Planned giving is finding ways to make charitable gifts now or after your lifetime while enjoying financial benefits for yourself and the satisfaction that you are supporting something that you have a passion for.
Planned gifts are sometimes referred to as "stop-and-think" gifts because they require some planning and, often, help from your professional advisors. Unlike cash donations, they are typically made from assets in your estate rather than disposable income, and come to fruition upon your death.
TYPES OF PLANNED GIFTS
There are many ways in which you can participate through planned giving that take into consideration your personal circumstances and the needs of your heirs. These include:
Make a gift for the future of Chattanooga Mocs Athletics that does not affect your cash flow or portfolio now. A gift that costs you and your family nothing today but may provide an estate tax deduction tomorrow!
By creating a new life insurance policy or donating a paid-up policy whose coverage you no longer need, you are able to make an endowed gift from income rather than capital. This can increase your ability to make a significant gift to Chattanooga Athletics.
Tap one of the most valuable assets in your portfolio - Real Estate - to make a gift to Chattanooga Mocs Athletics. In doing so, you may be able to avoid capital gains tax, receive an income tax deduction and have the option of a gift that doesn't affect your lifestyle.
Stocks or Bonds
Afford a larger gift to Chattanooga Mocs Athletics and avoid capital gains liability. This method of giving costs you less than the benefit it delivers to us, while avoiding capital gains tax.
Charitable Gift Annuity or Charitable Remainder Trust
Retain income benefits from the assets you give to Chattanooga Athletics thus afford a larger gift. This method allows you to receive income for your lifetime, a charitable deduction and an opportunity to diversify your holdings.
Charitable IRA Rollover
Under the extended charitable IRA legislation, if you are aged 70 ½ or older you can make charitable gifts now to the Chattanooga Mocs Athletics Program using funds from your individual retirement accounts (IRAs) without undesirable tax effects.
WHY MAKE A PLANNED GIFT?
By carefully planning your gifts, you can give more than you ever imagined possible, while producing exciting tax benefits and increasing the income available to spend for you and your family.
If you would like to receive more information on planned giving, please do not hesitate to contact either Matthew Wilson, Director of Planned Giving, at 423-425-4042 or Andrew Horton, Senior Associate Athletic Director, at 423-425-5285.