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Helping Your Clients Give
Often your client approaches you with a problem that charitable giving can answer. Here, we provide several examples (and charitable solutions).
If you do not see a particular issue and/or want additional information, please contact Bob Chapla, Vice President - Development, 231-332-4111.
Desires to avoid an immediate capital gains tax |
Your client may say, "I manage a rental unit that provides needed income, but it's too much work. What do you advise? |
Using the rental property to create a Charitable Remainder Trust (CRT) will not only secure lifetime income (perhaps more than the rental property), but also eliminates the capital gains tax, allow them to claim a sizeable tax deduction, and ultimately support a favorite non-profit. |
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Concerned about taxes |
For example, "I want to sell appreciated property, but I'm concerned about capital gains taxes. How can I eliminate or reduce my taxes. |
Giving all or part of the asset to charity will eliminate or reduce capital gains taxes. continue or begin to provide lifelong income, and/or provide satisfaction about supporting a favorite charity. |
Wishes to leave a legacy |
For the client who says, "I have no children, and it's time to write a will." |
How does your client want to be remembered? You can suggest a fund at the Foundation as a way to support an organization they are passionate about. |
Concerned about retirement plan assets |
For example, "I have a large retirement account, but I'm worried that my children will receive only 20 or 30 cents on the dollar." |
Using a retirement account to create an endowment will reduce estate tax, eliminate income tax on the IRA distribution, and create a family legacy. In the meantime, other assets can be used for gifts to family members. |
Wants to help a specific individual |
Your client may say, "I have a longtime employee (or friend, sibling, or parent) I'd like to help." |
A life-income gift, such as a charitable gift annuity, will assure the friend/family member a lifetime income - and allow your client to support a favorite non-profit at the person's death. |
Wants to be charitable but is unsure where to give |
For the client who says, "I'll be receiving additional income this year. I'd like to give to a non-profit, but I'm not sure which one." |
A donor-advised fund will lock in a tax deduction for the current year and allow time to choose the non-profit organization. With knowledge of the nonprofit community, Foundation staff can connect donors with organizations in their areas of interest and to support these organizations with grants. |
