There are many ways of making a planned gift to Astraea. Each option is expressive of a donor’s particular interests and each have distinct tax advantages. Moreover, a variety of assets may be appropriate for charitable gift purposes. Astraea has partnered with Penn Mutual to develop a one-hour webinar exploring the basics of developing a planned giving strategy, and this unique tool can demonstrate how each of us can have a profound impact on the people and organizations we value most.
Learn More About Planned Giving
Consider joining our “We Will Giving Circle” that celebrates those who have made planned gifts to Astraea through bequests, life income gifts, insurance policies and other estate planning vehicles. It provides a way for us to recognize members of the Astraea community who have designated us as a beneficiary of their estate during their lifetime and to involve them more intimately in the Foundation’s work.
Bequests are the most common form of planned giving. Everyone should have a will, otherwise the US government steps in to make a determination of how your life’s accumulation of assets will be distributed. Any asset may be donated in whole or part as either a percentage of your estate or a specific dollar value. While Astraea benefits greatly from unrestricted bequests, we can work with donors to determine the way in which their gift may be used in perpetuity. Astraea uses donors’ bequests both to meet our annual funding needs or to grow our endowment.
IRA, 401(K) and 403(b) Pension Plans
If you are 70.5 years old, you are required to take distributions from your pension plans. That income is taxable. If you do not need to take the income generated, you can transfer the funds to the Astraea Foundation and save on taxes while still fulfilling your philanthropic goals.
Another way to bequeath a donation to Astraea is to make the Astraea Lesbian Foundation for Justice your beneficiary of your insurance policy either in full or as a percentage of the remaining value of your fund. If your policy is fully paid, as in a whole life policy, you can transfer ownership to the Astraea Foundation. Either option may reduce your taxes – either now or in your estate.. Astraea uses these funds as we do for bequests.
In many cases, a deferred gift enables a donor to make a more significant contribution to Astraea than would be possible by an outright gift. Most often such gifts are funded with cash or stock and take the form of life income arrangements, which generate income for the donor during her lifetime or for a term of years. The principal then reverts to Astraea. The donor receives immediate tax benefits for the contribution while helping insure Astraea’s future strength. The donor may name an income beneficiary other than herself, and she may also extend the income interest to include the life of a second or survivor beneficiary, although this reduces the tax benefits.
Charitable Remainder Trusts or Charitable Gift Annuities
Charitable Lead Trusts
If you would like to designate Astraea as a beneficiary in your will, insurance policy or retirement fund, or choose a deferred gift option, please contact the Development Department at email@example.com or 212-529-6144 (ext. 846).