Planned giving offers substantial benefits for both you and Eagle Ranch Childrens Home of Georgia. For you, planned giving offers such advantages as charitable income tax deductions, increased income and the reduction of capital gains taxes. For us, it means a gift that will strengthen the efforts of our Christian children's program for many years to come.
There are several planned giving options you may wish to consider. Keep in mind that these are intended as suggestions; we urge that you discuss with your financial and legal advisors before taking action. Here are some of the charitable donation gift ideas:
- Gifts of cash – If you itemize your deductions, an outright gift of cash is fully deductible for federal income tax purposes up to fifty percent of your adjusted gross income. If your total contributions in any year exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years. (Make a Memorial Donation)
- Gifts of securities – A gift of long-term appreciated securities offers you two tax savings: First, you pay no capital gains tax on the increase in value of the stock. Second, you receive a tax deduction for the full fair market value of the securities on the date of the gift. For income tax purposes, the value of the gift may be deducted up to thirty percent of your adjusted gross income.
- Real estate – A residence, vacation home, farm, acreage or vacant lot donated to Eagle Ranch can help you avoid a sizable capital gains tax, and you can choose to reside in your home or on your farm for the rest of your lifetime. Through this arrangement, you also receive a current income tax deduction.
- Bargain sales – Under this arrangement, you might sell long-term appreciated securities or real estate to Eagle Ranch at a price substantially below current market value. You would receive a charitable deduction for the difference between the sale price and the item’s fair market value.
- Unitrusts trusts – A charitable remainder unitrust is generally created as an irrevocable living trust. It allows you to make a substantial gift to Eagle Ranch and yet continue to receive income from the assets contributed. At the time the trust is created, you stipulate that the trust will pay you income for the rest of your life and/or the life of another designated beneficiary. After the life income payments to you and /or the other designated beneficiary terminate, Eagle Ranch receives the remainder of the assets in the trust.
- Annuity trusts – Charitable gift Annuity trusts are very similar to unitrusts except the life income beneficiary receives a fixed dollar amount annually rather than a fixed percentage of the assets in the trust.
- Charitable lead trusts – Charitable lead trusts are essentially the reverse of charitable remainder trusts. Under this arrangement, you would transfer assets to a trustee who would make interest income payments to Eagle Ranch for a specified number of years, after which time the assets would be returned to you or your heirs.
- Revocable trusts – Revocable trusts are those trusts with provisions that can be changed at a later date or the trust can be terminated at the creator’s discretion.
- Gifts through your will – Statistics show that more than half of all adults in the United States die without a valid will. If you don’t have one, we encourage you not to delay. Consult with your attorney at the earliest possible time. As you make estate plans, we hope that you will consider a provision for Eagle Ranch. Your bequest could be a specific dollar amount, a percentage of your estate, or a specific asset such as real estate.
For specific information on estate planning or to get a more-detailed brochure, contact Eagle Ranch at (770) 967-8500 or click here.