Commercial or Residential Real Estate gifts have substantial financial benefits. Property may be given outright to support the mission of Arizona Elk Society and the donor can take a charitable income tax deduction based on the appraised value of the property. Or, the donor may use a home or land that is no longer wanted or needed to fund a life income gift, with the residual going to AES when it is no longer needed.
Retained Life Estate is another option for a gift of real estate. A donor makes a gift of a personal residence to the Arizona Elk Society and retains the right to live in the home for life. Making a gift of property while retaining a life estate provides the donor with a charitable income tax deduction based on the value of the property, the age of the donor and his/her life expectancy. For a gift of appreciated property, a donor may take a charitable income tax deduction for up to 30% of the donor’s adjusted gross income.
To substantiate the value of the property, the donor must obtain an appraisal from an independent qualified appraiser. The cost of the appraisal is borne by the donor and is a miscellaneous tax deduction. The donor is responsible for maintenance costs, insurance and real estate taxes.
Gifts of Appreciated Stock is an easy and tax-effective way to make a gift to AES. You can avoid paying capital gains tax on the sale of appreciated stock and receive a charitable income tax deduction. The value of a charitable gift of stock is determined by taking the mean between the high and low stock price on the date of the gift. Mutual fund shares are valued using the closing price for the fund on the date of the gift. You can make a gift of stock by transferring stocks or bonds electronically from your brokerage or investment account to Arizona Elk Society. Or, if you hold securities in certificate form, you will need to mail two envelopes separately to complete your gift. In the first envelope, place the unsigned stock certificate(s). In the second envelope, include a signed stock power for each certificate. You may obtain the form from your broker or bank. Remember to use certified mail.
A Named Endowment Fund is a permanent fund in your name, the name of someone you wish to honor, or a name that is meaningful to you. With a minimum gift of $10,000, an endowment fund can be established for the benefit of one or more charitable organizations or purposes. The percentage of the Fund distributed annually is determined by the AES Foundation Board of Directors, and currently, five percent of the fund is distributed to charitable organizations that are important to you. In addition to enjoying significant tax advantages, an Named Endowment Fund connects future generations of your family to the causes that matter to you. Take heart knowing your legacy will be professionally managed and that your charitable intent will be fulfilled.