There are many different forms of planned giving, from simple bequests, to more complicated trust agreements, all of which are designed to best meet your goals and individual situation. Should you wish to discuss or learn more about Planned Giving, please call 412-864-1300.
IRA Charitable Rollover Gift
Those over 70 ½ years of age may make a gift from their IRA minimum distribution or from their IRA principal of up to $100,000 per year without claiming the gift as income. Unneeded assets can be used for immediate charitable needs of The Eye & Ear Foundation and your spouse can use his/her IRA to make a similar gift each year.
Cash for Annual Fund or Campaign
Your gift can be designated to a specific area of research or to an area of greatest need. You can create a permanent endowed fund in your name or the name of a loved one. Receive an immediate tax deduction up to 50% of your adjusted gross income. See your gift working to benefit our work today.
Stocks, Bonds, Mutual Funds
Regardless of your cost basis, you can claim today’s value as the gift and receive an income tax deduction without paying capital gains tax. Benefits include an immediate tax deduction up to 30% of your adjusted gross income. The remainder can be carried over for five additional years.
Other Retirement Funds – Pre Tax Funds: 403BS & 401KS
Instruct your retirement plan custodian to distribute all or a percentage of these funds to The Eye & Ear Foundation after your lifetime and leave after-tax funds to heirs. Pre-tax fund assets can be left to the Eye & Ear Foundation with no estate or income tax consequences.
Charitable Gift Annuities
Provides income for life at a fixed rate based on your age. This donation/investment also provides tax-free income and an income tax deduction for you and another person. You can receive monthly, quarterly, semi-annual or annual distributions direct deposited to your account. The income for life is based on your age when you establish the annuity. Benefits include an immediate income tax deduction. Can use appreciated securities or cash for gift. Gift annuity provides tax free income.
Lead Trust – make a significant gift to the Institute over a period of years, or for your life. A Charitable Remainder Annuity Trust or Charitable Remainder Unitrust can provide a yearly stream of income for the donor. Remainder of the Lead Trust provides untaxed wealth for your heirs. The remainder of Annuity or Unitrust is left to the Foundation could create an endowed fund.
Life Insurance Gifts
Make The Eye & Ear Foundation the full or partial beneficiary of a paid-up or ongoing life insurance policy. Cash in an existing paid-up policy to make an outright gift or to create a charitable gift annuity. Gifts of life insurance pass outside your estate; no estate tax for heirs or charity. Policy taken out in name of charity provides tax deduction on premium payments.
Bequests – Through Your Will or Living Trust
Have your attorney make a provision in your will as follows: “I give, devise and bequeath $__ (specify amount or % of estate or % of the remainder) of estate to: The Eye & Ear Foundation, 203 Lothrop St., Pittsburgh, PA 15213.” Benefits include ownership of property or assets for life and no estate tax on bequests to charity. Government bonds may go to The Eye & Ear Foundation without being taxed.