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Your
gifts to the AAPG Foundation reflects your personal commitment to promoting
AAPG Foundation Programs and are greatly appreciated.
Please
consider the following giving options as you prepare to leave a lasting
legacy:
Bequest, Wills and Living
Trusts
After providing
for your loved ones, you may desire to support your choice of AAPG
Foundation Programs by designating a gift bequeathed through your
will. A gift to the AAPG Foundation can be a percentage of your estate,
a specified dollar amount or the residue of your estate.
Giving through
living trusts is another idea you may wish to consider. A simple amendment
to a living trust can be all that is required to arrange a gift to
the AAPG Foundation.
A bequest
can often be arranged with the simple addition of an amendment to
your existing will. Bequests to the AAPG Foundation may qualify for
an estate tax charitable deduction and currently represent a major
source of support for graduate students through the AAPG Foundation
Grants-in-Aid Program as well as other AAPG Foundation Programs.
Securities
Your stock
gift of appreciated securities which have long-term capital gains
and have been held for more than one year offer tax advantages, allows
you to claim a charitable contribution, avoid capital gains taxes
and reduce your estate. You pay no capital gains when the securities
are sold, therefore, the actual cost of the gift to you may be considerably
less than the value of the contribution to the AAPG Foundation, and
the amount of your tax deduction.
If you desire
to make a contribution in the form of a security, please advise your
broker of intent, and instruct him/her to contact the AAPG Foundation
office at (918)560-2644. When the transaction is complete, you will
receive a gift receipt indicating the date of the transaction and
value of shares received.
Real Property
If you own
property including personal residences, mountain lodges, condominiums,
cottages, farms, ranches, commercial buildings, land and real estate
that is not subject to a mortgage and has appreciated in value, a
charitable gift may be an option. Real Estate property can be transferred
by deeding the property to the AAPG Foundation or a gift of a personal
residence or farm with retained life tenancy. Real estate that has
appreciated in value which would be subject to long term capital gains
taxes earns a charitable income tax deduction for the fair market
value of the real estate on the date the gift is made. The actual
cost of the gift to you may be less than the value of the contribution
to the AAPG Foundation therefore your tax deduction is more than you
paid.
If the value
of property you own is valued at less than the original cost, it can
be beneficial to sell the property and donate the cash proceeds to
the AAPG Foundation. Then you may be able to claim tax benefits for
both the capital loss and the charitable gift, effectively deducting
more than the current value of the asset.
Retirement Plan Assets
By naming
the AAPG Foundation as beneficiary to your retirement plan, it can
be a convenient way to make a charitable gift while reducing both
estate and income taxes for your heirs. If your age is over 59-1/2
and you have more than adequate resources set aside for retirement,
it may be wise to use a portion of those funds to make charitable
gifts. If you wish to provide a loved one with income while also providing
for your charitable interests, retirement plans can be designated
to fund one of a number of special types of gifts that meet both objectives.
Life Insurance
When the
added protection of your insurance policy is no longer needed, transferring
your policy’s ownership to the AAPG Foundation can result in
tax benefits for you and a generous gift to the AAPG Foundation. As
an alternative, you may name the AAPG Foundation to receive all or
a portion of policy proceeds at death. Income and estate tax benefits
can result from such charitable gifts.
Charitable Gift Annuity
A charitable
gift annuity is ideal for donors who want a secure income for the
rest of their lives and promote their personal commitment to AAPG
Foundation Programs. A gift annuity provides an income tax deduction
for the charitable portion of the gift annuity. Cash gifts as well
as appreciated stock can be used to fund a gift annuity and can be
set up for any amount above $10,000. In exchange of your tax deductible
gift, the AAPG Foundation pays a fixed income to you that is based
on your age at the time of the gift. Annuity payments can be made
monthly, quarterly, semi-annually or annually. After your lifetime,
the remaining balance passes to the AAPG Foundation. We invite you
to contact the AAPG Foundation office, to receive a gift annuity analysis
and application form.
Please
remember to consult with your financial advisor, accountant or attorney
for specific tax related benefits applicable to your situation.
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