Life income gifts give you the opportunity to make a contribution that will support you as well as the Himalayan Institute. Many life income gifts, such as charitable gift annuities and charitable remainder trusts are designed to support you throughout your life and then contribute the remaining funds to Himalayan Institute. These vehicles are further attractive as they provide significant tax deductions and access to professional money management without the burden of heavy fees. Though minimum donations hurdles apply for each of these vehicles, we are happy to work with you to find the vehicle that provides support for both you and the Institute.
Types of Gifts and Taxation Implications
If you are considering a gift beyond that of an outright donation, the following table may help you to consider what gift may work for you.
|If you would like to…||Consider…||How you may benefit…|
|Receive a charitable income-tax deduction||An outright gift of cash||Deduct 100% of the gift value from this year’s income-tax liability|
|Avoid capital-gain tax||A gift of appreciated stock||Provide increased support to HI while decreasing the cost to you|
|Make a significant future gift without affecting your current lifestyle||A charitable bequest||Reduce estate and death taxes, and retain control over your assets during your lifetime|
|Retain an income for yourself||A charitable gift annuity||Receive a current income stream and an immediate income-tax deduction|
|A charitable remainder unitrust||Receive a current income stream and an immediate income-tax deduction|
|A charitable remainder annuity trust||Receive a current income stream and an immediate income-tax deduction and receive a charitable income-tax deduction now.|
|Receive income later||A deferred-payment gift annuity||Receive an immediate income-tax deduction and income to begin at a future date you choose|
|Make a gift but retain control over the distribution of those assets to heirs||A charitable lead trust||Freeze value of assets contributed for gift- and estate-tax purpose.
Minimize taxes on the transfer of a business you own
|Leave assets to HI and your heirs upon your death even though you are not sure what to leave whom||Naming HI as a beneficiary of your retirement plan||Avoid estate tax on retirement-plan assets while making other property available to pass to your heirs|
|Make use of assets you may no longer need to support HI||A gift of a paid-up life insurance policy||Immediate income-tax deduction for the net cash surrender value of the policy at the time of transfer|
|Leverage the equity in one of your largest assets to support HI||A gift of real estate||Receive an income-tax deduction and avoid capital-gain tax while retaining the option to live in your home|
Within the category of life income gifts, Himalayan Institute currently focuses on offering gift annuities, charitable remainder trusts, and charitable lead trusts, but we are happy to work together with you to find the right vehicle to fit your needs.
- To learn more about Charitable Gift Annuities, click here.
- To learn more about Charitable Remainder Trusts, click here.
- To learn more about Charitable Lead Trusts, click here.
These life income instruments are specifically tailored to each donor so please do not hesitate to contact Greg Capitolo at 570-647-1516 to discuss your needs and how a life income gift may help you meet them.
As with any decision involving your assets, we urge you to seek the advice of professional counsel when considering a gift to the Himalayan Institute.