Planned Giving

Planned Giving is a long range gift of assets, rather than gifts of your income. These giving options are typically significantly larger than annual gifts to a charity, and may be designed to convey your specific values and priorities. All planned giving options provide significant tax benefits. SNMMI offers a number of planned giving options, including:

Charitable Gift Annuity

A donor makes a gift in cash or publicly traded securities and in return, receives regular payments for life that never change in size or frequency, regardless of changes in the economy. The donor is entitled to a charitable income tax deduction for the "gift value" at the time of the contribution (50% of adjusted gross income if the gift is cash, and 30% if the gift is appreciated property.
Upon the passing of the condor, the charitable organization receives the remaining principle. 

 

Deferred Charitable Gift Annuity

Deferred Charitable Gift Annuities are similar to Charitable Gift Annuities, with the exception that payments are postponed for a specific period of time, which is at least one year after the date of the gift.

 

Charitable Remainder Trust

A Charitable Remainder Trust is an irrevocable trust benefitting non-charitable and charitable beneficiaries.

  • The trust pays no income tax
  • The donor receives a current income tax deduction
  • The trust pays to the non-charitable beneficiary for its term (i.e. the donor)
  • The trust pays the remainder to a charitable beneficiary at the end of term
  • Charitable Remainder Trusts can be created during life or after you pass away

 

Charitable Lead Trust

A Charitable Lead Trust is an irrevocable trust benefitting non-charitable and charitable beneficiaries.

  • The trust pays no income tax
  • The donor receives a current income tax deduction
  • The trust pays to the charitable beneficiary for its term (i.e. the charitable organization)
  • The trust pays the remainder to a non-charitable beneficiary at the end of term (i.e. the donor or donor's family)
  • Charitable Lead Trusts can be created during life or after you pass away

 

Wills and Living Trusts

Wills and Living Trusts allow a donor to make a bequest to their favorite charity, lowering the donor's taxable estate with a dollar for dollar deduction. The donor can give all, part, or just the taxable amount of their estate.

  • Designation Options in a Will or Living Trust:
  • Designate Percentage of the Estate - "I give to my favorite charity five percent (5%) of the residue of my estate."
  • Designate Dollar Amount - "I give $10,000 to my favorite charity."
  • Designate Real Property - "I give to my favorite charity my entire interest in the real estate property located at _________."

 

IRAs and Qualified Retirement Plans

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Life Insurance

Charitable Gift Life Insurance provides a method of contributing to charity by taking out life insurance on yourself with the Society as a beneficiary.

Using charitable gift life insurance may allow donors to amplify their giving power. Rather than giving large cash gifts as part of a will, some donors find it easier to simply pay the life insurance premiums on a policy purchased to support SNMMI.

Using charitable gift life insurance means the donor does not get a tax deduction for the premiums paid. However, the amount of the death benefit paid to the Society will be deductible for estate tax purposes. Charitable gift life insurance may also be less likely to cause probate disputes, since the intention to make the gift to the Society is clearly laid out by the insurance document.