Other
ways to support our work
Because
CIP is recognized by the IRS as a 501(c)(3) non-profit, non-partisan
educational organization, in addition to tax-deductible cash
donations there are numerous other tax-advantaged ways to
support our work. Here are few of them:
Gifts
of Appreciated Securities
Do
you own stock that has appreciated in value over the years?
Are you concerned about paying a large capital gains tax should
you decide to sell the stock? Are you interested in helping
the Center for International Policy at the same time? If
so, a good alternative to selling the stock is to contribute
the stock to CIP.
Current
tax laws make it possible for you to make a charitable gift
of stock at a remarkably low after-tax cost. This tax savings
is achieved in two ways. First, you pay no capital gains
tax upon the transfer of stock to CIP. Second, you receive
an income tax charitable deduction for the full fair market
value of the stock on the date of the gift (assuming you
have held the stock for longer than twelve months).
Please
contact Frick Curry (202-232-3317 or frick@ciponline.org)
for more information on how to transfer stock to CIP.
We will provide you with full documentation for the IRS.
On
the other hand, if you own stock which has depreciated
in value, you also have two ways to save on taxes: 1) sell
the stock and declare the loss and 2) give the cash
proceeds to CIP as a fully tax deducible charitable donation!
Remember
CIP in your will
If
you would like to make a charitable gift to CIP with your
will, you should meet with your attorney to discuss and update
your will. Tell him or her exactly what you want to do.
There are a number of generally accepted ways to make such
a bequest which you should discuss with your attorney as you
prepare to update your will. The most simple and direct ways
to put CIP in your will are the following:
Specific
Bequests: These bequests are paid directly to CIP when
the donor’s estate is settled. They are fully deductible
for federal estate tax purposes. You can make a bequest to
CIP by creating a new will or adding a codicil to an existing
will. You and your attorney may want to consider the following
language:
I
hereby give, devise, and bequeath to the Center for International
Policy (Federal I.D. No. 52-1446207), a non-profit
corporation organized and operating under the laws of the
District of Columbia, (description of assets), to be used
for (gift restrictions, if any). The first insertion
may include a dollar amount or a specific item such as securities,
real estate, or art.
Residual
Bequests: You may also direct a percentage of your total
estate to CIP (keeping CIP's share proportional to other distributions)
or a percentage of your residual estate, the amount that remains
in your estate after payment of specific bequests and estate
expenses. When you designate your bequest to be a percentage
of your estate rather than a specific amount, your gift to
CIP can grow along with your estate. You and your attorney
may want to consider the following language:
I
hereby give, devise, and bequeath to the Center for International
Policy (Federal I.D. No. 52-1446207), a non-profit
corporation organized and operating under the laws of the
District of Columbia, an amount equal to ______ percent of
the value of my estate, to be used for (gift restrictions,
if any). I hereby give, devise, and bequeath to the Center
for International Policy (Federal I.D. No. 52-1446207),
a non-profit corporation organized and operating under the
laws of the District of Columbia, the rest and residue of
my estate, to be used for (gift restrictions, if any).
Contingent
Bequests: These bequests become effective only if the
donor outlives his or her primary heir(s). In such bequests,
CIP is a “safety valve,” sharing in the donor’s
estate only in the event of unforeseen circumstances. You
and your attorney may want to consider the following language:
If
____________ predeceases me, I hereby give, devise, and bequeath
to the Center for International Policy (Federal I.D. No. 52-1446207),
a non-profit corporation organized and operating under the
laws of the District of Columbia, (description of assets),
to be used for (gift restrictions, if any).
Gifts
of life insurance
Over
time, relatively small insurance premiums frequently build
up large cash values. Donors may receive charitable tax deductions
by making gifts of life insurance as follows:
•
Donate a fully paid-up policy, naming CIP as the owner and
beneficiary. The charitable deduction is equal to the cash
surrender value of the policy.
•
Donate a policy on which premiums are still owed, naming CIP
as owner and beneficiary. The immediate deduction is the
cash surrender value, as above. Additional deductions will
be generated if the donor chooses to make further premium
payments.
•
Purchase a new policy, naming CIP as irrevocable owner and
beneficiary. The donor will receive a charitable deduction
for each premium he or she pays.
Please
send us a copy of any life insurance policy made payable to
CIP and we will provide you with full documentation for the
IRS.
Please contact Frick Curry at (202) 232-3317 to discuss
these and other opportunities to include the Center
for International Policy in your estate plans.
The
information provided here is not intended as legal,
tax or investment advice. For such advice, please consult
an attorney, tax professional or investment professional.
