Planned giving is taking care of yourself until your last breath,
and then taking care of the ones you love and the causes that
you cherish later. The best plans are created by first, deciding
what your goals are and second, determining how to accomplish
your goals. Planned giving creates opportunities for both Toberman
Neighborhood Center and our donors. You can be a philanthropist,
even if you are not wealthy. It’s easy and you can receive
a true financial benefit while you help others. A planned gift,
deferred gift, estate gift – these are all different names
for a way to manage your affairs, plan for the future, and make
a gift to Toberman Neighborhood Center too.
You shouldn’t have to “wish” you could do
more, when you can do more easily! There are dozens of ways
to help, and planned giving is just one of those ways. Educated
giving makes every dollar go farther, and planned giving can
be tailored to fit your individual estate and financial needs.
There are a myriad of easy giving options from which you can
choose — from naming Toberman as a beneficiary in your
will, to a more complex trust arrangement. Ultimately the best
plan for you will balance what you wish to accomplish for yourself,
your family, and your charitable interests in your overall estate
and financial plans.
For further information, please contact our
Director of Development, Julie Ann Finney at (310) 832-1145.
If you decide to include Toberman in your estate plan, please
let us know so that we may be able to thank you and plan for
the future of Toberman’s children and families. Your gift
to the center will greatly help Toberman’s mission to
empower low-income members of the community to move past poverty
and achieve financial independence. To maximize your charitable
giving, we will have experts sit down with you, at no cost to
you at all, to tailor a plan specifically for your own needs.
There are many different ways to give:
A
charitable bequest is a very simple way of making a generous
gift to Toberman Neighborhood Center. When drafting or updating
your will, we encourage you to consider including Toberman as
a beneficiary of your estate, creating a legacy that will help
ensure excellent community programming for further generations.
A
gift annuity is a contract whereby you (and/or another beneficiary,
if desired) exchange a gift of money or securities for a fixed
income for life. The amount of annual income is based on your
age/s at the time the annuity is established. After your income
payments begin, a significant portion of each payment is exempt
from income tax when you donate cash for the annuity. You are
also allowed a potentially significant charitable income tax
deduction in the year the gift annuity is created.
The
deferred payment gift annuity differs from a regular gift annuity
in that payments begin at a date in the future, such as the
year you expect to retire. This gift vehicle allows you to make
a gift now and use the resulting charitable deduction to lower
your income taxes. Later, when you need the security of additional
income, you will receive a fixed income for life.
The
charitable remainder unitrust is ideally suited for those wanting
to make a gift using highly appreciated assets currently yielding
a low rate of return, while also desiring to avoid capital gains
tax on the transfer of assets to Toberman Neighborhood Center.
You receive a unitrust amount for life in exchange for an irrevocable
transfer of assets. The assets are managed as a separate fund
paying a fixed percent (at least 5%) of the fair market value
of trust assets as revalued each year. The percentage of the
trust received as payment is agreed upon between you and Toberman
Neighborhood Center at the time of the gift. You receive a significant
charitable income tax deduction in the year the trust is created.
The
charitable remainder annuity trust guarantees you income for
life at a fixed dollar amount in return for an irrevocable transfer
of money or appreciated assets to the school. When the trust
is created you set the dollar amount, which must be at least
5% of the value of the assets used to fund the trust. Capital
gains tax is entirely avoided on the transfer of assets to the
trust. Plus, you are entitled to an immediate charitable income
tax deductible.
Unlike
the previously mentioned trusts, the charitable lead trust distributes
income to Toberman Neighborhood Center rather than you. After a
specific period of time, the trust assets revert to you or are
distributed to others (usually family or friends). There may
be significant benefits, including possible estate and gift
tax savings.
You receive an immediate charitable income tax deduction by
deeding your home or farm to Toberman Neighborhood Center while
reserving the right to use the property for life (a retained
life estate). Your charitable income tax deduction will be a
portion of the present fair market value of the property, depending
upon your age, amount of depreciation, and IRS tables. While
continuing to be responsible for taxes, insurance and maintenance,
you also keep any income earned by the land. Upon your death,
and the death of your spouse, the Center is free to dispose
of the property and retain the proceeds. With this type of gift,
you receive an immediate charitable income tax deduction and
the value of your home or farm is removed from your taxable
estate.
