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 Friends of The Arc Foundation’s benefit 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. Funds are transferred 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 the time of passing, they are not subject to estate tax or income tax; thus, the entire balance passes to the Foundation.
Concerning 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.
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 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 as part of your retirement planning. Our charitable annuity program is managed by The Community Foundation.
For information about the Foundation, please call us at (315) 927-0142 or email Mark Dudek, Chief Communications Officer, at firstname.lastname@example.org