Planned Giving
The following descriptions provide a summary of various giving options to The Children’s Center. Donors should review any proposed gifts with legal and financial advisors. The Center will, of course, work to maximize the advantages to be obtained from deferred gifts of all types. Representatives of The Children’s Center are happy to work with donors and advisors to determine the form of gift or gifts that best meets individual philanthropic, tax, and estate needs as well as provide the best support for the agency.
| The Pension Protection Act of 2006 offers a unique opportunity for donors ages 70.5 or over in 2006 and 2007 to make a current gift to The Children's Center. A donor who is considering a gift from an IRA to TCC should consult their finacncial or legal advisor to see whether this option is right for them. |
| A donor may make a gift of life insurance where TCC is named as the beneficiary of the policy. This gift may be in the form of a new or pre-existing policy. |
| A donor may designate The Children's Center as the benficiary of their pension or retirement benefits. Pension and retirement plan funds go into the donor's estate and the estate receives an estate tax deduction for the amount payable to TCC. |
| A bequest is a statement in the donor's will of a gift to be made from the donor's estate. The donation may be a specified amount, a percent of the donor's estate, or the residual of the estate. TCC has specific policies and procedures. |
| A donor or donor's family may have established a donor advises fund that benefits the agency. The donor receives a charitable deduction for the funds donated at the time the donor advised fund is established. A donor advised fund is a convenient vehicle for receiving donations. |
| Some families set up private foundations to further their philanthropic interests. Requirements for a donation from a family foundation vary widely, from very informal to very structured. |
| A donor may establish a charitable gift annuity at an organization that "houses CGA's" and donate the annuity or the ramaineder amount to TCC. |
| A donor may create a charitable remained annuity trust and name The Children's Center as the benficiary of the remainder interest. During the life of the donor, they receive regular payments of a fixed amount and an immediate income tax deduction for the value of the remained interest to TCC. |
| A donor may create a charitable remainder unitrust and name The Children's Center as the beneficiary of the remainder interest. The donor received an immedicate income tax deduction equal to the remainder interest to TCC. |
| A donor may create a charitable lead trust that names The Children's Center as the reipient of the income for a specified period of years. This income is tax deductible to the trust. In addition to receiving an immediate tax deduction while TCC receives income, investment of the funds of the trust may increase the amount avaliable to the holder of the remainder interest. |
Valuation of a Gift
Irrevocable, deferred or planned gifts, such as charitable remainder trusts, chartiable lead trusts, charitable gift annuities, or remainder interest in a residence or farm, will be value based on the IRS determined remainder value (tax deduction) or other applicable rules and regulations.
Purpose of Gift
A donor making a gift to TCC may make either an unrestricted or restricted gift. An unrestricted gift to the endowment allows TCC to allocate the gift to the Agency's unrestricted endowment fund or to a restricted endowment fund as TCC determines most appropriate to meet the needs of the Agency. A restricted Gift will be used to meet the purposes identified by the donor at the time of commitment.
For questions, more information, to propose a gift not listed below or other CAMPAIGN options, please contact Courtney at 801-582-5534 or cgaray@tccslc.org.
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