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There are a number of assets that you may donate.
An overview follows. Please refer the Strategies & Benefits page for a description of giving strategies and benefits.
These overviews are not intended to provide tax or financial advice of any kind. It is very important to consult with your personal financial and tax advisors to find the planned giving strategies that are most appropriate to your circumstances and objectives. In many cases, you will also need a lawyer to draw up the necessary documents or make revisions to your existing will or trust arrangements.
- Appreciated Securities
- Business Interests
- Cash
- Life Insurance
- Personal Property
- Real Estate
- Retirement Plans
Appreciated Securities
Transfer appreciated securities to the Augustana Foundation.
The church sells your securities and makes use of the proceeds to Fund its programs. You receive an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you paid for them and pay no capital gains tax on the securities you donate. You may direct your gift to a specific fund or purpose.
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Business Interests
You give shares of closely-held stock to the church. The church offers the stock back to your company for redemption or re-purchase and uses the proceeds for its programs. You receive an immediate income tax deduction for the appraised value of your shares, even if their original value was close to zero. You pay no capital gains tax on any appreciation that has taken place in the shares.
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Cash
If you want to make a gift today and maximize your charitable deduction, you will want to consider a cash gift. Cash is the simplest donation and provides immediate benefits. When you make a cash donation you are entitled to a charitable income tax deduction. Your gift can be made outright or fund life income arrangements. Life income arrangements are charitable gifts in which you receive an income in return for a gift, either for your lifetime or a term of years.
You may also make a cash bequest through your will.
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Life Insurance
You transfer ownership of a paid-up life insurance policy to Augustana Lutheran Church. The Foundation may elect to cash in the policy now or keep the policy and receive the death benefit later. You receive an immediate income tax deduction for the cash surrender value of the policy. In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity.
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Personal Property
You transfer ownership of a valuable painting, antiques, collectibles or other personal property to the Foundation. The Foundation may elect to hold the property or sell it, using the proceeds to fund its programs.
You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax. You may also make a gift of personal property through your will.
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Real Estate
Gifts of real estate can often save you thousands of dollars in income or estate taxes. You may donate residential, commercial, or undeveloped real estate. Gifts of real estate secure a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains liability for the transfer.
You can also irrevocably deed a residence to the Foundation but reserve the right to use it during your lifetime. This arrangement is called a retained life estate and creates an immediate income tax deduction and a federal estate tax deduction. Alternately, your real estate gift can generate income for you by funding a life income gift, such as a charitable remainder unitrust.
You may also make a real estate gift through your will.
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Retirement Plans
You name the Foundation as the beneficiary of your IRA, 401(k) or other qualified plan. Any residual left in your plan when you die passes to the Foundation tax-free. You can escape both income and any estate tax levied on the residual left in your retirement account by leaving it to the Foundation. You may also continue to take withdrawals during your lifetime. You can change your beneficiary if your circumstances change. You can elect to leave retirement plan assets to the Foundation through your will or a revocable trust.
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