Opportunities for Giving
There are many different ways that you can further the mission of the St. Bernards Development Foundation. Many provide you with tax and estate planning advantages. Here are a few:
Cash – Nearly every gift can be fully deducted.
Securities – You may deduct the full fair market value of long term appreciated securities and avoid any tax on the capital gain.
Life Insurance – You can make the Foundation the owner of the policy and get an immediate income tax deduction. Or, you can name the Foundation as the beneficiary of your policy. Since this is revocable, it can’t be counted for any immediate tax savings, but at your death, your executor may take a federal estate tax charitable deduction for the entire amount.
Real Estate – If the property has appreciated in value and is given outright, you avoid any tax on the capital gain, reduce your taxable estate by the value of the donation and receive a charitable contribution deduction for 100 percent of the fair market value of the property.
Agricultural Crops – Similar to other assets you own, donating crops offers tax advantages to the donor and the Foundation.
Residence – You may donate your personal residence while you and/or your spouse lives there for life, or for a set number of years. Either way, you receive an immediate income tax deduction for the contribution. Charitable deductions are also available if the life interest is given to one or two individuals and the remainder interest is given to the Foundation.
Life Income – Transfer property—such as cash, securities or real estate—to the management of a trustee and establish a life income arrangement. After the lifetimes of the beneficiaries, the foundation receives the assets in the trust. These can help you avoid capital gains, reduce estate taxes and provide you an income for life.
Trust-Wealth Transfers – A lead trust may be funded with property, such as cash, securities or real estate. The terms of the trust will provide specific payments to the foundation for a number of years, after which the property passes to your relative or friend. You gain sizable estate and gift tax advantages.
Corporate Matching Gifts – Many companies encourage charitable gifts among their employees by matching an employee’s gift with a corporate contribution. Donors interested in this opportunity should obtain the necessary matching gift forms from their employer.
A Bequest – One of the easiest and most common ways to donate is to bequeath an outright gift of money, securities or other property. There are several different types with various contingencies. Your taxable estate is reduced by a 100 percent deduction for the amount of a cash bequest or the fair market value of appreciated assets.
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We recommend you check with your attorney or tax specialist for the specific advantages of these different types of gifts.