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Planned Giving
GOALS
Through Planned Giving, individuals and organizations can support various
American Statistical Association programs while enjoying the benefits
of significant tax savings and continuing income to the donor.
Contributions and grants directed toward ASA can be used to enhance existing
programs, scholarship grants and lecture series just to name a few. ASA
will work with you and your advisors to be sure that your goals are efficiently
met.
TAX-SMART VEHICLES FOR GIVING
The
term "Planned Giving" describes gifts to ASA that are put in place by
individuals now or at a later time and can include cash, securities, real estate
or personal property, insurance, or annuities. Planned gifts offer flexibility
in that they can be one-time contributions or on-going legacies as defined in
a donor's will and take into account your individual philanthropic objectives
as well as the tax and estate planning implications. In addition planned giving
can be in the form of an outright one-time gift of cash or appreciated property,
or in the form of a deferred gift discussed below. If you feel you are ready to
make plans of how to contribute to ASA in your will, we bly encourage you
to draw on the expertise of our staff for assistance along with the assistance
from your legal advisor and your financial advisor.
- Bequests
Direct gifts to ASA are perhaps the most effective means to ensure that
your wishes are carried out in the manner desired. More specifically, a bequest
in your will may specify a certain sum of money, appreciated assets or residue
portions of your estate be set aside for ASA and its various programs. You can
specify that your bequest be used for a direct fund, be added to an existing fund
or donated for a specific purpose to be determined.
- Charitable
Remainder Trust
With the use of a charitable remainder trust you
irrevocably transfer property - cash, securities or appreciated property - to
a trustee, which may be the charity or a trust company that is managing the trust
fund. The right to the income from the trust, either for life or a specified period
of time, remains with you. You agree to donate the residual capital to ASA at
the end of the specified period of time. This type of planning has significant
benefit especially to fixed income grantors. Charitable remainder trust supplies
you with a steady income, determined annually or at inception, depending on the
type of trust, without the responsibility of fund management. More...
Charitable
remainder annuity trust - trust vehicle with the value fixed at inception.
Income is fixed based on the initial value. This type of trust is beneficial where
there is a low tolerance for income fluctuation.
Charitable remainder
uni-trust - trust vehicle where the value changes annually based on the valuation
date. The applicable rate is applied against the value determined on the anniversary
date. This is used to determine the distributions for the year. This type of trust
is beneficial where significant appreciation is expected.
- Other
Types
Charitable Lead Trust
Functions in a similar
manner to the charitable remainder trust, except that the CLT pays income to ASA
for a specific period of time with the balance of the trust corpus being paid
over to the named non-charitable beneficiary at the end of the term
Gift
Annuities
Gift annuities represent direct transfers to ASA of an
amount to which a specified rate of return is applied to provide a periodic benefit.
The gift to ASA is complete with a returned promise on our part to meet the annuity
payments.
life Insurance
Significant tax advantages can
be gained by naming ASA as owner or beneficiary of either an existing or a new
insurance policy. Future payments can be made to us to pay ongoing premiums while
qualifying annually as a charitable contribution. An immediate charitable deduction,
roughly equivalent to the cash surrender value of the policy, can be taken in
the year of the transfer.
HOW TO CONTRIBUTE
For
more information on how you can contribute to ASA's programs while taking advantage
of significant tax savings, please contact:
Ronald Wasserstein
Executive Director
American Statistical Association
732 North Washington Street
Alexandria, Virginia 22314
(703) 684-1221
ron@amstat.org
The ASA is a 501(c)(3) not-for-profit corporation. Contributions to the
ASA are tax deductible.
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