|
|
 |
|
 |
|
|
An outright gift is the gift of cash, check, credit, or title transfer of an asset to a charitable organization. The organization can use the gift immediately, and the donor receives a current income tax deduction for the gift.
- No limit to the size of gift.
- The gift is tax deductible, within certain limits, up to 50% of your adjusted gross income.
- The assets are removed from your taxable estate.
- There is no retained interest in your gift.
A gift of life insurance is an effective way to give, especially if you would like to be able to donate more than you currently have available to give. At your death, the insurance goes directly to the charitable organization that you have designated as its beneficiary, which generally results in a substantially larger future in exchange for the premiums you paid on the policy.
- A gift of insurance can significantly increase the value of the gift.
- Premiums are generally tax deductible.
- There is no retained interest in your gift.
 |
| Examples of CGA Rates |
| Donor Age |
|
Annuity Rate |
| 65 |
|
6.0% |
| 75 |
|
7.0% |
| 85 |
|
9.4% |
| 90 plus |
|
11.3% |
|
 |
A charitable gift annuity is a contractual agreement between you and the charity of your choosing. You make a gift of cash or securities to the organization, and that gift can provide you with a guaranteed annual income for the remainder of you (and your spouse's) life.
- A CGA provides an income tax deduction for the year of the donation.
- It guarantees an annual income for the rest of you and your spouse's lives, part of which is federal income tax-free.
- Income payments may be deferred.
- You may be able to reduce your capital gains tax by using long-term appreciated securities to make your gift.
- Assets are transferred from your estate for federal estate tax purposes.
Providing for charitable gifts in a will is one of the most common and significant ways to give. There are a variety of ways to make a gift in a will.
- Give a gift of cash. A specific sum can be given if your assets are in another form, such as stocks, bonds or life insurance. The non-cash assets would be liquidated and the cash distributed.
- Give a specific item of property - a named asset such as a farm, piano or an issue of securities is easily given through your will.
- Give a percentage of your estate. For example, one might wish to give a tithe of their estate to the charities of their choice.
- Give the remainder. You may wish to direct that the charitable organization of your choice receive what is left after other loved ones you've provided for are taken care of.
Other options for giving include Life Estate, Charitable Remainder Unitrust and Charitable Lead Trust. These may or may not be options for the charities of your choice.
|
|
|
|
|
|