As you plan for your future, the Friends of the Arc Foundation asks that you consider a gift that benefits both you and us. Giving to the Foundation ensures that the more than 1,400 people with developmental disabilities, supported by The Arc, Oneida-Lewis live enriched lives with services they need and deserve.
One way to achieve this is through planned giving. Planned giving offers donors a broad range of options for supporting the Friends of the Arc Foundation, plus the potential for significant financial benefits and tax advantages.* It’s a great way to help secure The Arc’s future and protect your assets at the same time.
We invite you to review the planned giving options available and urge you to consult with your financial or tax adviser to determine which options might be right for you.
Bequests offer one of the simplest ways to make a gift to the Friends of the Arc Foundation and create a personal legacy of a commitment to supporting people with developmental disabilities. Gifts by will or living trusts for the benefit of the Friends of the Arc Foundation may be for a set dollar amount, a percentage of the total estate, or the residual amount (funds leftover after all expenses have been paid).
Retirement plan assets (IRAs, 401(k), 403(b), etc.) offer another easy method for planned giving. The funds can be transferred at death to the Foundation by naming the Friends of the Arc Foundation as either the primary or contingent beneficiary of the account. As these funds are not distributed until your passing, they are not subject to estate tax or income tax, thus the entire balance passes to the Foundation and is left to an educational charity.
Charitable Gift Annuities
A charitable gift annuity through the Friends of the Arc Foundation can provide you or a loved one with a reliable and consistent stream of income for life, while also benefiting the Foundation. Charitable gift annuities are easy to establish with gifts as low as $10,000, a portion of which may be deductible for income tax purposes. The amount of the annual payment is based on the age of the income beneficiaries at the time of the gift and the date when the payments begin. A portion of the resulting payment may also be tax free to the beneficiary. Annuity payments may begin immediately or may be deferred for a period of time as part of your retirement planning.
With respect to life insurance, your needs change over time. The ownership and beneficiary designation of funded life insurance policies can be transferred to the Friends of the Arc Foundation. A gift of a current policy may also enable the donor to turn a monthly premium into a tax free charitable gift.
For details about planned giving options through the Friends of the Arc Foundation, please contact Community Development at (315) 927-0142.
* Note: Prospective donors considering some form of a charitable planned gift to the Friends of the Arc Foundation should consult with their financial or tax adviser.