Minimize your capital gains tax liability and change the life of a child forever.  If you own appreciated security, please consider a contribution to Variety the Children’s Charity of St. Louis and consult your tax and/or financial advisors to determine whether such a charitable contribution fits within your financial/tax plan.

This type of gift holds many benefits, including an income tax deduction based on the full fair-market value of the stock on the date of contribution, and avoidance of capital gain upon a subsequent sale of the stock by Variety.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh at (412) 747-2680 or email celia@varietypittsburgh.org.

By making a charitable donation from your IRA, you enable Variety the Children’s Charity of Pittsburgh to provide durable medical equipment for children with mental and physical disabilities throughout southwestern Pennsylvania.

Under the IRA Charitable Rollover Provision, an individual 70 ½ and older can make charitable donations of up to $100,000 directly from IRA and Roth IRA accounts without having to count the distributions as taxable income.  Furthermore, eligible IRA owners can use these charitable gifts to satisfy their annual minimum distribution requirement.

The IRA Charitable Rollover Provision is available on contributions made until December 31, 2009.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh at (412) 747-2680 or email celia@varietypittsburgh.org

One of the most common planned gifts is a bequest, whereby a donor bequeaths a gift to a charitable organization in his or her Will. The gift may be designated as a percentage of the donor’s estate, a specific dollar amount or description of property, a residual of the donor’s estate or contingent upon a certain event happening. Estate taxes are reduced by the value of the gift to the charitable organization.

Making a charitable bequest in your Will is one of the ways to leave a legacy to Variety’s children lasting beyond your lifetime. The importance of having a Will cannot be over-stated. This is vital for your own estate administration and peace of mind.

You may bequeath cash, securities, real estate and other assets to a charitable organization. The value of such a legacy is deductible from the estate of the donor. It is also possible to establish a charitable remainder trust by means of a Will and obtain estate tax advantages. If you do not wish to redraft your entire Will, you may add a codicil. The codicil retains all of the provisions of your existing Will, and incorporates any additions or modifications.

Making a Will is your privilege, your obligation, and your opportunity. You have spent your lifetime acquiring the assets that form your estate. Under law you have the privilege of determining how this estate should be used after your death. Making a Will is also an opportunity to continue to support the interests, concerns and values you developed during your lifetime. Variety the Children’s Charity encourages you to have a valid Will and to consider making a bequest that will help to influence the future endeavors of Variety. Representatives of Variety are available to discuss bequest forms or other estate and inheritance matters and tax savings with you and/or your attorney. All discussions are, of course, strictly confidential.

Here is an example of a paragraph that can be used in your Will:
" . . . to pay to Variety the Children’s Charity of Pittsburgh the sum of $__________ or a ____% share of my estate, to be used for children with disabilities living in southwestern Pennsylvania as Variety the Children’s Charity of Pittsburgh and its Board of Directors determine."

A convenient and relatively inexpensive way for a donor to leave a significant gift to a charitable organization is with a life insurance policy.

A new policy may be taken out on the life of a younger donor to "create" a major, deferred gift to a charity with the cost of the premium being a small fraction of the face value of the policy.

Donors may also have existing policies that are no longer needed for their original purposes (to assure a child’s education). As your circumstances change, the family grows up and children leave home and marry. It is possible that life insurance policies that were once important safety nets may no longer be needed. If you can make Variety the Children's Charity of Pittsburgh the owner and beneficiary of such a policy, you are entitled to a charitable donation receipt for the value of the policy - normally the cash surrender value.

With a change of policy ownership and beneficiary to the charitable organization, the donor can contribute the premium amount to the charity and the policy’s face value can be maintained, or, if the donor chooses not to continue payments, the cash value or "paid up insurance" value can be significant. Donors’ tax deductions are equal to their cash/replacement value or premiums paid, depending on the type of policy.

Also, you can name Variety as the beneficiary of a policy but still retain ownership. Of course, when you retain ownership you are not entitled to a donation receipt for the current value, nor will the proceeds paid to Variety result in tax benefits to your estate.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh at (412) 747-2680 or email celia@varietypittsburgh.org

If you have a significant gift or an asset that you have considered leaving to Variety the Children's Charity of Pittsburgh in your Will, but would like to retain the income and receive a tax benefit now, then a charitable remainder trust may be your answer.

