Planned Giving CAF

 

Planned giving is designed to create a legacy by helping people plan their personal, financial and estate giving goals in ways that benefit both you and CAF. The federal tax code allows for several types of trusts and gift agreements to be used as planned gifts to CAF, and in turn provide tax benefits to you. Planned giving also offers an opportunity for charitable giving in circumstances that may not otherwise allow a donor to make a gift to charity. Bequests, insurance policies, IRA’s, gifts of securities or property, and Charitable Remainder Trusts are just a few examples of planned gifts.

 

Planned Giving CAF_Alanna and Anna

 

Please contact Kristine Entwistle, CAF Associate Director, for more information or to make your planned gift.  Please consult your tax advisor on the tax advantages of making your planned gift.

 

 

Benefits of Planned Giving

 

For most people, the primary benefit of planned giving is the personal reward you receive by supporting individuals with physical challenges who want easier access to sports. Your donations of time and money enrich the lives of physically challenged athletes from all over the world. There are several benefits over-and-above current gifting:

  You can make a commitment now, with no obligations until after your passing.

 In many cases, you can receive tax deductions that can be used currently. Pay less tax now, for commitments years from now.

>   You help the organization demonstrate confidence in its long-term prosperity, which allows for greater commitments to beneficiaries now. As a leader and person of influence, you also show that you have personal confidence in CAF’s ability to deliver great results over the long-term, which can help increase current donations and sponsorships. You provide leadership.

 

Common Types of Planned Gifts

 

  1. Bequest is the easiest and most straightforward planned gift, which is language in your will or trust that directs a certain amount from your estate to CAF upon your death.  See suggested language below.
  2. Charitable Gift Annuities are also common, and provide substantial current tax benefits for most people. These gifts provide an income stream to either CAF or you for a period of time, with the other getting the remaining balance when the instrument matures.
  3. Life Insurance Policy proceeds are common and very easy to implement. Simply name CAF as a beneficiary for all or part of an existing policy, or take out a new policy for the amount you want CAF to receive.
  4. Real Estate can also be a great gift. With a life estate, you live in the home as long as you need or want. When you pass, the title is transferred to CAF, which can then sell it.
  5. IRA,  do you have that old IRA from your first job….what is in there? $6,000?  Your kids are well established, and you don’t need the money. Why not arrange for CAF to get the money after you pass?
  6. Charitable Remainder Trust enables you to diversify and realize tax benefits while accessing much of the asset base.

 

Planned Giving CAF_Wheelchair Tennis

 

 

LEGAL INFORMATION & SUGGESTED LANGUAGE

 

Below are examples of specific language that you may use to name Challenged Athletes Foundation as a beneficiary of your will, trust, life insurance policy, retirement assets, or other contractual gift. If you, your attorney, or financial advisor have any questions, please do not hesitate to contact us.

When including a bequest provision either in your will or through your trust, always use the full legal name and provide the federal taxpayer identification number.

Our full legal name is “Challenged Athletes, Inc.”

Our federal taxpayer identification number is 33-0739596.

Your planned gift to the Challenged Athletes Foundation can be in the form of specific amounts of cash or property, or as a percentage of your overall estate.  You may also name the Challenged Athletes Foundation to receive the residue, or a portion of the residue, of your estate.

 

Suggested language

 

Sample Bequest of Remainder of Estate:

I give, devise, and bequeath to Challenged Athletes, Inc. TAX I.D. #33-0739596, a California nonprofit  benefit corporation having its principal office at 9591 Waples St., San Diego, CA 92121-2953, all  [or state the fraction or percentage] of the rest, residue, and remainder of my estate/trust estate, both real and personal, to be used for the furtherance of its charitable purposes in the discretion and at the direction of the corporation’s board of directors.

Sample Bequest of Specific Amount:

I give, devise, and bequeath $           to Challenged Athletes, Inc. TAX I.D. #33-0739596, a California nonprofit benefit corporation having its principal office at 9591 Waples St., San Diego, CA 92121-2953,  to be used for the furtherance of its charitable purposes in the discretion and at the direction of the  corporation’s board of directors.

 

These are merely suggestions as to content and should be written or adapted by legal counsel to fit the contributor’s individual situation. If you would like to restrict a gift to a specific program or purpose, we would be happy to assist you or your counsel with this language.

 


 

Please contact Kristine Entwistle, CAF Associate Director, for more information or to make your planned gift.  Please consult your tax advisor on the tax advantages of making your planned gift.

 

Note: While it is not necessary, it is helpful to make the Challenged Athletes Foundation aware that we are being named in your will or trust. This way you can be sure your generosity will be executed in the manner you intend.  In addition, we have a special way to recognize donors who have made a planned gift as well as to inspire others to consider support. However, please know that while any information provided will help the Challenged Athletes Foundation in projecting future support, it is not considered a binding legal obligation in any fashion and that any bequest may be changed without further notice

 

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