TYPES OF PLANNED GIFTS
Planned gifts include the following opportunities:
- Bequests - the simplest way to include LI in an estate plan is to make a bequest to the School through a will or to add a codicil to an existing will. You may designate a specific amount, a percentage or a share of the residue.
- Real Estate - make a gift of an asset no longer needed and generate an income tax deduction.
- Tangible Personal Property - share a collection or other personal item.
- Gifts of a personal residence
- Gifts of Life Insurance - paid up life insurance policies with LI as the owner and beneficiary support the School and allow the donor to claim a charitable deduction for the policy's cash surrender value. A donor may also give a policy that still owes premiums. In this case, the donor would receive a charitable deduction for the policy's cash surrender value and generate future charitable deductions by making annual premium payments.
- Gift of Retirement Assets - IRA's or other employee benefit plans.
Life Income Gifts
Life Income Gifts allow you to receive a lifetime income from the investment of the assets you donate. They can also be very flexible
Some Benefits to You:
You get an income tax deduction for the gift
You may increase your retirement income
Fund the gift with appreciated securities and reduce capital gains tax
Charitable Gift Annuities
What You Receive
- Income for Life: You have the benefit of a lifetime income for yourself and another person, if you choose.
- Tax Deduction Savings: The portion of the transaction that is considered a gift qualifies as a charitable income tax deduction.
- Tax-Free Income: Part of the annual income is considered a tax-free return of capital, excluding it from gross income until you reach your life expectancy.
- Capital Gains Tax Savings: If you contribute appreciated securities, you will need to pay some capital gains taxes for the "sale" portion of the transaction, but it is payable over your life expectancy - rather than being due all at once.
HOW A GIFT ANNUITY WORKS
The concept of a gift annuity is simple. A person wishing to support Lyndon Institute makes a gift of cash or marketable securities. LI, through its bank, reinvests the assets and pays your designated beneficiary/beneficiaries a fixed income for life. Upon the death of the last beneficiary, the remaining funds are deposited into LI's endowment.
Please contact Melissa Hall, Director of Development to learn more about your planned giving options.