There are many questions that you should ask when thinking about giving a charitable donation. You should carefully consider what to give, when to give, and how to give. By answering all of these questions, your planned gifts will not only benefit the organization of your choice, but can also preserve the financial security for the future needs of you, your family, and for those you care about.
Below are some examples of ways that you can support ICT and its mission.
The bequest is the most common type of planned gift, and can allow you to gain long-term tax savings. A bequest is a gift by will or living trust of cash, securities, real estate or personal property. Two common types of bequests are Residuary Bequest (give a percentage or all of the "rest, residuary & remainder" of your estate to ICT after first taking care of all other provisions of your will or trust), and Outright Bequests (give a specific dollar amount or particular asset to ICT.)
If you decide to make a residual bequest to ICT in your will or living trust, here is some suggested language to bring to your attorney:
Gifts of Stocks and Other Securities
Gifts of public stock or stock in closely held companies that have risen in value and you have owned for a year can be wonderful and very tax-wise ways to make a gift. In addition to a charitable deduction for the gift, you avoid all capital gains tax.
Charitable Gift Annuities
Charitable Gift Annuities are a popular way of making a gift now, while ensuring a fixed, income for you and/or your spouse or partner that you can never outlive. With a gift annuity, you make a gift of cash or securities to ICT and receive fixed, unchanging payments for life. Typically 60% of gift annuity payment will be tax free and you will receive a charitable income tax deduction as well. When the beneficiaries pass on, ICT will use the remainder to benefit Tibet. Gift Annuities start at $5,000.
Gifts of Retirement Funds
You can make ICT the remainder beneficiary of retirement funds such as IRAs, 401(k), 403(b), Keogh plans, or other retirement plans. There are special income tax benefits for making a gift in these ways.
Charitable Remainder Trusts
These special arrangements can provide a lifetime income to you and/or your loved one, avoid capital gains tax, and produce a sizable income tax deduction. After you and your spouse pass on, the remainder will help save Tibet. You chose the payout rate, the investments and even the trustee-yourself, ICT or anyone else. Remainder Trusts can be quite flexible and designed to meet your needs. Remainder Trusts can be done during lifetime or by will. They typically involve gifts of $100,000 or more.
Gifts of Real Estate
If you own your home, a vacation home, or other property, you can donate real estate and avoid a capital gains tax. At the same time, you can receive a charitable deduction for the value of the property. You may also wish to give you home as a gift and live in it for your lifetime and receive a sizable income tax deduction.
Gifts of Life Insurance
Life insurance policies can be a wonderful gift. You can name ICT as a beneficiary to receive all or a portion of the proceeds from the policy. Or you can choose to make a gift of the policy today with possible benefits from tax savings.
Gifts of Personal Property
Antiques, jewelry, and collections are examples of common types of personal property that can be donated.
For more information . . .
Contact us to find out more or call us at 202-785-1515 extension 225.