Planned Giving FAQs
What is a planned gift?
A planned gift is one that a donor makes now to be allocated for the future. These donors at the Atlanta Humane Society are members of the 1873 Founder’s Society.
How can I make a planned gift to Atlanta Humane?
The most common way of making a planned gift is by designating the Atlanta Humane Society as a beneficiary in your will. Other options include designating Atlanta Humane as a beneficiary of your retirement plan or life insurance policy. You can also make a planned gift through an Endowment Fund, Charitable Gift Annuity (CGA), Charitable Remainder Trust (CRT), Individual Retirement Account (IRA), Charitable Lead Trust (CLT), Qualified Charitable Distribution (QCD), and a Donor-Advised Fund (DAF).
How do I benefit from a planned gift?
A planned gift allows you to leave love as your legacy and secure the future of compassionate, quality life-saving services for animals without giving away any of your assets today. You can also qualify for a variety of tax benefits depending on how you fund your gift. When considering a planned gift, it is recommended to consult with your financial planner or tax adviser to determine the exact tax advantages.
How does Atlanta Humane benefit from a planned gift?
A planned gift helps ensure that we can continue with our transformative mission to improve animal welfare in the southeastern United States by providing quality animal services, including preventative initiatives, education, advocacy, and adoption of animals into permanent loving homes now and well into the future.
How do I name Atlanta Humane in my will?
For an unrestricted gift that allows the Atlanta Humane Society to determine how to use the funds based on the most pressing needs, use the following language for your will and/or trust:
“I give to Atlanta Humane Society and SPCA of Georgia, a nonprofit corporation currently located at 1551 Perry Boulevard NW, Atlanta, GA 30318, or its successor thereto, _________ [written amount or percentage of the estate or description of property] for its unrestricted charitable use and purpose.”
To designate your provision for a particular purpose:
“I give to Atlanta Humane Society and SPCA of Georgia, a nonprofit corporation currently located at 1551 Perry Boulevard NW, Atlanta, GA 30318, or its successor thereto, _________ [written amount or percentage of the estate or description of property]. This gift should be used for (state purpose) if and so long as Atlanta Humane Society and SPCA of Georgia determines that the need exists. If Atlanta Humane Society and SPCA of Georgia shall determine at the outset or at a later time that the need does not exist, or no longer exists or for some reason it is not possible (or prudent) to administer my gift as originally intended, then Atlanta Humane Society and SPCA of Georgia may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”
Planned Giving Terms Glossary
Beneficiary: An individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust, or retirement plan.
Bequest: A gift of property or assets to a beneficiary as defined in a will.
Charitable Gift Annuity (CGA): A contract between a donor and a charity with the following terms: As a donor, you make a sizable gift to charity using cash, securities or possibly other assets. In return, you become eligible to take a partial tax deduction for your donation, plus you receive a fixed stream of income from the charity for the rest of your life.
Charitable Lead Trust (CLT): An irrevocable trust designed to provide financial support to one or more charities for a period, with the remaining assets eventually going to family members or other beneficiaries.
Charitable Remainder Trust (CRT): An irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities.
Donor-Advised Fund (DAF): A giving account established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. Donors can contribute to the fund as frequently as they like, and then recommend grants to their favorite charitable organizations whenever it makes sense for them.
Endowment Fund: Money invested to earn revenue to fund some type of charitable activity, while the investment earnings can be distributable dollars used for charitable grants to nonprofits. Thus, an endowment fund can be held permanently, allowing donors to support causes in perpetuity.
Estate: All the real or personal property in which a person has a right or interest.
Executor: The person named in a will to administer the estate. Also called “Personal Representative” in some states.
Individual Retirement Account (IRA): An account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.
Qualified Charitable Distribution (QCD): Allows individuals who are 70½ years old or older to donate up to $100,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions.
Retirement Accounts: Qualified plans like IRAs and 401(k) accounts that permit individuals to accumulate savings tax-free for retirement. It is possible to make a planned gift by naming a charity as beneficiary of a retirement account.
Secondary Beneficiary: The person named in a gift agreement to receive the life income payments should the primary beneficiary predecease him or her.
Trust: A relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. When someone creates a trust, they put their money or property into it to be managed by a trustee for the benefit of a beneficiary.
Trust Distribution: When the trustee gives the beneficiary the money or property that belongs to them according to the terms of the trust.
Will: The legal declaration of a person’s wishes as to the disposition of the person’s property, to be performed or take effect after the person’s death.