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Planned Giving is an opportunity for you to provide long range financial support for Chapter programs and services and improve your personal and family tax outlook. With a little planning, your personal philanthropy can be even more meaningful for you and your family. Careful planning may enable you to make more substantial contributions that you every thought possible.
The Chapter welcomes and deeply appreciates your generosity while urging you in the strongest possible terms to consult your family and qualified financial consultants before committing your resources to any sort of charitable gift.
Types of Planned Giving Gifts
Gifts of Cash |
Most people use personal checks to make charitable contributions. If you itemize your tax deductions, gifts of cash are deductible, up to half of your adjusted gross income (AGI). The portion of any cash gifts exceeding half of your AGI may be carried over and deducted in the next year for up to the next five years.
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Gifts of Securities |
Giving stocks, bonds or mutual fund shares that have appreciated in value will increase the impact of your gift to the Chapter. Giving securities directly to the Chapter lets you avoid all capital gains tax liability on the appreciation and you can take a charitable income tax deduction for the entire current market value of the securities (up to 30 percent of your AGI). The portion of any securities gifts exceeding 30 percent of your AGI may be carried over and deducted in the next year for up to the next five years.
If your securities have lost value from your initial purchase price, you should consider selling the securities first and then donating the cash proceeds to the Chapter. You will earn both the capital loss deduction on your income tax and a charitable deduction for the full amount of the gift.
If you are a high income taxpayer, you may need to include the appreciation in an Alternative Minimum Tax (AMT) calculation. Please consult a tax advisor if you may be subject to the AMT.
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Gifts Through Life Insurance |
Life insurance policies which are no longer needed (for example, policies begun when your children were young to provide for their education but now they have completed school) make a wonderful gift to the Chapter. You can add the Chapter as beneficiary, co-beneficiary, or contingent beneficiary of an existing policy. Alternatively, you may give a policy outright to the Chapter by naming us as owner and beneficiary of the policy. This will result in an income tax charitable deduction approximately equal to the cash surrender value of the policy.
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Gifts of Real Estate |
At this time, the Chapter is not prepared to accept marketable real estate gifts. If you are only able or interested in making a gift of real estate, please contact the Chapter so that together we can explore ways to accommodate your wishes.
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Gifts of Tangible Personal Property |
Gifts of valuables other than cash, securities or real estate may benefit the Chapter, but special planning may be needed. Gifts indirectly related to our charitable purposes--such as jewelry or a coin collection--may be donated, but earn a lower charitable income tax deduction. Please contact the Chapter for help planning such a gift.
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Bequests |
Bequests are gifts made through a will or living trust. Bequests may be best for you if you want to make a major gift, but cannot afford to give up income or capital during your lifetime.
You may bequeath a percentage of your entire estate or the entire residue (or a percentage of the residue) after all other bequests, taxes and fees have been paid. You may specify a certain dollar amount be given. You may set up charitable remainder trusts or gift annuities to benefit one or more of your heirs with the remainder going to the Chapter upon the passing of your beneficiary.
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Life Income Gifts |
If you want to make a significant gift to the Chapter, but are concerned about reducing your income, consider a life income gift. You get the income for life, a charitable tax deduction in the year the gift is made and avoid all or part of the capital gains tax liability if appreciated property is used to fund the gift.
The Chapter can arrange two types of life income gifts: the Charitable Remainder Unitrust and the Charitable Remainder Annuity Trust.
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Charitable Remainder Trust |
You can make a gift to the Chapter in trust, reserving the income -- either to yourself or to another person -- for life or for a set number of years. At the end of the trust, the assets are distributed to the Chapter. Two types of charitable remainder trust are available:
- unitrust -- income is based on a percentage of the trust's value which is revalued annually. Income may vary, based on trust investments' performance.
- annuity trust -- the beneficiary receives a fixed dollar amount annually.
Income rates for both trusts are agreed upon with the donor at the time of the gift and usually reflect prevailing investment rates.
Charitable remainder trusts may be managed by the donor, a bank trust office, or an attorney; at this time, the Chapter is not equipped to manage trusts.
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For further information, please contact Cindy Leach Schelhorn at 703/359-4440, extension 105.
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Last updated: September 27, 1999
Please return to https://www.alz-nova.org or call 800-207-8679 or 703-359-4440 for more information about services in Northern Virginia.
© 1997, 1998 & 1999 Alzheimer's Association, Northern Virginia Chapter. All rights reserved.
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