In establishing a charitable remainder unitrust, the donor receives a variable income from the gift for the rest of his or her life. The income to the donor is based on a specified percent of the trust principal, revalued each year, reflecting any increases in the value of the trust’s assets. More than one person may receive income. The trust assets become the property of the charitable organization upon the donor’s death, or, in a pre-established time period. Additional contributions can be made to the trust. Income tax deductions for the donor are based on present value of remainder interest going to the charitable organization.

A unitrust has the same benefits of an annuity trust except the payout is a fixed percentage of the changing value of the trust’s assets. Additional contributions are allowed to a unitrust. Since the amount paid varies with the value of the trust assets, a remainder unitrust is a good hedge against inflation.

With a charitable remainder annuity trust, the donor irrevocably transfers property (cash, securities, real estate) to a trustee. This is similar to a unitrust except that the donor and second beneficiary (if one is named) receives a fixed income from the gift for the rest or his or her life, the income amount is based on the original value of the trust’s assets and no future contributions can be made to this type of trust.

The income is a fixed sum for the life of the trust and may be taxed favorably to the donor (or other beneficiary). Upon the death of the donor (and named second beneficiary), the assets of the trust become the property of the charitable organization.

Benefits to you:

• You receive an immediate tax receipt for the present value of the donated assets in trust.
• You receive an annual income from the assets in the trust. In the case of a gift of residual interest, you retain the use of the gift for the rest of your life.
• Irrevocable trusts are not included in the value of your estate and are not subject to probate taxes.
• Gifts of appreciated property can be structured to avoid capital
  gains tax.

An Everlasting Gift: An endowment is a charitable gift made in your lifetime or bequeathed in your Will, which by written agreement provides a never-ending source of income to Variety. Naming your endowment in honor of your family or a loved one provides future support for Variety's special needs children far beyond your lifetime. Financial support is drawn from the income generated by the initial donation and allocated according to the donor's specifications. The principal of your gift remains untouched in perpetuity.

An Enduring Tribute: Creating your own 'named' endowment that carries the name of the person or persons for whom it is established provides perpetual funds for your charitable wishes. The minimum gift to establish a named endowment is $10,000. An endowment is a special and meaningful way to create a permanent remembrance for a loved one, or to ensure that you will meet your long-term philanthropic goal of helping children with special needs through Variety.

Your Generosity Deserves Special Recognition: Variety the Children’s Charity would not be known as a leading children's charity in southwestern Pennsylvania, without the caring generosity of our benefactors who are blessed with the foresight, compassion and the means to pass on their commitment. We share enormous satisfaction with our donors in being able to bring this support to our children with special needs.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh, at (412) 747-2680 or email celia@varietypittsburgh.org

Charitable "gifts in kind" other than cash, include property, real estate or shares in publicly traded securities. These donor options can play a significant part in the financial planning of your estate and result in significant tax advantages.

They can be used as an outright charitable gift, or to fund a charitable remainder trust or endowment. For instance, charitable gifts of publicly traded securities, such as stocks, bonds and mutual funds are now treated more advantageously for capital gain tax purposes, than if you sold them yourself and donated the money to Variety.

When considering charitable gifts of this nature, be sure to consult a financial advisor and a representative from Variety the Children’s Charity of Pittsburgh. This will ensure the best advice for your circumstances, and the right way to implement your gift to Variety.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh, at (412) 747-2680 or email celia@varietypittsburgh.org

A charitable gift tax receipt can be issued for all of the types of donations covered in these gift planning information web pages. It may also represent sizeable tax benefits to you, your estate and your beneficiaries as described in your Will.
When making a charitable donation of life insurance, charitable remainder trusts and endowments to Variety the Children's Charity of Pittsburgh, you will be given a charitable tax receipt and will receive significant benefits in your tax and estate planning.

As with all financial planning matters, we recommend that you consult a professional financial consultant, lawyer, notary public or tax advisor for the best options to suit your personal circumstances. The small amount you will invest now to have your Will drawn properly by a legal professional is one of the most cost-effective uses of money you will expend.

At Variety the Children's Charity of Pittsburgh we protect the privacy of your information. Names and address are never traded or sold in lists, and your financial information is never divulged or maintained for any purpose other than the Internal Revenue Service.

For more information in confidence, please contact Celia A. Hindes, CFRE, Executive Director, Variety the Children’s Charity of Pittsburgh, at (412) 747-2680 or email celia@varietypittsburgh.org.