Legacy Donations
Your Planned Gift Can Benefit the Barn Studio
Legacy Charitable Gifting programs allow you to support The Barn Studio of Art during your lifetime, known as a Charitable Gift; or after your life time, known as a legacy gift such as a bequest. Through this program, donors will have the satisfaction of knowing that their gifts will help make a positive difference for generations to come.
One common myth is that the only way to support us is by writing a check or providing a cash donation. While we do accept these types of gifts, there are many other types of asset gifts donors can contribute. Your individual financial goals and personal values will help determine the most appropriate asset to contribute.
| A primary question to consider first is, have you made out a will? | If you have not, or it is time to update your will, regardless of your charitable intent, please consider this: | |
| IF YOUR GOAL IS TO: | THEN YOU CAN: | YOUR BENEFITS MAY INCLUDE: |
| Make a quick easy gift | Simply write a check now, or make a planned gift of money throughout a specified time period |
An income tax deduction and immediate positive impact to The Barn Studio of Art. |
| Avoid capital gains tax | Contribute long term appreciated stock or other securities | A charitable deduction plus no capital gains tax |
| Defer a gift until after your lifetime | Put a bequest in your will. | Your donations are fully exempt from federal estate tax |
| Receive guaranteed fixed income that is partially tax free | Create a charitable gift annuity | Current and future savings on income taxes, plus fixed, stable payments |
| Avoid capital gains tax on the sale of a home or other real estate | Donate the real estate to us, or sell it to us at a bargain price | An income tax reduction, plus reduction or elimination of capital gains tax |
| Give your personal residence or farm, but retain lifetime use | Create a charitable gift of future interest, called a retained life estate | It gives you tax advantages plus use of the property |
| Make a large gift with little cost to you | Contribute a life insurance policy that you no longer need | Current and possible future income tax deductions |
| Secure, fixed payments for life while avoiding market risks | Create a charitable remainder annuity trust | It gives you tax benefits and often boosts your rate of return |
| Give income from an asset for a period of years but retain the asset for yourself or your heirs | Create a charitable lead trust | Assets is returned to the donor or heirs with federal estate tax savings and income tax deductions for income donated |
| Create a hedge against inflation over the long term | Create a charitable remainder unitrust | Variable payments for life plus tax benefits |
| Make a revocable gift during your lifetime | Name us as the beneficiary of assets in a living trust | Full control of the trust terms for your lifetime |
| Avoid the twofold taxation on IRA or other employee benefit plans | Name us as the beneficiary of the remainder of the retirement assets after your lifetime | Lets you leave your family other assets that carry less tax liability |
Support through these programs also offers you and your family tax relief. Your personal and family financial and gifting goals will help determine a gifting option that is right for you.