Planned giving is a way to support The Center for Women and Families that may enable a donor to make a current or multiyear gift that may be larger than their typical annual gift.
For example, a gift of appreciated assets could be made rather than cash. Whether a donor uses cash, appreciated securities/stock, real estate, artwork, partnership interests, personal property, life insurance, a retirement plan, etc., the benefits of funding a planned gift can make this type of charitable giving very attractive to both donor and The Center. Legacy gifts can be current or future gifts that are typically larger than annual gifts and may provide a sustaining contribution or legacy to The Center for Women and Families.
What are the 3 types of planned gifts?
- First, outright gifts that use appreciated assets as a substitute for cash.
- Second, gifts that return income or other financial benefits to the donor in return for the contribution.
- Third, gifts payable upon the donor’s death
What are the tax benefits of planned gifts?
- Donors can contribute appreciated property, like securities or real estate, receive a charitable deduction for the full market value of the asset, and pay no capital gains tax on the transfer.
- Donors who establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed, minus the present value of the income interest retained; if they fund their gift with appreciated property they pay no upfront capital gains tax on the transfer.
- Gifts payable to charity upon the donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, do not generate a lifetime income tax deduction for the donor, but they are exempt from estate tax.
For more information on planned giving options, contact Jeanine Triplett, Vice President of Communications and Development, 502-581-7207