The Cardinal Society

Charitable gift planning allows you to achieve your financial goals and share your philanthropic values with future generations as you also provide for your loved ones and endow the Anne Springs Close Greenway and its mission. While some planned gifts provide a life-long income to the donor, others use estate and tax planning techniques to provide for charity and other heirs in ways that maximize the gift and/or minimize its impact on the donor's estate.

Charitable bequests allow you to defer a gift until after your lifetime and reap the benefits of estate tax exemption and the control of assets for your lifetime.

Avoid the twofold taxation on IRAs or other employee benefits by gifting retirement assets, which includes IRAs, 401(k)s, Keoghs and 403(b)s. This type of gift removes tax from the most highly taxed asset, leaving more for family and avoids income and estate tax.

Charitable remainder trusts (CRUTs, CRATs) give low-basis investments, receive a steady income and tax deduction or mitigate capital gains, thus providing income for life or term of your choosing. This option is fixed for variable, based on trust type and allows for immediate income tax deduction.

Charitable lead trusts reduce gift and estate taxes on assets you pass to children or grandchildren. Lead trusts reduce your taxable estate while leaving property in the family, often with reduced gift taxes.

Appreciated securities giving includes the donation of existing shares of stocks or mutual funds. Benefits to this type of giving include the potential to avoid capital gains tax, diversify your portfolio and/or secure a stream of income.

Donor-advisor funds utilize extra income and can simplify your giving. This option allows you to secure a charitable deduction now but designate beneficiaries later.

Charitable or deferred annuities provide you and/or another beneficiary with stable income for life. You may also receive an immediate income tax deduction. Deferred gift annuities make fixed annual payments to you and/or a beneficiary for life, with payments commencing at a future date.

Consider making a donation of tangible personal property that is expensive to insure or maintain. You will receive gift credit and an immediate income tax deduction for the appraised value without paying capital gains tax, provided your gift satisfies the "related use" requirements.

Wills or Trusts: Include specific language in your will or trust naming a fund at ASCG as the beneficiary of a testamentary gift. You can specify a specific dollar amount, a percentage of your estate or the residue of your estate. Your estate receives a charitable deduction equal to the value of your gift.

Retirement Plan Assets: Name ASCG as the beneficiary of your retirement funds (e.g. IRA, 401(k) or 403(b) plans) to reduce or eliminate taxes completely and make a significant impact in your community. Life Insurance Policies: Make a gift of life insurance either by designating ASCG as the owner and beneficiary of the policy or by designating ASCG as a beneficiary of all or a portion of its proceeds.

Charitable Remainder Trusts: Make a future gift to a fund at ASCG while retaining income payments for yourself (and/or others) for life or a fixed number of years. You receive an immediate income tax charitable deduction in the year the gift is made or, in the case of testamentary CRTs, reduce your overall estate tax liability while benefiting the community and causes you care about in the future.

Charitable Lead Trusts: Make a current gift of income payments to your fund at ASCG while retaining the right for the principal to be returned upon your death or after a fixed number of years. You may receive a tax deduction and/or reduce your overall estate tax liability.

Information provided is general in nature. It is not intended to be, and should not be construed as, legal or tax advice. The Anne Springs Close Greenway does not provide legal or tax advice. Please consult your attorney or tax advisor.