POINTS TO REMEMBER |
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The SPCA of Anne Arundel County (AACSPCA) invites you to make a difference. Below are a few helpful things to remember.
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WHAT IS PLANNED GIVING?
Planned Giving is a mutually beneficial alternative to the outright giving of cash or other property. It allows AACSPCA supporters to make a difference well into the future while providing substantial tax and financial advantages to the donor.
Many people assume they have to be wealthy to make a significant impact on a charitable organization. To the contrary, planned giving creates opportunities for anyone who wants to make a difference.
It is important for you to make an appointment with an attorney or financial advisor. They can help answer any questions you may have as well as help develop a plan tailored to you.
Estate Gifts
Bequests allow you to keep control of your assets during your lifetime and benefits the AACSPCA in the manner you intend when you are gone. Bequests can be easily modified if your circumstances change.
How it works:
- Add the SPCA of Anne Arundel County as a beneficiary in your will or trust
- The will or trust will direct assets to your heirs and a bequest to the AACSPCA as you specif
Gifts of Retirement Assets are a great way to relieve you of the responsibility of paying income and estate tax on the residual left in your retirement account just by naming the AACSPCA as beneficiary of your IRA, 401(k), etc. You can still make withdraws from your account if necessary.
How it works:
- You name the SPCA of Anne Arundel County as the beneficiary of your retirement account
- When you die, any residual left in your plan is transferred directly to the AACSPCA, tax-free.
Gifts of Life Insurance are made by transferring ownership of a fully paid policy and give you an immediate tax deduction for the cash surrender value of the policy.
How it works:
- You transfer ownership of a fully paid insurance policy to the SPCA of Anne Arundel County
- The SPCA of Anne Arundel County elects to cash in the policy now or keep it and receive the death benefit later
Outright Gifts
Appreciated Securities allow you to receive an immediate tax break for the fair market value of the securities on the date of the transfer. You pay no capital gains tax on the donated securities.
How it works:
- You transfer your securities to the SPCA of Anne Arundel County
- The SPCA of Anne Arundel County sells your securities and uses the proceeds to help the homeless animals
Gifts of Real Estate will give you a tax deduction based on the fair market value of the property with no capital gains liability.
How it works:
- You transfer your real estate to the SPCA of Anne Arundel County.
- The SPCA of Anne Arundel County sells the property and uses the proceeds to help the homeless animals
Gifts of Valuable Personal Property such as cars, boats, etc., will result in a tax deduction dependent on the amount for which the vehicle is sold.
How it works:
- The vehicle will be sold at auction
- You will receive a tax letter reflecting the appropriate deduction amount
