| Creating a lasting and
meaningful legacy for the donor, planned gifts are an
important tool for effectively using one's wealth to help
advance a worthy foundation like NJPF. A planned gift
also can bring immediate tax benefits to the donor while
simultaneously benefiting NJPF's mission and programs in
perpetuity. Here
are some popular planned ideas:
Bequests
- A gift made through a will is called a bequest. When a
gift is made to the NJPF through a will, the estate
receives a charitable estate tax deduction.
Charitable
Gift Annuity - An NJPF Gift Annuity is a
contract between the New Jersey Press Foundation and
the donor. In return for a contribution of cash or other
appropriate assets, NJPF agrees to pay the donor (or
someone else of their choosing) a fixed income for life.
The donor enjoys a charitable tax deduction and, if the
gift is made with appreciated stock, may also enjoy
capital gains tax savings. Deferred gift annuities, in
which the income is deferred for a number of years, are
often established by younger donors.
Charitable
Trusts - There are several types of charitable
trusts, including the Charitable Remainder Trust and the
Charitable Lead Trust. All offer attractive tax benefits.
Insurance
- A cash value life insurance policy that is no longer
needed can be contributed to the NJPF, and may be used to
establish a Charitable Gift Annuity. An individual may
also purchase a life insurance policy and make NJPF the
irrevocable owner and beneficiary. A charitable income
tax deduction may be taken for the premiums.
Retained Life
Estate - A personal residence may be given to
NJPF with the donor retaining the right to live there for
the remainder of his or her life. The donor will receive
an income tax deduction for the gift. At the end of the
donor's life, the foundation may utilize or sell the
donated property.
Before making a
significant gift to any organization, donors are
encouraged to consult with a financial advisor or
attorney.
NJPF is a 501(c)3 charitable organization.
To strengthen and grow the foundation's impact, we need
help through your active, continuing financial support.
NJPF seeks and values all gifts regardless of the
amount.
For assistance or more information on
how you can help NJPF fulfill its mission with a planned
gift, please contact Foundation Director George White,
609-406-0600, ext. 30 or gwhite@njpa.org.
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