Insight for the Blind will be happy to answer any questions you might have about the different types of gifting opportunities, but we do not give tax advice. We suggest that, before making any charitable gift, you consult your tax advisor.
Cash gifts are the quickest and easiest gifts to give and Insight for the Blind gratefully accepts contributions made by cash, check, or credit card by using our secure web site. Please make checks payable to Insight for the Blind and mail to 1401 NE 4th Avenue Fort Lauderdale, FL 33304-1033.
Many companies offer matches for gifts made to nonprofit organizations by the employee (and, sometimes, the spouse of the employee). These gifts are a great way to increase your contribution to Insight for the Blind. Please inquire whether your company offers a matching gift program and secure the necessary forms to include with your gift. And either mail them or contact Les Davies for an email address.
Friends and supporters of Insight for the Blind play a vital role in ensuring the organization's future and financial health.
Our financial services professionals can help you create an immediate or deferred gift plan that will best express your desire to benefit Insight for the Blind, at the same time fulfilling your personal financial goals. We are available to meet with you and your financial advisor to answer your questions, provide tax assistance, and help answer bequest and beneficiary questions.
A properly designed gift can
• Save taxes in three simultaneous ways
• Build a brighter future for your children
• Provide life-long income
• Convert low-yielding assets into a higher income stream
• Reduce or eliminate taxes on capital gains
• Generate a substantial federal income tax deduction
• Eliminate or reduce federal estate taxes
Gifts of appreciated stocks or bonds have the same positive benefit to Insight as a gift of cash; however, a gift of securities is usually more beneficial to you, the donor, than a gift of cash.
With a gift of marketable securities that have been held longer than one year, you receive a charitable deduction of the full fair market value (FMV) of the securities. The FMV is determined by the average of the high and low sales prices of the stocks on the gift date. You may apply the gift as a deduction up to 30 percent of your adjusted gross income (AGI) in the case of securities and avoid gift and estate taxes as with gifts of cash. In addition you avoid paying any capital-gains taxes on the appreciation in the value of the securities. This can be a major benefit to you if you have held securities over a number of years and they have grown in value.
You receive a charitable deduction for the FMV of any unencumbered real estate. You may apply the deduction up to 30 percent of your AGI in the year of the gift with the five-year, carry-over provision. You avoid capital-gains taxes on the appreciation you have in the property. There are no gift taxes, and you have removed the property from your estate, thereby reducing your estate taxes.
Almost any type of real estate may be contributed such as undeveloped land, farms, commercial buildings, vacation homes, or your residence.
Potential gifts of real estate are evaluated on a case-by-case basis before acceptance. Insight must consider insurance, environmental issues, maintenance, property-tax liability, and other potential risk factors including special tax provisions that apply to certain types of real estate.
One of the easiest ways in which to make a gift to Insight for the Blind is by leaving a bequest in your Will.There are several ways you can do this. You can (1) give a specific amount of money to Insight; (2) give a specific item of property to Insight; or (3) give a specified percentage of the residue of your estate (the residue of your estate is that which is left over after all specific gifts have been made, whether charitable or non-charitable, and estate taxes are paid).
Two forms of life insurance are typically donated. They are paid-up whole and universal life- insurance policies and newly issued whole and universal life-insurance policies. A paid-up policy has a cash value that may be used immediately if necessary by Insight for the Blind.
Taking out a new whole life or universal life insurance policy is one way to make a significant gift. The policy may be structured such that you only pay premiums for approximately 10 years and each year's premium payment is tax-deductible. If you are considering such a life-insurance policy, we suggest you contact Insight first. Of course many “Legacy Donors” get started in this type of support for Insight by simply naming Insight as a beneficiary or co-beneficiary on their company sponsored or other existing insurance policy.
If you pay any further premiums, those payments are also tax-deductible. Payments in the amount of the premium should be paid to INSIGHT. We will then pay the insurance company premiums.
Charitable-Remainder Trusts are basically similar to the Pooled-Income Fund. There are two main types of Charitable-Remainder Trusts. They are Annuity Trusts and Unitrusts. With both types of trusts you receive a charitable contribution income tax deduction based on your life expectancy. You also avoid capital-gains taxes on the sale of appreciated securities or real estate, and you reduce potential estate taxes. The main difference between the two types of Charitable-Remainder Trusts is the way your annual income from the trust is determined.
This is perhaps the easiest way in which to support Insight for the Blind and it doesn’t cost you anything. Every time you use your favorite online shopping site including Amazon, Macy’s, Omaha Steaks, and hundreds of others, just be sure to go online through the iGive web site. On your first visit you will need to make a quick and convenient sign in as a supporter of Insight for the Blind, and from then on Insight will get a percentage of every purchase you make from online shopping sites that are always secure. You can even list your favorite sites with iGive to make it just that much easier.