Emporia-Greensville

CIVIC CENTER

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Planned Giving Can Benefit
the Civic Center Foundation AND the Donor

Planned Giving is a term used to describe the many ways that donations can be made to charities through an executed document. Often times individuals want to support a charity, but are unsure of how to do so. Planned gifts allow philanthropists to benefit through their donations of different types of assets.

Planned giving can:

Reduce a donor's income tax liability
Help donors avoid capital gains tax
Pass assets on to family members at reduced tax cost
Pass on a larger inheritance to heirs

Bequests

Bequests often refer to the allotment of property in a person's will. Bequests of property can include: primary residence, vacation homes, commercial buildings, farms, rental properties, land, timber and more. Bequeathing property to the Civic Center Foundation can relieve the donor of the hassle and stress of selling that property, and it can save the donor from paying closing costs and commission. The donor can donate property for its full appraisal value, no matter what the real estate market is like.

Gift Annuities

Gift annuities are a way for a donor to receive a fixed sum of money each month without paying the income taxes on the full sum. A donor would donate either cash or property to the Civic Center Foundation and in return the CCF would pay the donor a fixed amount of money from that donation yearly for the remainder of the donor's life or the donor's spouse's life.

Charitable Lead Trusts

A charitable lead trust is a type of trust into which a donor can put assets for a specific number of years. During those years, the trust would make annual donations to the Civic Center Foundation. At the end of the term, the trust is redistributed to the donor's family or other party of their choice. A charitable lead trust allows the donor to receive a large deduction on estate or gift taxes that would normally come into play when passing on an inheritance.

Charitable Remainder Trusts

A charitable remainder trust is the opposite of a charitable lead trust. With a charitable remainder trust a donor would create a trust that pays the donor from its earnings during the lifetime of the donor and their spouse. At the end of the donor's lifetime, the residual funds in the trust would be distributed to the Civic Center Foundation.

Pooled Income Funds

A pooled income fund is a fund into which multiple donors place their money. The fund is then invested and the donors share the profits that are generated from that investment for the remainder of their lives.

Nontraditional Assets

Nontraditional assests are often the easiest way to make charitable donations. Some nontraditional assets that donors often don't think about are IRAs, stocks & securities and life insurance. Donors can also make a contribution through their wills.

Retained Life Estates

With a retained life estate, you can donate property (e.g. your home or farm) to the Civic Center Foundation, but retain the right to use the property for your benefit for as long as you live.

If you are considering planned giving, contact your financial advisor to learn how such a donation can be benefical to you.