Donate | Planned
Giving
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Santosa & PJ
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Taj eating grass
Photo credit: Molly Wald
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Sam at Christmas
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Give a gift which helps us secure the future of
Healing HEART Sanctuary (HHS).
With the help of committed supporters, Healing HEART Sanctuary
has restored smiles and lives to those who previously had no hope,
animals and humans alike. Since 2003, Healing HEART Sanctuary has
helped literally thousands of animals either directly as a resident
[link to residents] of the sanctuary or through our outreach
services,
and through our disaster
response support.
What is the secret to making a gift that will provide the greatest
meaning to both you and HHS? Part of the answer lies in careful
planning and good organization. Planned giving creates opportunities
for both Healing HEART Sanctuary and our donors. The best plans
are created by first deciding what your personal financial goals
are. Determining what gift is right for you is just as important
as making the gift.
As an HHS supporter, you have the power to shape this future through
the financial and estate planning decisions you make today. By
naming HHS as a beneficiary of your estate, you will give the gift
of healing to animals and children who will need your help in the
years to come. New tax laws will make designating Healing HEART
Sanctuary as a beneficiary of your retirement account even more
advantageous to your estate plans. Consult a professional about
new distribution requirements and naming HHS as a beneficiary of
your plan.
There are many options from which you can choose to help you identify
the approach which best meets both your financial and charitable
goals:
- Donate Your Vehicle
Cars 4 Causes makes it easy to donate
your vehicle and all proceeds will go to Healing Heart Sanctuary.
Fill
out this simple form — they’ll do the rest.
It’s a simple and quick way
to support the animals at HHS.
- Charitable Gift Annuities
If you are a senior
citizen or retiree, you can transfer real
estate or marketable securities (such as stocks, bonds or
mutual fund shares) as well as cash to Healing HEART Sanctuary,
and in exchange, HHS will pay you a guaranteed fixed
income for life commensurate with the value of the transfer. What's
more, you will receive a tax deduction. Learn more
about establishing a charitable gift annuity.
- Insurance Gifts
There are several ways to
turn insurance policies into charitable instruments: You
can take a life insurance policy out on yourself that is owned
by Healing HEART Sanctuary; you can name HHS as
a beneficiary of a life insurance policy or annuity for death
proceeds; or you can transfer ownership of an existing policy
to HHS, which is ideal for a life insurance policy that
contains a benefit you no longer want or need.
- Stock Gifts
Stocks, bonds, mutual fund shares and other securities
offer alternative
ways to give that can benefit both you and Healing HEART
Sanctuary. When
donating assets that have appreciated in value, you
can avoid capital gains taxes. In some cases, HHS
would accept donations of non-liquid assets such as real
estate, art, jewelry, and valuable collections.
Congress has authorized Emergency Economic Stabilization Act
of 2008 which extends the law that allows donors to make charitable
gifts from their IRA accounts during tax years 2008 and 2009
without incurring income tax on the withdrawal.
Gifts of appreciated securities provide an excellent means
by which to support the animals and children of HHS and receive
tax benefits as well. Stocks that have appreciated in value since
their purchase allow you to:
- Make a generous gift to help support Healing HEART Sanctuary.
- Receive
a charitable income tax deduction equal to the fair market
value of the securities if they have been held longer than
one year.
- Avoid
capital gains tax that you would incur by selling the stock
- Carry
forward any deductions in excess of 30% of your adjusted
gross income for up to five additional years.
Taking a loss on securities? If you have investments that
have decreased in value since you have purchased them, you
might consider selling them and making a deductible gift
of the cash proceeds. You may then be able to deduct the
loss from other taxable income and combine that with your
cash contribution for a value that could actually exceed
the current value of the investment.
Consult with your financial
advisor about these and other tax-advantageous ways of making
a gift to HHS.
- IRA Accounts
Congress has re-authorized legislation that allows donors to
make charitable gifts from their IRA accounts during tax years
2008 and 2009 without incurring income tax on the withdrawal.
Those individuals age 70½ or older are required to take
minimum withdrawals and if you do not need them for personal
use, this may be a great way to make a gift to Healing HEART
Sanctuary. This is good news for people who want to make a charitable
gift during their lifetime from their retirement assets, but
have been discouraged from doing so because of the income tax
penalty.
To Qualify:
- You must be age 70½ or older at the time of the gift.
- Transfers
must be made from a traditional or Roth IRA account by your
plan provider directly to the charity. Funds that are withdrawn
by you and then contributed do not qualify.
- Gifts from
401k, 403b, SEP and other retirement plans do not qualify.
- Gifts
must be outright. Distributions to donor-advised funds, supporting
organizations, or life-income arrangements such as charitable
remainder trusts and gift annuities are precluded.
Benefits—Qualified Charitable Distributions:
- Can total up to $100,000 in each tax year (if your spouse
has a separate IRA account, you can each contribute up to $100,000
per tax year)
- Can be excluded from your gross income for federal
income tax purposes on line 15a of Form 1040 (no charitable
deduction is available, however)
- Can be used to satisfy your
Minimum Required Distribution (MRD)
- Are not subject to the 50%
deductibility ceiling or the 2% rule
How the New Law Works
Pat, aged 80, has $450,000 in an IRA and has pledged to give
us $75,000 this year. If Pat transfers $75,000 to us from the
IRA, she will avoid paying income tax on that amount. She cannot,
however, claim a charitable deduction—it is a pure "wash." Pat
has found an easy way to benefit us without tax complications.
If she desired, Pat could give more than $100,000. The legislation
allows a maximum $100,000 gift in both the 2008 and 2009 tax
years. So Pat could give $100,000 each year. If her spouse has
an IRA and is 70½ or older, he can also give up to $100,000
each year.
How to Make a Gift
Contact your IRA custodian to transfer your desired gift amount
to a charitable organization.
Additional Note for All IRA Account Holders
Regardless of your age, you can also list Healing HEART Sanctuary
as a beneficiary of your IRA.
It is wise to consult tax professionals if you are contemplating
a gift under the new law.
We appreciate your consideration of including Healing HEART Sanctuary
in your long-term planning. And everyone, especially the animals,
will be very thankful.
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