can transfer a specific asset. You can also give a percent of the estate after costs and taxes. Another good idea is to transfer property to a tesaimentary trust. If you would like more information on the strategies discussed here or other gift planning options, we invite you to contact us.

 

Current Gifts

The most common way to make an immediate gift is by writing a check. This type of cash gift provides immediate liquidity for charity and generates a charitable income tax deduction for the donor in the year of the gift.

Giving stocks or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.

A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.

 

Planned Gifts

The term planned gifts refers to specific strategies that (in most cased) benefit charity at some point in the future while offering immediate benefits to the donor. The gift of a paid-up life insurance policy is a good example. By designating a qualified charity as owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.

 

Gifts That Generate Income For You

The Gift Annuity is a great example of how a gift generates income for the donor. This is actually a contract between a donor and a charity that is part gift and part annuity. In addition to the annuity payment, the donor receives a charitable income tax deduction and a portion of each annuity payment may be tax-free.

The Deferred Payment Gift Annuity in which annuity payments are delayed for a number of years offers rates that make it an attractive supplement to retirement income.

For more information, please contact us at donations@christlovemin.org

 

 

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