GIVING TO PRESERVE OUR DEMOCRACY
Giving to the Chiesman Center for Democracy can be done either directly or through a gift method that can provide tax benefits and even income.
A gift of cash is a simple and easy way for you to make a gift. You will receive a charitable tax deduction that will provide you with savings on this year's tax return.
Charitable Gift Annuity
You transfer your cash or appreciated property to the Chiesman Center for Democracy in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life (nearly all gift annuity rates beat current CD rates!).
You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with income for life or a term of years.
Charitable Annuity Trust
You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with fixed income for life or a term of years.
Sale and Unitrust
If you give a portion of your property to the Chiesman Center for Democracy to fund a charitable remainder trust, when the entire property sells, you receive cash and income for life.
On January 1, 2013, Congress passed legislation to avert the fiscal cliff. The law includes several important provisions that allow you to support the Chiesman Center for Democracy by using your Individual Retirement Account (IRA).
Charitable Lead Trust
You transfer your cash or property to fund a lead trust that makes gifts to the Chiesman Center for Democracy for a number of years. You receive a charitable deduction for the gift. Your family receives the remainder at substantial tax savings.
Honor a loved one or a family member by considering a gift to the Chiesman Center for Democracy in honor of that person. Any charitable gift you provide can be made in honor of someone. An outright gift can help our immediate needs or for a program/project. A gift through your will or living trust (full or in part) can also be used as well.
You designate the Chiesman Center for Democracy as the beneficiary of your asset by will, trust or other instrument (you can determine the amount or percentage of your asset to gift). (Sample language: “I give, devise and bequeath to the Chiesman Center for Democracy, Inc., a charitable organization whose current tax identification number is 27-5217305 (state percentage of estate or residue, sum of money or otherwise describe property) to be used for its general purposes.”)
A great way to support our work, even after your lifetime, is by naming us as beneficiary of your retirement plan, life insurance, annuity assets, or even the remaining amounts in your checking or savings account. Most assets can pass to your intended beneficiaries by the terms of your will. However, other assets, such as retirement plans, life insurance and annuities, are not controlled by the terms of your will. These assets instead require separate beneficiary forms.
When you make an endowed gift, your contribution is invested with and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact the fund will generate support in perpetuity. You can give cash, securities or other assets to an endowment you create. Or, you can contribute to our organization's established endowment.
Gift Your Home – And Still Live There For Life
Many would love to make a major gift to the Chiesman Center for Democracy but don't have the means to make such a gift today. If this is you, you may want to consider a charitable giving arrangement called a retained life estate. With a retained life estate, you deed a personal residence or farm to the Chiesman Center for Democracy now (and receive a considerable tax deduction). You retain the right to occupy the home for life and continue to pay real estate taxes, maintenance fees and insurance on the property. You can later decide to rent your home or make improvements to it. After your lifetime—and the lifetime of your spouse—we take possession of the property.
The Chiesman Center for Democracy staff would be happy to discuss any of the above giving options with you. This information is not intended as legal or tax advice.
As always, please consult with your financial and/or legal advisor.
Members of the Allene Chiesman Legacy Society include individuals and families who have included the Chiesman Center for Democracy in their estate plans. Just like Ms. Chiesman, Legacy Society members have recognized the importance of preserving our democracy through a bequest or other planned gift.
George Washington Circle - $7,500-$10,000
Thomas Jefferson Circle - $5,000-$7,499
John Adams Circle- $2,500-$4,999
James Madison Circle - $1,000-$2,499
Benjamin Franklin Circle - $500-$999
Alexander Hamilton Circle - $1-$499
The Chiesman Center for Democracy is an IRS approved, non-profit, 501c3 organization.
Tax I.D. #27-5217305