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Through generous donations, The Arcadia Foundation is able to assist our residents who have exhausted their resources, as well as older adults in our greater community. With our non-profit status and the attendant advantages of that status, we are able to reach out in many meaningful ways with financial aid and with our operational expertise in senior care and senior living.
Donors to The Arcadia Foundation benefit financially from:
- Income tax savings by way of the charitable deduction using the value of the gift
- Avoidance of the capital gains tax by contributing certain kinds of property that has increased in value over time
- Life income – for a donor and/or other beneficiaries through deferred, life-income plans
- Potentially greater spendable income using certain arrangements
- Elimination of the federal estate tax on the value of the gift which passes to charity upon the gift giver’s death
- Reduced estate settlement costs
In order to fully develop the benefits of charitable giving and estate planning for you and The Foundation, please do consult your professional advisors as you consider charitable planned giving opportunities.
TYPES OF GIFTS
Cash and Property Donations
Gifts given outright are especially valuable to The Arcadia Foundation because they help meet immediate needs. Such gifts may be made annually for general operating support, for a current special use, or for endowment purposes. Gifts for endowment purposes may be pledged with payment made over a number of years.
Cash – Simplicity and ease of delivery make a cash gift (or check) the most popular type of charitable gift. A gift of cash is considered made on the date it is hand-delivered or mailed, and it is deductible in the year in which it is given. The deductible amount is limited to 50 percent of your adjusted gross income; a deduction in excess of that percentage can be carried over for five years.
Appreciated Property – Examples of appreciated property include stocks and other securities, real estate, and such personal items as art, antiques, rare books, coins, and other collectibles.
Deferred Gifts
For those who cannot or prefer not to make outright gifts or prefer to utilize personally for a time the value of a gift prior to its complete transfer to the receiving charity, the following deferred-gift options are available:
Charitable Remainder Trusts – Using charitable remainder trusts, you transfer assets irrevocably to a trust in exchange for payments to yourself or other beneficiaries that are determined by the types of investments the trust makes. The remainder is then turned over to a charitable entity such as The Arcadia Foundation after the death of last surviving income beneficiary.
Charitable Gift Annuities – In this type of gift arrangement, you transfer cash or marketable securities to The Arcadia Foundation in exchange for a contractually guaranteed schedule of fixed-income payments. The annual rate is based primarily on the gift giver’s age.
Bequests – You can simply leave a specified dollar amount to The Arcadia Foundation. In a specific bequest, you designate certain asset items (whose value may change over time). In a residuary bequest, you assign a certain percentage of your estate’s value to The Arcadia Foundation.
You might also use your will to establish a charitable trust which uses a specified amount of your estate to provide life income to one or more beneficiaries. The Arcadia Foundation would receive the principal that remains after all beneficiaries have passed away.
Other Special Giving Arrangements
Remainder Interest in a Residence in favor of The Arcadia Foundation – This type of gift is created by deeding the property to The Arcadia Foundation; during your lifetime you may enjoy use of the property and you receive a current charitable income tax deduction for The Arcadia Foundation’s remainder interest in this unitrust.
Life Insurance – This type of gift offers a way to benefit The Foundation at a relatively low cost for the donor. In order to deduct premium payments as charitable deductions, the donor must name The Foundation as both owner and beneficiary of the policy. An alternate means of using life insurance is the wealth-replacement option. In this case, you make a gift to The Arcadia Foundation and then, using the tax savings produced by the charitable deduction, purchase and pay the premiums on a life insurance policy which has proceeds roughly equivalent to the value of the contributed assets. The assets used to make the gift are thus “replaced” with insurance.
Charitable Lead Trust – This is the reverse of a charitable remainder trust. It allows you to place assets in a trust, assign the income to The Arcadia Foundation for a certain time, and have ownership of the asset later returned to you or be passed on to your named beneficiary.
How to make a charitable donation
We invite you to discuss the benefits of giving and the various ways you can contribute to this worthwhile cause.