A Variety of Ways To Donate
There are many ways to make a donation to PRASAD to sustain and advance our work. Consult with your financial planner, accountant and/or attorney to determine which categories below best fit your individual and family situation. Then please contact our office at 845-434-0376 or email firstname.lastname@example.org so we can facilitate the process of giving in this manner. Thank you!
The information provided here is general. Please contact your professional tax advisor or legal counsel to discuss the best option for your individual circumstances.
Gifts by bequest can take many forms: a specified dollar amount, bequests of a percentage of the estate or a residual bequest of the remainder of an estate after all other obligations have been met. It is important that the bequest be worded correctly in your will, and we are happy to provide you and your legal counsel with suggested terminology.
Charitable Remainder Trusts
You may wish to consider establishing a charitable remainder trust during your lifetime or through your estate plan. These arrangements have special tax advantages and can provide income for you or other beneficiaries while benefiting PRASAD.
Gifts of Real Estate
You can make a gift of real property, including real estate such as a residence, vacation home or condominium. You may continue to use the residence during your lifetime, and you may also be entitled to a sizable income tax deduction.
Many individuals and businesses may be able to provide substantial assistance by gifting goods that can be used in PRASAD’s work. If you are considering giving an in-kind gift to PRASAD, it is important to review your plans with The PRASAD Project office to determine if the gift can be used at this time and if it meets certain acceptance guidelines or specifications. There are special rules surrounding the tax deductibility of goods gifted for charitable purposes. The general rule is that goods are contributed at the cost basis paid for them by the donor.
You may choose to make a gift of a new policy, a paid-up policy or an existing policy that is no longer needed to secure the future of your loved ones.
Retirement Fund Assets
Today, IRAs, Keoghs, 401(K) plans and profit-sharing plans make up a large part of many estates. If PRASAD is named as the beneficiary or contingent beneficiary of all or a specified percentage of your plan, both income and estate taxes are avoided.
A gift of appreciated assets to PRASAD, owned by you for more than one year, would qualify for a charitable contribution deduction equal to the full fair market value of the assets. Your gift could then be sold by PRASAD, and since PRASAD is a not-for-profit organization, the appreciation would not be taxed.