In June of 2000, the Board of Trustees of the International Foundation of The American Historical Society of Germans From Russia (IFAHSGR) adopted a Charitable Planned Giving Program.
Below are options of the Planned Giving Program. Contact firstname.lastname@example.org for more details:
Gifts to the Foundation of cash or cash equivalents may be taken as a charitable contribution income tax deduction of up to 50% of adjusted gross income in the year of the gift. Any unused portion of the deduction may be carried forward up to five years. Gifts of marketable securities, real estate, collectibles, and closely held family corporation stock may be deducted for up to 30% of adjusted gross income over five years. Capital gains taxes are avoided when making an outright gift of highly appreciated assets.
Charitable Gift Annuities
A Charitable Gift Annuity from our Foundation can give donors after-tax income for the rest of their lives. Donors make a charitable gift and secure a fixed-rate lifetime income. The IRS allows an income tax deduction, part of the lifetime income is tax-free, and if the Gift Annuity is funded with appreciated property, a portion of the capital gains tax is avoided. Among the types of Gift Annuities are the Deferred Flexible Gift Annuity, College Annuity, and Gift Annuity for the Remainder in a Home. The Gift Annuity passes outside of the estate, so there are no probate costs or estate tax consequences.
Charitable Remainder Trusts
Donors draft a Charitable Remainder Trust document and place assets, usually highly appreciated, into the Trust, which entitles them to a current-year income tax deduction and to bypass the capital gains tax. The deduction depends on the ages of income beneficiaries and the length of the term of the Trust. Trust income may be either fixed or variable and can be directed to whomever the Donor wishes. At the end of the term, the Trustee transfers the remaining funds to the Foundation and any other named beneficiary. A trust is free of federal estate tax and allows donors to maintain control and flexibility and can be set up for any reason, such as retirement or for the funding of college expenses of a child or grandchild.
Charitable Income Lead Trusts
A Charitable Lead Trust pays Trust income to our Foundation for a specified term, then the Trust principal reverts to the donor or passes to his or her heirs. The Family Lead Trust is a good way to "leverage the exemption" and pass appreciating assets to family members with little gift or estate tax cost. The Grantor Lead Trust is created to obtain an income tax deduction. The owner of the property gives up the income stream from the Trust for a period of years, yet receives the deduction up front for agreeing to give the income to our Foundation for a specified term.
IRAs and Pension Plans
Qualified Retirement Plans are becoming a growing asset for many Americans. Congress did not intend these to be inheritance plans. IRAs are subject to taxation if transferred to children or other non-spousal heirs. It is not uncommon for persons to experience income and estate taxation in excess of 70% on these dollars. Charitable Planned Giving through our Foundation, on the other hand, helps donors with ideas and solutions that will ensure that your IRA dollars go to you, your family, and charitable organizations.
Donors can name our Foundation as beneficiary of their life insurance policies. The policy owner simply completes a form provided by the insurance company. The gift is considered "revocable," so there is no current charitable contribution income tax deduction. The value of the property can be included in the decedent's gross estate and is deductible as a charitable transfer. Donors may assign policies to our Foundation and deduct the fair market value. For a paid-up policy, that is close to the cash surrender value. Donors may deduct premium payments up to 50% of adjusted gross income in any one year.
Endowment Fund Gifts
Donors can establish an Endowment Fund. The principal will remain invested permanently, with the earnings stream, like a wellspring, to be used in perpetuity for purposes designated by the donor family.
Life Estate Reserved
Donors owning a home, farm or ranch may choose to live there for life and receive a charitable deduction by making a gift of the calculated "remainder interest" to our Foundation. The "life tenant" continues to pay the maintenance, taxes and insurance, but when he or she passes away, the Foundation receives the property. Donors can also exchange the remainder interest in their home for a Gift Annuity, effectively converting a non-earning asset into one that generates a tax-advantaged income stream.
Bequests and Wills
By having an attorney draft, revise or add a simple amendment to their will, donors can make a Charitable Bequest of a dollar amount, specific property, a percentage of their estate, or what is left after all others have been taken care of. Donors should consider contingent bequests naming one or more charities, in case their primary beneficiaries predecease them.