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Give to CAEF
Your contributions will advance CAEF’s important goal of supporting education to build a strong community. You may also be able to achieve tax and estate planning objectives without compromising your lifestyle through the gifting options described below. If you have any questions about gifting opportunities, please contact us by email at firstname.lastname@example.org.
Ways to Gift
Cash Gifts - A cash gift can be made by writing a check or giving cash. Please make your check payable to "CAEF" and mail it to PO Box 4, Circle Pines, MN 55014.
Gift of Stock - Giving stock to CAEF is easy and has an added tax benefit. You receive an income tax deduction for the fair market value of the stock, and you do not pay income tax on capital gains associated with the stock. If you first sell the appreciated stock and give cash to CAEF, you would pay capital gains tax on the appreciation. All you need to do is simply sign a form to direct the transfer from your brokerage account to CAEF. Your broker or financial advisor can assist you with the stock transfer.
Gift of Retirement Accounts - Your tax-deferred retirement accounts are subject to both income tax and, to the extent there remains a balance in the account at your death, to estate tax. You can name CAEF as a beneficiary of some or all of your retirement account, avoid both taxes, and benefit charity. As a charity, CAEF isn’t subject to income tax on assets received from your IRA, 401(k), or other retirement account, and your estate receives an estate tax charitable deduction for an amount passing to CAEF through a beneficiary designation. Simply request a beneficiary designation change form from your retirement account custodian. For the primary beneficiary, list “Centennial Area Education Foundation” as beneficiary of some or all of the account. Your account custodian may require that you list CAEF’s share in terms of a percentage rather than a dollar amount if you choose to gift less than the full value of the account.
Gifts from Estates - You can also leave a gift to CAEF at death under your estate plan. Your attorney can help with the gift by adding the following language to your will or revocable trust:
“At my death, I give $__________ (or ___ percent of the residue of my estate) to the Centennial Area Education Foundation, PO Box 4 Circle Pines MN 55014.”
Gift by Annuity or Remainder Trust - If you want to make a charitable gift now but retain an income stream, you might consider a charitable gift annuity or a charitable remainder trust. For a gift annuity, you would give cash, stock, or other property to CAEF and CAEF would pay you an annuity. You would receive a current income tax charitable deduction based on the donated property and the payment stream, and realize taxable gain and income when you receive annuity payments. You and CAEF sign a simple annuity agreement that spells out all the terms of the annuity. For the charitable remainder trust, you, your spouse, and other individuals can receive payments from the trust for a term of years or your lifetimes. At the end of the trust term, the remainder would be paid to CAEF. Your attorney and tax advisor would be involved in the preparation and implementation of a charitable remainder trust.
Gift by Lead Trust - If you would like to transfer an amount to CAEF now for a term of years, you could create a charitable lead trust and name CAEF as the beneficiary of a stream of payments from the trust. The trust would last for a term of years, and at the end of the trust term, the remaining assets would be payable to your children (for example). The charitable lead trust can be a significant gift and estate tax planning tool given the current low interest rate environment. Your attorney and tax advisor would be involved in the preparation and implementation of a charitable lead trust.
For any type of gift, whether simple or complex, please consult with your tax and estate planning advisors about required documentation and necessary records to obtain, and how the gift will impact your personal tax situation.