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-above quote from 2003
SNCARC Annual Report



789 Clapboardtree St.
Westwood, Massachusetts  02090

           

In January 1993, Jane Campbell Smith received a letter from the Polaroid Corporation: "Dear Jane," it read, "In response to your request...Polaroid has agreed...to contribute a parcel of land in Westwood."
 
 
 
 
 
 
 
 
 
 
 
 
 

Planned Giving

Your planned gift helps SNCARC with planning for the future. It is not complicated to make a planned gift, and the best way to start the process is to have a conversation with SNCARC Vice President, Deb Wood (781-762-4001).

Bequests: Charitable bequests are the mainstay of planned giving. Naming SNCARC as a beneficiary in your will can help SNCARC continue with its programs in the future. SNCARC will receive the gift specified in your will. The gift may be a specific dollar amount, a percentage of the estate, or the residual of the estate. SNCARC greatly appreciates each and every bequest no matter how big or small. Let us know if you would like assistance in locating an attorney who can help you write or amend your will.
A charitable bequest is not subject to estate taxes.

Gift of Securities/Land: A gift of appreciated stock or real estate is a great way to make a donation. You will help SNCARC and get a smart tax donation in the process.

Life Estate Gifts: When you give your personal residence to SNCARC, you continue to live in your home, and you receive an income tax deduction for the amount of your gift.
A Life Estate is a gift of a remainder interest in your personal residence. You irrevocably transfer the title to your personal residence to SNCARC with related rights for you to use your property for a term that is specified in your gift agreement…usually for your life and your spouse’s life.
You will continue to live in your home and receive an income tax deduction for the value of your gift. The value of your gift is calculated based on your home's value at the time of the gift.
Life Income Gifts: You can make a gift to SNCARC and receive income for life.
If you make an irrevocable transfer of some assets to SNCARC, you (and a survivor, if you wish) can receive income for life. Ultimately, the assets you transferred will be used to support SNCARC programs.

Benefits of Life Income Giving

  • You will receive yearly income.
  • You can take a charitable deduction on your income tax in the year you make the gift for the present value.
  • Your effective yield is increased by substantial income tax savings.
  • Income can be taxed more favorably in some plans.
  • Your probate and estate administration costs may be reduced.
  • You have the pleasure of knowing your gift will do good work.

In exchange for your gift of cash or marketable securities to SNCARC, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually for your lifetime. The transfer is part gift and part purchase of an annuity. The rate of return is attractive and the payments are guaranteed for life.

The rates are different for an annuity for two lives. The rates for two lives are less than rates for one life because the period of payment may be longer. If you wish, you may defer a charitable gift annuity. You can make the gift now, and SNCARC will pay you (and another beneficiary, if you wish) life income starting at any date you specify. This is a great option if you are concerned about retirement income. Also, you receive the income tax deduction in the year you make the gift. The amount you receive each year depends on the amount transferred, your age now, and your age when the payments are to start.

There are two ways to establish a life income gift at SNCARC:

CHARITABLE REMAINDER TRUST

You irrevocably transfer cash/securities to a tax exempt trust. You may designate yourself or someone else to receive income for life. At the end of the income payments, the remaining assets in the trust will be paid to SNCARC.

POOLED INCOME FUND

Your gift of money, marketable securities, or both is invested together with similar gifts from other SNCARC donors. You or your beneficiary will be entitled to a prorated share of the income of the fund for life.

For example, a $10,000 life income gift is invested in a pooled income fund. Your share of the annual earnings would be the percentage earned by the fund times your gift. For example, if the fund earned 5%, your earnings would be $500. Each year, your payment will reflect any increase or decrease in the fund's net income.

Gift of Life Insurance: Some SNCARC families and friends no longer need their life insurance that was purchased years ago to provide for children or other family members. By transferring the life insurance policy to SNCARC you can help us and receive an income tax deduction for the gift.
There are a variety of ways to use your life insurance for a substantial gift to SNCARC. Depending on the type of policy you donate, you may receive an up-front income tax deduction for approximately the amount of the policy’s cash surrender value and any future premium payments may also be tax-deductible. The proceeds from the insurance are completely removed from your estate.
Gift of Retirement Plan: You may have a qualified retirement plan such as an IRA, 401(k), 403(b) or Keogh plan that has grown assets tax-free for years. Since the distributions from these plans are subject to income tax and are also included in your taxable estate, retirement plans may be an excellent source for making a tax deductible donation to SNCARC.

One good tax-friendly way to make a donation of all or part of your qualified retirement plan is by creating a Charitable Remainder Trust through your will. It works like this: The retirement plan assets you designate are transferred to the tax-exempt trust. The trust provides life income to the designated beneficiary with an eventual gift (the remainder) made to SNCARC. The beneficiary will pay income tax on the distributions from the trust. Your estate will receive an estate tax charitable deduction for the value of the donation that eventually goes to SNCARC.

For more information about planned giving, please make an appointment to discuss the possibilities of your long-term support of SNCARC by calling 781-762-4001.

South Norfolk County Arc
789 Clapboardtree St.
Westwood, MA  02090
Email: DWOOD@SNCARC.ORG
Phone: 781-762-4001 Fax: 781-461-5950
South Norfolk County Arc is a private, nonprofit 501(c)(3) organization.