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Gift Options That Help Kansas Children Planned Giving integrates a donor’s charitable gifts into his or her overall financial, tax, and estate planning objectives in order to maximize benefits to both the donor and TFI Family Services Planned gifts typically come from a donor’s assets rather than income. There are many advantages to planned giving, including possible current tax deductions, the reduction or elimination of estate and gift taxes, avoiding taxes on capital gains, and the possibility of increasing current income after converting low-yielding assets to a higher-yielding life income plan. All planned gifts help develop and improve the agency’s Kansas Family and Children’s Foundation. There are basically three types of giving—immediate gifts, deferred gifts, and planned gifts that give back. Immediate gifts are popular due to their simplicity and the instant gratification of seeing your generosity put to work on behalf of Kansas children.Cash gifts are the simplest type of charitable donation, providing benefits and immediate support to TFI Family Services The dollars you give today might be a pair of glasses for a needy child tomorrow. You may deduct a cash gift for income tax purposes during the year in which you contribute it. Cash gifts are deductible for up to 50 percent of your adjusted gross income for the taxable year. Another popular option is a gift of securities. The best stocks to donate are those that are highly appreciated in value. Stock gifts are often deductible for up to 30 percent of your adjusted gross income, and you may avoid tax on the immediate capital gain. Registered securities should be sent unassigned to TFI Family Services Stock or bond powers endorsed with guaranteed signatures should be sent under a separate cover. Or you may contact TFI Family Services for further instructions. If you own property with no mortgage, a gift of real estate is also a possibility. You can deduct the fair market value of your gift and remove that asset from your taxable estate, or you can transfer the deed to us now and keep the right to use the property for your lifetime and take an immediate tax deduction. All three of the above assets may be used to fund a planned gift. Deferred gifts are planned now but do not go into effect for TFI Family Services until a specified later time or event. A bequest or memorial gift can specify a certain amount of money, a particular asset, or a portion of your estate be given to TFI Family Services Residuary gifts offer a way to help others once your family and heirs are provided for by indicating that the remainder of your estate is left to TFI Family Services This is a wonderful opportunity to continue making a difference in a child’s life far into the future, and it can be as simple as a sentence or two included in your will. Please specify: “I give to TFI Family Services, a not-for-profit charitable corporation, (________) to be used for its general purposes.” Life Insurance is another planned giving option. If TFI Family Services is named as beneficiary and owner of the policy, the gift will provide you with a tax deduction for the present cash value of the policy and/or future premiums. Gifts that give back combine your gift with sustained income or benefits for you or your beneficiaries. The plans are popular because they allow you to make a sizable gift to TFI Family Services while continuing to receive life income. Charitable gift annuities are perhaps the most popular giving option in this category. You simply give a certain amount of money or assets to TFI Family Services, and in return, you or your beneficiaries could receive an annual set income for the rest of your life. The payout rate is usually determined by the donor’s age on the date of the gift. Life income payments are insured by a strong Midwest insurance company. Charitable gift annuities allow you to make a generous contribution to TFI Family Services without depriving you of present and future income. Other options are also available. The charitable lead trust places certain assets into a trust that pays out income and/or interest to TFI Family Services Once the trust “matures,” either at a fixed amount or after an established period of time, whatever remains is returned to you or your designated beneficiaries. With a charitable remainder trust, assets are irrevocably transferred to the agency under a trust agreement, and then income or interest is paid to you for life or for a term of years. The advantages of this trust include income for life, avoiding capital gains tax if the trust is funded with appreciated securities, receiving immediate charitable income tax deduction, the possibility of reducing your estate tax, and the satisfaction of supporting TFI Family Services Our friends often use their bank or financial advisor to establish a charitable trust, or you can use TFI Family Services’s trustee. Please note that while some forms of planned giving are revocable, such as a bequest in your will, others are not. Charitable remainder trusts, for example, are irrevocable. This could have some bearing on whether your tax benefits take effect immediately or are delayed. This website is not intended as legal or tax advice, and it is highly recommended that donors consult with their own tax or legal advisors and our development professionals prior to making a planned gift to TFI Family Services To find out more about ways you can help, please contact Joan Sutton at 1-800-279-9914, or by email at joans@the-farm.org. He will be happy to set up a meeting with you and your advisor to discuss the giving plan most convenient for your schedule and lifestyle. |
