ASN - Aids Support Network - San Luis Obispo County
Ways To Donate
Other Ways to Give
Most Americans vastly under-estimate their total net worth, since we mainly look at the balances in our checking accounts. But most of us have a variety of different assets, and these assets can be used to help support the AIDS Support Network (ASN). In addition to supporting a very important organization, there are also tax deductions that could save you significant dollars. Let's look at the ways you can give...
Cash:
A gift of cash is always a good gift. The gift is deductive up to 5O % of you're your adjusted gross income (AGI), and any excess deductions can be carried over for an additional five years.
Appreciated Securities:
Long-tern stocks, bonds or mutual funds that have increase in value make excellent gifts. You can deduct the fair market value in the year you make the gift AND avoid paying any capital gains tax. You can deduct up to 30% of your AGI for this type of gift with a five-year carry over provision as well.
Real Estate:
Home and land values on the Central Coast have made significant gains in recent years. A gift of real estate allows the donor to deduct the fair market value of the property, enjoy a 30% tax deduction and avoid paying capital gains tax.
Bequests:
Perhaps the easiest way to support ASN is to make a bequest through your will or trust. Your estate will receive a charitable deduction for the full amount given and avoid any estate tax issues.
Other types of planned gifts...
There are many types of charitable gifts that will occur in the future and could provide annual income and significant tax benefits. You should always consult a professional tax advisor before considering these types of gifts.
Charitable Remainder Trusts (CRT) :
This type of gift will provide you with an income for life. You contribute an asset into a trust. This trust pays either an annuity or a fixed percentage on an annual basis. When you or those you name in the trust pass on, what's left in the trust (the "remainder") will go to ASN. There are many advantages: You get an immediate income tax deduction and pay no capital gains tax on any appreciated property placed in the trust. You can even serve as the trustee for the CRT.
Charitable Lead Trusts:
Somewhat the opposite of a CRT, where you place an asset in the trust and ASN would receive an annual payment from the trust as long as you live. When the trust terminates, all the principal is returned to you or your heirs.
Life Insurance:
An un-needed life insurance policy can make an excellent gift. By naming ASN as the owner and beneficiary of the policy, you get an immediate deduction. You can also deduct future unpaid premiums on the policy. You can also keep ownership and name ASN as sole or partial beneficiary. Your insurance representative will have a designation form allowing you to name ASN as a beneficiary.
There are other planned giving techniques such as pooled income funds and gift annuities that might be available to help ASN. Check with a member of the Central Coast Planned Giving Council on these options.
The bottom line is that there are many creative ways to help ASN achieve the goals of providing care and support for persons living with HIV/AIDS. The important thing is to determine what you can give, the best method to give, then make the gift.
For more information please contact David Kilburn, Coordinator of Finance at 805-781-3660 x 210.
