Enhance Your Rotary Legacy with US Tax-Wise Gift Options
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This document discusses several tax-wise gift options available to US donors for enhancing their Rotary legacy, including: 1) Charitable gift annuities which provide fixed lifetime payments and tax deductions in exchange for gifts of cash or securities. 2) Charitable remainder trusts which allow donors to gift assets and receive variable lifetime payments or a charitable deduction, with the remainder going to charity. 3) Donor advised funds which function like family foundations for tax deductions and recommending grants over time. 4) Using retirement accounts to gift to charity for deductions or avoiding double taxation, potentially receiving recognition. 5) Bequests and planned gifts which can provide flexibility, control and possible tax benefits while
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Enhance Your Rotary Legacy with US Tax-Wise Gift Options
- 1. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES ARE NOT AVAILABLE IN ALL REGIONS. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Enhance Your Rotary Legacy with U.S. Tax-wise Gift Options
- 2. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. KAREN TEICHMAN Rotary Club of Lewisburg Sunset Pennsylvania We secured our financial future and supported the amazing change we’ve seen first-hand through our Rotary Foundation.
- 3. A simple contract that puts your mind at ease for the future • Fixed payments for life - backed by the unrestricted assets of The Rotary Foundation • Charitable income tax deduction • Minimize any capital gains tax • Face value counts towards Major Donor or Arch Klumph Society membership • Continues doing good in the world in Rotary’s Endowment NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Charitable Gift Annuity CGA Gift of Cash or Securities Income tax deduction Reduced gains tax Fixed payments 1 2 3 Remainder Donor
- 4. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. STEPHEN BROWN Rotary Club of La Jolla Golden Triangle California I wanted to invest in both my family’s future and Rotary’s.
- 5. Your Trust, Your Flexibility • Turn cash, stock, or real estate into income • Regular payments for life, that can grow as the trust grows • Charitable Income tax deduction • Minimize any capital gains tax • Face value counts towards Major Donor or Arch Klumph Society membership • Continues doing good in the world in Rotary’s Endowment NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Charitable Remainder Trust CRT Gift of Cash, Property or Securities Income tax deduction No or reduced gains tax Variable payments 1 2 3 Remainder Donor
- 6. Like a family foundation, only easier • Functions as a family foundation, only easier • Charitable income tax deduction • Contribute now and make decisions later • Easily support multiple charities • Low annual administrative costs • Immediate Bequest Society recognition for individual accounts, other recognition possible NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. CHARITY Donor Advised Fund 3 Grant Recommendations Outright Gift Income tax deduction Reduced gains tax 1 2 Donor
- 7. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. FLOYD LANCIA Rotary Club of Anthony Wayne Indiana I wanted to pay less in taxes and build my Rotary legacy.
- 8. Turn protection into progress • See your gift in action • Establish a named endowed fund that continues doing good in the world • Do good with your Required Minimum Distribution • Reduce income tax with a deduction or the Qualified Distribution (IRA Rollover) • Prevents double taxation on inheritances • Receive Major Donor recognition and Arch Klumph Society membership when you can use it NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Retirement Accounts Outright Gift 1 2 Income tax deduction No gains tax Donor
- 9. Proper planning can continue your Rotary legacy • Retain flexibility and control during lifetime • Possible estate tax benefits • Bequest Society recognition • Continues doing good in the world in Rotary’s Endowment Rotary’s new website offers more information: www.rotary.org/legacy NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Commitments Planned Gift 1 2 Possible tax benefits Naming opportunities Donor
- 10. NOTE: THIS SESSION IS INTENDED FOR A UNITED STATES AUDIENCE. THESE UNIQUE GIVING VEHICLES MAY NOT BE AVAILABLE IN ALL REGIONS. Enhance Your Rotary Legacy with U.S. Tax-wise Gift Options For more information visit ROTARY.ORG/PLANNEDGIVING
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- This session is directed towards a U.S. audience or those who can benefit from a U.S. tax deduction. Today, we have a panel of Rotarians who have made gifts to The Rotary Foundation using one of the tools available in the U.S. tax code. By attending this session you will learn how you too can establish your Rotary Legacy while obtaining tax deductions; utilizing low-yielding assets for fixed payments to you and a spouse; turning real estate into an income-producing trust; among many other benefits.
