Goals of the Development Program:
Clark Kolterman, CSA Treasurer
What do the words “planned giving” mean to you? For most people, they mean writing a will. When structured properly, however, planned gifts can hold financial benefits for the donor as well as the recipient.
Many people believe that planned giving is simply giving your money away. Most planned giving vehicles are smart investments that can pay off during your own lifetime. Of course, using financial assets to benefit loved ones or to support specific causes may be the primary reason to consider planned giving in the first place. Consulting with your financial, legal or tax advisors can determine if your gifts may offer a return.
Bequests A will or “bequest” is perhaps the simplest and most familiar method of leaving a legacy to friends, family and charitable organizations. Bequest can be general or specific in amounts, items and the individuals to whom they should be given, and under which conditions. This flexibility allows you to be both generous and true to your values.
Charitable Gift Annuity A gift annuity is a simple, contractual agreement that involves transferring assets to the charity in exchange for receiving payments for life for one or two persons. In addition to the valuable tax benefits and income you receive, you feel the great satisfaction of putting your gift to work in support of your beliefs.
Wealth Replacement Trust Perhaps you would like to make a sizable contribution but don’t want to reduce the estate you pass on to your family. Life insurance is the typical solution. Depending on your age, health and tax bracket, the income tax savings from your charitable gift may be enough to cover the premium cost of the policy. Consult your legal and tax advisors to structure this option most advantageously.”
Retained Life Estate Your home can become a significant gift to your favorite charity even if you are still living in it, and even if you want your spouse or other survivor to live there for life. By deeding your home to the charity while you are alive, you can obtain a sizable deduction for that tax year, depending on the value of the property and your age (and that of any person given life use). In addition, you retain the right to rent your home or make improvements to it.
Charitable Remainder Trust Although there is no single way to achieve all of one’s personal and financial goals, a charitable remainder trust comes close. In the right circumstance, it can increase your income, reduce your taxes, unlock appreciated investments, rid you of investment worries and provide very important support. In a charitable remainder trust, you irrevocably transfer money, securities or other assets to a trust that will pay you an income for life or a period of years. At your death, the remaining principal goes to the charity. There are five variations of these trusts. To determine which is best for you, consult your trusted advisor.
Charitable Lead Trust If your goal is to provide an inheritance for your children, but you would also like to make a significant charitable gift through your estate, a charitable lead trust satisfies both objectives. You can establish a charitable lead trust while living or at your death. The income from the trust flows to a charitable organization, typically for a stated number of years. After that period, the assets inside the trust are distributed. Of all the vehicles available to donors, the charitable lead trust is among the most complex, yet can provide excellent tax benefits.
Leaving your legacy for future generations is a great way to make a difference in any organization important to you, such as CSA. Whether one wants to eliminate taxes or establish an increased income stream, there is a planned gift to meet just about every goal. Consult your legal or tax advisors to work on the structure right for you. Our CSA staff is willing and ready to assist you in formulating your avenue of support for the many programs in CSA. Indeed, to plan is to live the motto of “Promoting a Gluten-Free You!"
Planned giving helps individuals leave a legacy for the future. It can offer benefits to the donor as well as the recipient. The most common planned giving vehicles include: bequests, charitable gift annuities, wealth replacement trust, retained life estate, charitable remainder trust and charitable lead trust. Following are some tips to help you get started with planned giving.
A major planned gift is a wonderful way to express appreciation to any organization and help those in the future. CSA offers this advice to assist our membership in planned giving, not only to the many programs of CSA, but all the other many opportunities that exist in service to others.
Note: This information is not intended to be official advice for tax or investment consideration. Please contact an attorney, tax professional or planner to help you with your planned giving. CSA can offer assistance with names of qualified financial advisors by contacting our office.
The need for a strong CSA is great! As awareness increases, the needs of CSA increase and resources are needed to assure patient representation in Washington DC and with the medical community. The prevalence of celiac disease is one in 141, however, diagnosis is likely less than 20 percent. A gift of any level, combined other donations, enables programming to maximize the benefit to the membership of CSA.
Funds fall into two categories, namely designated/non-discretionary gifts or non-designated/discretionary gifts. The donor determines into which category they wish to place their gift. The Foundation, which is legally bound to abide by the donor’s designation, will then disburse the donations accordingly. All actions of the Foundation are governed by its Articles of Incorporation. The Board of Directors must adhere to the wishes of the Donor for all designated gifts. Donations will improve and/or expand information and research about gluten-related conditions and treatments.
Memorial Donors may wish to review the current list of priority designations. Donors may choose a “perpetual fund,” with the option of “earmarking the interest” for specific and/or special uses. Special endowments can be created. The memorial can be tailored to meet both your desires and satisfy all tax and legal requirements as well. All memorials will be recognized with a recite, those over $20 will be acknowledged with a letter and recite.
Tribute A tribute gift honors the living, often recognizing a special event such as an anniversary or birthday. It may be a way to also thank an individual or honor them with this gift to CSA. Donors may wish to review the current list of priority designations. Donors may choose a “perpetual fund,” with the option of “earmarking the interest” for specific and/or special uses. Special endowments can be created. The memorial can be tailored to meet both your desires and satisfy all tax and legal requirements as well. All tributes will be recognized with a recite, those over $20 will be acknowledged with a letter and recite. Tribute cards requests may be directed to the CSA home office to honor special occasions.
Wise money management strongly suggests that competent legal counsel and tax advice be utilized when planning for the disposition of a lifetime of material wealth. The Board of Directors of CSA respectfully encourages you to seek such assistance as you consider making charitable gifts or planning your last will and testament.
It is a continuing challenge to provide assistance, programs, educational offerings, and research grants to the gluten-free community and membership.