Planned Giving

What are the tax benefits of planned gifts?

• Gifts payable to ARC upon the donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, do not generate a lifetime income tax deduction for the donor, but they are exempt from estate tax.
• Donors can contribute appreciated property, like securities or real estate, receive a charitable deduction for the full market value of the asset, and pay no capital gains tax on the transfer.
• Donors who establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed, minus the present value of the income interest retained; if they fund their gift with appreciated property they pay no upfront capital gains tax on the transfer.

If interested in Planned Giving please contact ARC Executive Director Sarah Petersen at 815-777-2248 ext. 21 or email executivedirector@galenaarc.org.