When you make a direct contribution to Morning Star Boys’ Ranch you immediately impact programs at the Ranch. Your generosity enables us to meet our most urgent needs and carry out our mission, values, and vision. When you support us with an outright contribution, your benefits include:
1. The opportunity to see the results of your generosity.
2. An immediate charitable income tax deduction.
3. You have the option of making monthly recurring payment.
One of the easiest and most popular ways to make an impact at Morning Star Boys’ Ranch is to include a charitable bequest in your will or living trust. A bequest allows you to leave a legacy of support for the most vulnerable children in our community without affecting your cash flow today.
With a bequest, you can give a percentage of your estate so that your gift will remain proportionate to the size of your estate, or you can give a certain amount of cash, securities or property. Either way, your gift allows you to retain full control of your assets now, while ensuring that Morning Star Boys’ Ranch will continue to give strength and support to families far into the future.
If you would like to help us support children and families with a substantial gift with little cost to you, a gift of life insurance may be right for you.
If you are looking for ways to receive reliable payments while making a significant gift to Morning Star Boys’ Ranch, you may want to consider a charitable remainder trust.
HOW IT WORKS
With this type of gift, you create a trust and fund it with assets, such as cash, real estate or appreciated securities. You receive income (either a variable or fixed dollar amount) each year for the rest of your life or for a period of up to twenty years from the trust. At the end of the trust term, the balance in the trust goes to support Morning Star Boys’ Ranch’s mission.
· A partial charitable deduction for income tax purposes.
· Up-front capital gains tax elimination.
· Potential for increased disposable income.
· Professional management of assets available.
· Estate and gift tax charitable deductions.
A charitable gift annuity is a legal contract between you and Morning Star Boys’ Ranch. The property you contribute through a charitable gift annuity is part gift and part purchase of an annuity. A portion of the income you receive is a tax-free return of principal.
If you would like to support Morning Star Boys’ Ranch with a tax-smart donation this year, a gift of appreciated stocks, bonds, or other marketable securities that you have held for more than one year may be just the right gift for you.
HOW IT WORKS
When making a gift of appreciated securities owned for more than one year, you will receive a double tax benefit:
· You are entitled to a federal income tax deduction based on the current fair market value of the securities, regardless of their original cost.
· You will be exempt from paying capital gains taxes on any increase in the value of the securities since you acquired them–taxes you would pay if you had otherwise sold them.
Contributing real estate which is reasonably expected to be easily sold or an interest in such property to Morning Star Boys’ Ranch-whether a personal residence, family farm, vacation home, condominium, cooperative apartment, business property, or speculative acreage-can be gifted to Morning Star Boys’ Ranch and provide a tax advantage to your estate.
While 401(k)s, IRAs, and other retirement plans are excellent vehicles for accumulating assets for your use during retirement, much to many people’s surprise, they are a far less attractive way to pass an inheritance to loved ones. Here’s why.
· The tax burden: Retirement plan assets are subject to heavy income and possible estate taxes when you name anyone other than your spouse as a beneficiary. These taxes can deplete a significant percentage of your hard-earned savings–leaving less for heirs than you had hoped.
· A Charitable Solution: If you would like to include a gift to help children and families through your estate, consider the tax-smart strategy of naming Morning Star Boys’ Ranch the beneficiary of all or a portion of your retirement plan assets and leaving other less-taxed assets to your heirs. Because of our tax-exempt status, income and estate taxes are eliminated, allowing the full value of your retirement plan assets to make a difference in the lives of children.