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A 'Legacy of Love' Gift That Keeps Giving
Your 'Legacy of Love' to individuals with intellectual and other developmental disabilities can be greatly served by naming the Schoharie County Arc as beneficiary of memorial contribution, honorariums, and planned giving. The mission of the Schoharie County Arc Foundation is to ensure that our commitment to individuals with developmental disabilities is sustained through long-term financial support. With increasingly diminishing government funding, it is necessary for the Arc to seek private donations to maintain and enhance its high level of services which enrich the quality of life of the people we serve.
Your contribution to the Schoharie County Arc Foundation can make a meaningful difference in the lives of the people we serve and your legacy will live on forever by assisting us to provide needed services and supports for a lifetime of care!
How do people contribute?
Our family members have shown a strong commitment to advocacy on behalf of persons with developmental disabilities. Similarly, they have shown a strong financial commitment over time that has helped many programs to be established, facilities to be developed and services to be provided.
Family members and other friends make donations through cash gifts, pledges over a period of time, payroll deductions through United Way and State Employees Federated Appeal (SEFA), and regularly scheduled payments through planned gifts. They also make donations of stock and other property. Even people who are not in a position to write a check still contribute. In fact, these are some of the most important gifts that are made. They are gifts made in exchange for the payment of a lifetime income. They are bequests that designate the Schoharie County Chapter NYSARC as a partial beneficiary for a retirement plan or insurance policy.
What are the types of planned gifts?
Outright Gifts
- Cash
- Securities (stocks & bonds)
- Real Estate
Wills & Bequests
A gift made by naming the Schoharie County Arc a beneficiary of an individual's will or living trust (a "bequest"). The gift can be for either a specific amount or a percentage of residual estate.
Charitable Gift Annuity
- In exchange for an irrevocable gift of cash or securities, the Schoharie County Arc agrees to pay a fixed dollar amount during the donor's life and/or the life of a designated loved one.
- The amount received is determined by the size of the gift and the age of the income beneficiary (usually the donor)
- The income is guaranteed by the Schoharie County Arc and is not subject to market fluctuation
Pooled Income Fund
- The donor makes a gift of money or securities to the Schoharie County Arc and the assets are "pooled" with assets from other donors in an investment similar to a mutual fund.
- In return the donor receives income (based on his/her share of the fund) for the rest of his/her life.
Charitable Remainder Unitrust
- The donor irrevocably transfers cash, securities or other property to the trust in return for a negotiable percentage of income based on market value of the trust.
- The annual income will increase or decrease with the value of the trust assets.
- This trust is attractive for donors who desire growth potential and flexibility.
Charitable Remainder Annuity Trust
- The donor irrevocably transfers cash, securities or other property to a trust in return for a fixed dollar amount of income which he/she will receive annually for life.
- This trust is attractive to those individuals who need a steady income.
Gifts of Insurance
- The Schoharie County Arc is named the owner and/or beneficiary if an existing policy is no longer needed.
- It is an opportunity to make a contribution more substantial than might otherwise be possible
Gift of Retirement Plans - IRA, 401(K), 403 (b)
Like with life insurance, the Schoharie County Arc can be named as beneficiary of the plan
Charitable Lead Trust
- Similar to the other trusts described, the donor places cash, securities or other property in a trust.
- The recipients of the income and principal are reversed - the Schoharie County Arc receives a fixed amount of income or a percentage for a set period.
- At the end of the trust, the principal reverts to the donor or another named beneficiary.
- When the beneficiary is a family member, they can receive the assets with a sizable reduction in estate/gift tax.
What's in it for the Donor?
- Depending upon the type of planned gift, it can guarantee professional management of funds.
- Offers the ability to make a larger gift.
- Opportunity to make the gift without hindering the donor's ability to meet family obligations.
- If the gift is irrevocable, it can provide substantial, it can provide substantial tax advantages.
For more information concerning your deferred giving or charitable bequests to the Schoharie County Arc please call the Arc Director of Development at (518) 295-8130 Ext. 256 or your own tax advisor.
