Charitable Gifts

With careful financial planning, you and your family can actually enhance your after-tax income by making selected charitable gifts to PS1 Pluralistic School. This not only applies to annual income, but also to estate planning as well. There are few charitable gifts you can give which will have such an immediate impact on the lives of young people while benefiting your pocketbook at the same time.

Please contact your tax professional to determine the best methods of Planned Giving for your circumstances, and then contact Deirdre Gainor in the PS1 Advancement Office (310-394-1313 ext. 138) to make your gift. Thank you!

RECEIVE INCOME FROM A CHARITABLE GIFT TO PS1

Did you know that you can make a charitable gift to PS1 while still retaining income for yourself or a family member, and that you can do this while receiving significant tax savings as well? Here’s how:

Bequests: Providing for PS1 in Your Will

Providing for PS1 in your will or trust is the very best way to ensure that generations of children to come will continue to receive the benefits of a PS1 education. Because your bequest to PS1 is a charitable contribution, the entire value of your bequest is deductible for federal estate tax purposes.

Charitable Gift Annuity

You can make a charitable contribution to PS1, receive an immediate tax deduction, and receive annual income for the rest of your life. The rate you receive is based on your age and increases as you get older. Upon your death or that of your designee, the remaining principal goes to PS1. Gift annuities to PS1 are administered by the California Community Foundation.

Gifts of Life Insurance

You can name PS1 as a beneficiary on a new or existing life insurance policy. There are a number of different ways this can positively impact your tax situation. Please talk to your tax professional for particulars.

Retirement Accounts

Many people choose to name a charity as a beneficiary of a percentage, or all, of the assets they have in retirement accounts, such as Individual Retirement Accounts (IRAs) or 401(k)s, to a charitable institution. Why? Since such a designation constitutes a charitable contribution, it often lessens the amount of estate and income taxes due upon death, (a double benefit) which can result in more of your assets being received by your heirs.

Charitable Remainder Trusts

A charitable remainder trust is another way to provide income for you or your spouse. You may set up the trust so that you receive an income stream either until your death, or for a specified period of years. Unlike a gift annuity, donors have two options when deciding the payout rate of the trust: either a fixed dollar amount, which does not change from year to year, or a fixed percentage of the value of the trust, to be reevaluated yearly. When the trust expires, the remaining principal goes to PS1.

Reduce Taxes: Charitable Lead Trusts

A charitable lead trust allows you to place significant assets in a trust that pays income to PS1, typically for a set number of years. The trust remainder is then payable to either you, the grantor, or to your family. Please contact your tax advisor for an explanation of how charitable lead trusts can reduce personal income tax for you, or reduce gift and estate taxes on assets passing to heirs.

Gifts of Real Estate

Do you have a home, commercial property or an undeveloped lot that you own outright and no longer have use for? Consider gifting the property to PS1 and receive a charitable deduction for you or your heirs, while avoiding capital gains taxes.
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