Planning a Gift to the Pepper Foundation
Prospective donors to the Mildred and Claude Pepper Foundation may wish to consider the range of gift mechanisms which federal and state tax laws allow and encourage. These include:
OUTRIGHT GIFTS: These gifts are exactly what their name implies: a direct transfer of funds from the donor to the Foundation. Gifts in this category can include gifts of cash, securities, tangible personal property that has increased in value since its purchase, and appreciated real estate. Donors can deduct the gift amount for such gifts up to 50 per cent of their gross income, and should the gift total exceed the deductible ceiling, the remainder can be carried over to succeeding tax years, up to five years. With careful planning, nearly every outright gift to the Foundation can be fully deducted.
GIFTS THROUGH BEQUESTS: One of the easiest and most common ways to make a gift to the Foundation is through a bequest in the donor’s will. Tax laws encourage bequests, and this form of giving is particularly well designed for those who are unable to make immediate outright gifts, but would like to aid the Foundation as it addresses the issues of aging and health in the future. Bequests may take the form of specific bequests, a residuary bequest, contingent bequests, or testamentary trusts. Members of the staff of the Pepper Foundation would be pleased to discuss the ways and means of making gifts through bequests to support the work of the Foundation.
LIFE INCOME GIFTS: Life income gifts allow donors to give and receive at the same time, thus making it possible for donors to give more to charitable causes than they could out of current income or savings. In many cases, donors can create trust instruments which allow them to receive income from the gift while receiving tax credit for the larger amount. Life income agreements can be developed with the Foundation through annuity trusts, unitrusts and gift annuities. Tax advisors and attorneys should be consulted in the structuring of such gifts.
It is important for prospective donors to note that the ways in which they contribute to the Foundation determines the tax benefits. All gifts to the Foundation are deductible within the regulations of the Internal Revenue Service, but we advise donors to consult with legal and financial advisors as they plan gifts through any of these mechanisms.
All gifts to the Pepper Foundation are tax-deductible within the regulations of the Internal Revenue Service.