Your
retirement plan will be subject to income tax after your death
and may be subject to estate tax if you leave a large estate.
You can avoid these taxes by naming Toberman Neighborhood Center
as a beneficiary of your qualified retirement plans, such as
individual retirement accounts (IRAs), 401(K)s, 403(b)s, Keoghs
or other plans. Simply ask the administrator of your plan for
a death beneficiary change form, and indicate the amount or
percentage of assets you wish to be transferred to Toberman
Neighborhood Center following your lifetime. Your spouse may need
to consent to your designation.
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A
charitable bequest is a very simple way of making a generous
gift to Toberman Neighborhood Center. When drafting or updating
your will, we encourage you to consider including Toberman as
a beneficiary of your estate, creating a legacy that will help
ensure excellent community programming for further generations.
A
gift annuity is a contract whereby you (and/or another beneficiary,
if desired) exchange a gift of money or securities for a fixed
income for life. The amount of annual income is based on your
age/s at the time the annuity is established. After your income
payments begin, a significant portion of each payment is exempt
from income tax when you donate cash for the annuity. You are
also allowed a potentially significant charitable income tax
deduction in the year the gift annuity is created. 
The
deferred payment gift annuity differs from a regular gift annuity
in that payments begin at a date in the future, such as the
year you expect to retire. This gift vehicle allows you to make
a gift now and use the resulting charitable deduction to lower
your income taxes. Later, when you need the security of additional
income, you will receive a fixed income for life.
The
charitable remainder unitrust is ideally suited for those wanting
to make a gift using highly appreciated assets currently yielding
a low rate of return, while also desiring to avoid capital gains
tax on the transfer of assets to Toberman Neighborhood Center.
You receive a unitrust amount for life in exchange for an irrevocable
transfer of assets. The assets are managed as a separate fund
paying a fixed percent (at least 5%) of the fair market value
of trust assets as revalued each year. The percentage of the
trust received as payment is agreed upon between you and Toberman
Neighborhood Center at the time of the gift. You receive a significant
charitable income tax deduction in the year the trust is created.
The
charitable remainder annuity trust guarantees you income for
life at a fixed dollar amount in return for an irrevocable transfer
of money or appreciated assets to the school. When the trust
is created you set the dollar amount, which must be at least
5% of the value of the assets used to fund the trust. Capital
gains tax is entirely avoided on the transfer of assets to the
trust. Plus, you are entitled to an immediate charitable income
tax deductible. 
Unlike
the previously mentioned trusts, the charitable lead trust distributes
income to Toberman Neighborhood Center rather than you. After a
specific period of time, the trust assets revert to you or are
distributed to others (usually family or friends). There may
be significant benefits, including possible estate and gift
tax savings.
You receive an immediate charitable income tax deduction by
deeding your home or farm to Toberman Neighborhood Center while
reserving the right to use the property for life (a retained
life estate). Your charitable income tax deduction will be a
portion of the present fair market value of the property, depending
upon your age, amount of depreciation, and IRS tables. While
continuing to be responsible for taxes, insurance and maintenance,
you also keep any income earned by the land. Upon your death,
and the death of your spouse, the Center is free to dispose
of the property and retain the proceeds. With this type of gift,
you receive an immediate charitable income tax deduction and
the value of your home or farm is removed from your taxable
estate.
Your
retirement plan will be subject to income tax after your death
and may be subject to estate tax if you leave a large estate.
You can avoid these taxes by naming Toberman Neighborhood Center
as a beneficiary of your qualified retirement plans, such as
individual retirement accounts (IRAs), 401(K)s, 403(b)s, Keoghs
or other plans. Simply ask the administrator of your plan for
a death beneficiary change form, and indicate the amount or
percentage of assets you wish to be transferred to Toberman
Neighborhood Center following your lifetime. Your spouse may need
to consent to your designation.