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Type of Gift |
Form of Gift |
Benefit to Donor |
Benefit to CHS |
| Gift during lifetime | Anything owned | Tax deduction when gift is made |
Provides funds or other property for immediate use by CHS |
| Bequests through wills | Anything owned at time of death |
Fulfills donor's wishes and charitable intent. Possible inheritance tax reduction |
Provides funds at time of death for future programs of CHS |
| Charitable Remainder Trusts |
Cash, securities and real estate worth $5000 or more |
Annual income at fixed or variable amount; tax deduction when gift is made; capital gains tax may be avoided |
Ensures substantial future funding; principal payable to CHS at death of donor |
| Charitable Gift Annuity | Cash, securities and real estate worth $5000 or more |
Fixed income for life; tax deduction in year of gift; income can be deferred until needed; no capital gains tax due at time of funding |
Portion of funds available to CHS for present use; ensures future funding |
| Charitable Lead Trust | Cash, securities, real estate | Allows property to be passed on to others at reduced transfer costs |
Provides CHS with current annual income for the length of the trust |
| Revocable (living trust) |
Cash, securities, real estate | All or part of amount placed in the trust available to donor when needed; can give burden of managing assets to professionals to relieve individual; may be revoked/changed at any time |
Current gifts may be made annually from trust; CHS as a charitable beneficiary receives significant amount at time of donor's death |
| Insurance policies | CHS as owner and beneficiary of policy currently in force |
Tax deduction for value of policy or premiums paid (whichever is less); future premiums may be deducted as charitable gift; donor can make large future gift at small present cost |
CHS receives face value of policy at donor's death |
| Paid-up policy given to CHS |
Tax deduction based on current value of policy or premiums paid (whichever is less) |
CHS receives face value of policy at donor's death |
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| CHS named as beneficiary of policy, but not owner |
Donor enabled to make large future gift at small present cost; donor may later change beneficiary; donor may borrow on policy but receives no tax deduction |
CHS receives face value of policy at donor's death |
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| Retirement Plans | Company pension or profit-sharing plan , IRA, Keogh, tax-sheltered annuity |
Donor over 59 may make current gifts to CHS through withdrawal of these funds and receive tax deduction on estate and for inheritors other than spouse |
CHS receives current gifts for present funding; CHS named as beneficiary of plan receives funds at donor's death; CHS as final beneficiary receives funds at spouse's death |
| Saving Accounts & Certificates of Deposit |
Joint ownership with right of survivorship only |
Donor retains complete control of assets during lifetime; can use assets, change beneficiary or close account at any time |
CHS receives assets at time of donor's death |
This table is for general information only and should not be relied upon in your specific situation. It is not a substitute for legal or professional advice from your own tax or legal advisor.
If you wish to make a gift to the Concord Historical Society,
you may call the Society at (925) 827-3380, or if you wish to make
other future arrangements or just have questions, you may write to me at 524 San
Anselmo Avenue, Ste. 126, San Anselmo, CA 94960, telephone (415) 453-4999. I
will respond to your written questions or requests. You should, however, always
consult your own professional tax or legal advisor.
Lloyd R. Crenna, Esq.