Special Gifts
Consider making a bequest to Citizens for Pets in Condos, Inc. in your will or living trust for a specified portion of your estate. Make us a beneficiary of part of your life insurance, pension, or 401K.
Have an IRA? Take Advantage of New Tax Laws to Help Animals! If you are over 70 and would like to make a special gift to the animals in 2007, you may be interested to learn about a recent update on tax laws that could make it easier.
In August, 2006, President Bush signed the Pension Protection Act of 2006. Under this Act, any donor who is 70 and 1/2 years old or older by the date of contribution may make a gift to their favorite charity from their IRA free of tax obligations. Before this new law, one had to report any amount taken from their IRA as taxable income. Then, if they wanted to make a charitable gift they could only take a deduction of up to 50% of their adjusted gross income. In effect, that caused some donors to pay more in income taxes than if they didn't make a gift at all!
Here are some ways to give through wills and trusts:
Leave a specific dollar amount
Designate that a percentage of your estate be given through your will or living trust.
Give only the remainder, or residue, of your estate—that which remains after bequests to loved ones have been made.
Provide for a gift of specific property-real estate, stocks or other items.
An individual may designate that a bequest be used for the general purposes of Citizens for Pets in Condos, Inc., or go to support a specific program. The following is a suggested form for such a bequest:
“I give and bequeath to Citizens for Pets in Condos, Inc., a not-for-profit corporation, with principal offices presently located at 4950 E Sabal Palm Blvd, Suite 109, Tamarc, FL, 33319-2686, the sum of $________, to be used for the accomplishment of its general purposes (or for a specific purpose, as indicated).” Our Federal Tax ID# is 20-5246982.
GIFTS OF RETIREMENT ASSETS
Retirement assets are one of the most beneficial gifts you can give to Citizens for Pets in Condos, Inc.
Contributions that have been made over the years to an IRA or other qualified plan have been growing tax-free within the plan. If left to an individual, these funds may be subject to both estate tax and income tax, which greatly reduces the value of the asset. If left to a charity, such taxes are usually avoided.
Your retirement plan’s administrator can provide a beneficiary form for you to name Citizens for Pets in Condos, Inc. as your sole or partial beneficiary. The information you will need to include about Citizens for Pets in Condos, Inc. is as follows:
Citizens for Pets in Condos, Inc.
4950 E Sabal Palm Blvd, #109
Tamarac, FL 33319-2686
Federal Tax ID# 20-5246982 For more information please contact Maida W. Genser, president of Citizens for Pets in Condos, Inc., at (954) 366-4555, or by email at maidawg@comcast.net.