Charitable Remainder Trusts – Leave the world a better place.
Are you thinking of cashing in some of your stocks or mutual funds? Do you have a vacant lot, a vacation home, farm, or some other piece of real estate you no longer need? Whether securities or real estate, if you've owned the asset for more than a year and the value is higher than your cost, you may want to consider placing the property in a charitable trust.
The trustee of a charitable trust can sell appreciated assets without incurring tax on the capital gain. Then the entire proceeds, less closing costs, are invested to provide a flow of income to you and/or your family as income beneficiary(ies) of the trust. At the end of the trust, normally upon the death of the income recipient(s), whatever is left will then be distributed to the charity(ies) you name in the trust.
Were you to sell your property yourself a significant amount of the sale proceeds could be lost to taxes. But with a charitable trust, the full proceeds are invested to meet the goals of the trust. Think of the extra income this could mean to you during your lifetime. The beautiful thing is that you can make a deferred gift to Conservation Corps North Bay and still provide income for yourself and your family. You also get an immediate income tax deduction and avoid capital gains tax and save estate tax.
What Assets Can I Use?
- Cash & Personal Property
- Stocks & Bonds
- Livestock
- Real Estate
- Family Business
- Retirement Plans & Life Insurance
Your plan administrator may require the following information: Conservation Corps North Bay is a "California nonprofit public benefit foundation," incorporated in the State of California on February 6, 1985, and is classified as tax-exempt under Internal Revenue Code 501(c)(3). The tax identification number for Conservation Corps North Bay is 94-2831592.
Before making a donation to Conservation Corps North Bay, we recommend that you consult your advisor or attorney for full advice on the effect of your gift.
To donate appreciated securities by mail or fax, please download Transferring Stock Options [PDF] from our Forms Directory and send it to us at CCNB, 27 Larkspur Street, San Rafael, CA 94901 or by fax to (415) 454-4595.
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