- DETAILS A Charitable Gift Annuity is a great way for individuals and couples who are at least 50 years old to turn low-yielding assets into a regular income stream. Giving in this way is quite simple. You donate a minimum of $10,000 in cash or appreciated securities to Rotary in exchange for Rotary’s agreement to make fixed payments to you or your loved ones for life. Payments are backed by the unrestricted assets of The Rotary Foundation and will not change with fluctuations in the market. Rates vary from 4 to 9 percent depending on the age of beneficiaries when your annuity is funded. You can opt to defer your payments for a higher tax deduction and higher rate of payment. After all lifetime payments have been made, the balance of your gift annuity will be used to provide ongoing support for Rotary Foundation programs. This giving option can also reduce capital gains tax while earning Major Donor recognition and Arch Klumph Society membership for the full face value of your gift.
- DETAILS A tax-exempt Charitable Remainder Trust is perfect for individuals and couples who are at least 50 years old and are interested in turning illiquid or low-yielding assets into an annual payment stream. With a CRT you will enjoy the security of potential lifetime payments that are backed by the assets of the trust. As the trust grows, so will your payments! This unique giving option will help you reduce income tax and defer capital gains tax while earning Major Donor recognition and Arch Klumph Society membership for the full face value of your gift. Qualifying assets include real estate, cash, publicly-traded securities, privately-held stock, retirement plans, business interests, and savings bonds with accrued untaxed income. You may select a trusted advisor to act as trustee or let Rotary do the work for you. Rotary is pleased to act as trustee when The Rotary Foundation is the sole beneficiary, the trust’s value is greater than $100,000, payment recipients are at least 50 years old, and the payout percentage is between 5 and 7 percent.
- DETAILS For a small annual fee, you can open your own account at any time with a tax deductible contribution of $10,000 or more. The DAF can be used to support other U.S.-based charitable organizations in good standing. When you recommend grants to support Rotary Foundation global grant projects, The Rotary Foundation will match your DAF contribution 50 cents on the dollar. Individual Accounts are available for individuals and couples. At the end of your lifetime, half of the remaining account balance will be transferred to Rotary’s Endowment, so when you open your DAF you will be credited with a bequest commitment for half of the amount of your initial contribution. Rotary provides a boutique experience focused on customized individual support that is not available from larger institutions offering donor advised fund accounts. Group accounts are a great supplement or alternative to a club or district foundation, enabling your club members and others to make tax deductible contributions. This type of DAF is intended to last in perpetuity and must always be assigned between two and four account holders, who may be replaced or removed at any time. Contributions from a group account to The Rotary Foundation are credited to club and district giving totals and earn Paul Harris points, which may be transferred.
- DETAILS Amounts given directly to Rotary from your IRA will count as part of your required minimum distribution and qualify for a tax deduction. If you are 70 1/2 you can avoid having to claim the gift amount’s income at all under the special IRA rollover provisions. Please note that this type of gift does not apply to 401(k), SEP (simplified employee pension), and other retirement accounts. There is no minimum gift amount. You are allowed to direct that up to $100,000 each year be used to make charitable gifts. Married couples with separate IRAs can make transfers up to $200,000 ($100,000 per person). Did you know that if you leave retirement funds to your heirs, the funds can be subject to both estate tax and income tax? By leaving retirement plan remainders to the Rotary Foundation while using other assets to provide for heirs, you may reduce the overall tax burden on your family and create a personal, lasting legacy in Rotary and around the world.
- DETAILS Making a commitment to The Rotary Foundation in your estate plans is an easy way to build a lasting legacy today without affecting your current finances. By gifting a fixed amount or specific percentage and the remainder of your assets in your will, your gift will provide the financial support needed to fulfill your charitable goals. There are no restrictions to the amount you can give as a Benefactor. Gifts of $10,000 or more qualify for Bequest Society membership. For a gift of $25,000 or more, you can establish your own fund within Rotary’s Endowment in your name or in honor of a loved one. When you invest in the Foundation’s future, you will retain your Bequest Society membership regardless of fluctuations in your financial portfolio or other assets. A bequest can also be used to perpetuate your current Paul Harris Society level of giving, allowing you to support your favorite Foundation causes forever.
- Rotary is grateful to the thousands of devoted friends, leaders, and problem solvers whose generosity provides perpetual support for the Foundation and its ability to do good in the world beyond their lifetimes. We hope that you are able to benefit from these unique giving opportunities as much as we have. Visit rotary.org/plannedgiving to learn more. Rotary’s planned giving team is happy to assist you in structuring a gift that will help you save on taxes and support your favorite Rotary programs. We have reserved the rest of our allotted time to answer any questions you may have regarding our experience with these special giving strategies.