We want your clients’ donations to be used exactly as they intend so they directly impact the areas that they want to reach. Therefore, we have created several ways for your clients to realize their charitable goals:
Outright Gifts allow cash or property to be transferred to the CFGC and are eligible for tax deductions. Gifts of appreciated property avoid any capital gains tax. Outright gifts can include cash, publicly or closely traded securities, tangible personal property, real estate, insurance and retirement assets.
Gifts by Will are a simple, effective way to ensure that you are always working towards building a greater Chattanooga. This type of gift can be stated outright in your will or you can incorporate a clause that states whatever remains of your estate goes to a specific charity or fund. Some gifts by will are provided on a contingent basis: that means the funds are transferred when an heir or the charity meets certain requirements as explained in the will. .
Gifts of Retirement Plan Assets (IRA’s, 401K’s, 403B’s) allow the undistributed assets in qualified retirement plans to be designated to charity. By transferring these assets to CFGC, heirs are relieved of income tax.
Remainder Trust Gifts are gifts that give back. You can establish an irrevocable cash or property gift, but you or selected beneficiaries will continue to receive the annual income from the trust. When you die or terminate the trust, the remainder of the assets will pass to CFGC. Remainder Trust Gifts allow you an income tax deduction equal to the amount of interest left in the trust after all expenses are paid.
Interest Income Gifts or Charitable Lead Trusts could be called “gifts you get back.” You can give the income from the assets in the trust for a designated period of years and still retain the principal for yourself, your heirs or a third party. When the trust is terminated, the principle is yours. Many donors use Charitable Lead Trusts as a “tax-smart” method of passing assets to their heirs.
Insurance Gifts allow use insurance proceeds to be designated to a charitable giving program. A policy given outright provides the donor with a charitable deduction equal to the cash surrender value of the policy, and any donor-paid premiums are deductible. CFGC can also be named as a contingent beneficiary under an insurance policy.