Del Mar College Foundation - Planned Giving Charitable Gift AnnuityIn exchange for a gift of securities, you may choose to create a qualified Charitable Gift Annuity. The Foundation will guarantee a lifetime of payments to you, you and your survivor, or another person you name. You may receive a substantial income tax deduction in the year of the gift and a portion of the payments to you may be tax-free. Upon your death, the remaining portion of the gift supports the Foundation. (Payments from an annuity and your tax deduction are based on your age and other optional factors). Qualified Charitable Gift Annuities are simple to draft and administer.Deferred Charitable Gift AnnuitySimilar to a Charitable Gift Annuity, the Deferred Charitable Gift Annuity will provide payments to you at a future date you determine (such as when you reach retirement). Your tax deduction and annual rate of return increase if you elect to defer your payments. This is an ideal tool for many retirement plans.Charitable Remainder Annuity TrustAs the donor, you may select the rate of return from the Charitable Remainder Annuity Trust which will provide a fixed annual payment for your life or the life of another person you designate. Alternatively, should you choose a term of years to receive this annuity, not to exceed 20 years. You may avoid capital gain taxes and may receive a tax deduction based on your age and your selected rate of return. These trusts can be drafted to take effect during your life or at your death (to benefit your family or others).Charitable Remainder UnitrustSimilar to Charitable Remainder Annuity Trusts, the Unitrust provides payments to the donor based on a set percentage of the value of the assets as re-valued every January 1 st. The Unitrust can be drafted to allow gifts of tangible property which may need to be sold by the trust over a period of time.Charitable Lead TrustsIn a Charitable Lead Trusts, assets (cash or securities) are transferred to a trust, which pays an annual income to support the Foundation for the number of years you designate. At the end of this designated time, the trust terminates and the assets are given back to the persons you name. The assets can be transferred back to you, in which case the trust is known as a Grantor Lead Trust. The assets can also be transferred to someone else (usually a family member), in which case the trust is know as a Non-Grantor Lead Trust. While the grantor lead trust does provide the donor with a charitable income tax deduction, the non-grantor lead trust does provide a gift or estate tax charitable deduction depending on when it is created.Bequest Through Your WillOne of the simplest ways to give is through your estate. You can make a gift bequest in your will to the Foundation for a specific dollar amount, a percentage of your estate, or the remainder of your estate after you have provided for others.Revocable TrustsA Revocable Trust can be used to produce a probable gift. Like a pledge or bequest through your will, a trust of this nature can be changed as you so choose. A Revocable Trust provides you with income now as well as the right to retrieve your asset(s) from the trust, if necessary. You, as the trust owner, may choose to set aside a future gift to be given following your lifetime or the term of the trust. Because ownership of the asset is not surrendered, this type of trust does not allow an income tax deduction. However, a Revocable Trust ultimately left to charity can provide substantial savings in federal estate taxes.Life InsuranceYou can make a significant life insurance gift by naming the Foundation as a beneficiary of all, or a portion, of the proceeds of an existing policy. With this method of giving, a major gift may be made with only a modest annual payment. Individual Retirement Accounts Retirement AccountsRetirement account funds, employee’s company plans may be given to the Foundation by a simple beneficiary designation. Because a gift from one of these plans during your lifetime may trigger an income tax liability for you, and because these plans operate outside of your will, this gift is best made through a beneficiary designation with your company or individual plan which becomes effective after your death, similar to a bequest in your will. If you are 70 1/2 you may rollover up to $100,000 per year for chariable gifts without increasing your taxible income.Unrelated Use/Personal PropertyGifts of tangible personal property are always welcome. Charitable tax deductions are available in the year in which your gift is given and for up to five more tax years in order that a deduction may be fully used. For gifts which exceed $5,000 in value, the Internal Revenue Service requires the donor to provide a “qualified appraisal” to substantiate the deduction. The Foundation staff can help guide you in the process of giving personal property that is not related to the Foundation’s charitable exempt status.Related Use Gifts-in-KindMany gifts of goods or services are readily accepted by the Foundation. In-kind gifts enable you to be a part of the mission and help meet specific College and Foundation needs. The Foundation staff will be happy to help you determine the availability of potential income tax deductions for gifts given in-kind.Real EstateOne of the most overlooked methods of giving involves gifts of real estate. The Foundation officers can discuss the possible gift of land, a home, or a vacation home. In most cases, you will receive a tax deduction based on the full fair-market value of the gift while avoiding capital gains tax.Remainder Interest Gifts You may receive a substantial income tax deduction by giving (deeding) your home or other real estate to the Foundation now while retaining a Life Estate in the property allowing you to continue to reside and maintain the property as usual. You may even receive any income the property may generate such as rent, lease, production payments, or royalties. Upon your death, the Foundation will receive that property.