Planned Giving
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Case Study
The following is an illustration of how this type of donation works.
Susan, 60, wants to make a gift to a qualified charitable organization but would also like more income in the future.
Gift: Susan creates a charitable remainder unitrust with annual lifetime payouts to her equal to 6 percent of the fair market value of the trust assets. She funds the trust with $250,000 in stock, which she originally bought for $85,000. The stock paid her annual dividends of $5,000.
Benefits to giver: Susan receives $15,000 the first year from the trust, tripling her previous income. Subsequent payout amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $80,5251 in the year she creates and funds the trust. This deduction saves Susan $22,547 in her 28 percent tax bracket.
Note: If Susan had sold the stock and not given it to the trust, she would not have received the charitable deduction, and she would have paid an additional $24,750 in capital gains tax.
Benefits to the organization: At the end of the trust term (in this case, after Susan's lifetime), we are projected to receive more than $300,000 to continue our charitable work, based on 7 percent growth of the trust's assets.
A charitable remainder unitrust can provide you with payments that can potentially increase over time if the trust assets increase in value.
Learn How You Can Help
To discuss the good your trust could accomplish at Mote Marine Laboratory, please contact Anna Hayes at 941-388-4441, Ext. 261 or plannedgiving@mote.org.
1Based on annual payments and a 1.4 percent charitable midterm federal rate. Deductions vary based on income earned.
Your Next Steps
Getting Started | Is This Gift Right for You? | Case Study | What If You Don't Need the Payments Right Away? | 3 Ways to Fund Your Charitable Trust | Choosing Your Trustee | How to Complete Your Gift | Action Items
Getting Started | Is This Gift Right for You? | Case Study | What If You Don't Need the Payments Right Away? | 3 Ways to Fund Your Charitable Trust | Choosing Your Trustee | How to Complete Your Gift | Action Items
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
About Us
Mote Marine Laboratory has been a leader in marine research since it was founded in 1955. Today, we incorporate public outreach as a key part of our mission. Mote is an independent nonprofit organization and has centers for marine research, the public Mote Aquarium and an Education Division specializing in public programs for all ages.
Gifts in Action
Don Marshall (left) and Anna Hayes (right)
Don and his wife, Roma, were dedicated Mote volunteers, and when Roma died in '04, Don threw himself even more into his Mote volunteering. He is more convinced than ever that educating the public about marine life is the best way to safeguard it. That was the motive for his gift in his will to Mote Education Division. Read More
