Featured Quick Facts: Charitable Gift Annuities
Audubon Alaska offers our donors several simple, flexible, tax-advantaged options for combining philanthropy and financial planning.
Why consider a planned gift? Bart and Julie Koehler, who have named Audubon Alaska in their will, say, "It’s a comfort to know that even after we go, conservation work will continue because we gave." (Read the full interview with the Koehlers below.)
By making a planned gift to Audubon Alaska, you may be able to contribute more to conservation than you thought possible, while also receiving favorable financial and/or tax benefits.
You can support Audubon’s work and invest in Alaska’s birds, other wildlife, and habitats in any of the following ways:
- Include a bequest to Audubon Alaska in your will.
- Name Audubon Alaska as a beneficiary of your IRA or other qualified retirement plan.
- Make a charitable gift annuity, which gives you guaranteed income for life in exchange for your current gift of cash or stocks.
- Supplement your retirement income with a flexible gift annuity.
- Make a gift through a charitable remainder unitrust to earn income for life or a specific term.
Bequests have been an important source of support for Audubon since the beginning of our movement. We urge you to have your will prepared by an attorney who is knowledgeable in estate planning and who is familiar with the laws of the state in which you reside. If your will is already prepared, you may not have to rewrite the document to include Audubon Alaska; your attorney may be able to simply add an amendment, called a codicil.
Please share the following paragraph with your attorney to make sure that your bequest is applied to our work in Alaska:
“I bequeath ___% of my residuary estate (or $____) to the National Audubon Society, Inc. (“Audubon”), a not-for-profit environmental conservation organization, with its principal office located at 225 Varick Street, 7th Floor, New York, NY, 10014. This bequest shall be applied to Audubon’s Alaska state office (known as “Audubon Alaska”) for its ongoing programs in environmental conservation.”
Gifts of Retirement Assets
IRAs do not avoid taxes, only defer them. If your retirement plan assets go into your estate, they will be subject to income tax and estate tax. Retirement plan assets that go directly to charity avoid income and estate taxes.
You can name Audubon Alaska as a beneficiary of all or part of the assets remaining in your IRA or other retirement plan by requesting a beneficiary designation form from your plan's sponsor. Please be sure to use our legal name (below) and to keep a copy of your beneficiary designation form with your will.
National Audubon Society, Inc.
Alaska State Office
Tax ID Number: 13-1624102
Charitable Gift Annuities
A gift annuity is a simple contract in which Audubon agrees to pay you guaranteed income for life in exchange for your current gift of cash or stocks. If you name a spouse or partner as a second annuitant, Audubon will make payments to you jointly and then to the last survivor for her or his lifetime. Your income, based on your age at the time you make your gift, will never change and is written into the contract, protecting you from changes in market conditions and interest rates. After your lifetime and the life of your joint annuitant, Audubon Alaska will use the amount remaining to support our conservation programs.
There are definite tax advantages to gift annuities. You will receive an immediate income tax deduction for part of the donated amount, and you will avoid some income taxes because part of your annuity payments will be tax-free. Also, if you donate stock, you will avoid some capital gains tax. The minimum age is 70, and the minimum gift amount is $25,000. To learn more, visit National Audubon's page on charitable gift annuities; you can also call (907) 276-7034.
Flexible Gift Annuities
A flexible or deferred gift annuity is like the charitable gift annuity described above, except that the start of payments is deferred until a mutually-agreed-upon-date in the future. In exchange for deferring payments, you would receive a higher payout rate and a larger immediate income tax deduction than you would receive with an immediate payment annuity. Deferred payment annuities are great for professionals who have fully funded retirement plans and want to receive immediate tax savings. The minimum gift amount is $25,000, and donors must be at least 70 years old at the commencement of annuity payments. To learn more, visit National Audubon's page on flexible gift annuities; you can also call (907) 276-7034.
Charitable Remainder Unitrusts
We can help you plan a charitable remainder unitrust, another giving technique by which you can support Audubon Alaska's conservation work while earning tax savings and income for you or your beneficiaries. Charitable remainder unitrusts are more flexible than other planned gift vehicles. For example, you can select, within certain limits, the payout rate to be the basis of your income, and you can elect to receive income for life or for a specific length of time. You can postpone the start of your income until a specific date or until some event (such as retirement or the sale of real property). And you can donate cash, securities, or appreciated real estate if it is not subject to a lien or mortgage. When the trust ends, the principal passes to Audubon Alaska to fund its conservation programs. Since charitable remainder unitrusts are so flexible, the best way to explore how they might work for you is to talk with us about your goals and the assets you'd use to fund such a trust. To learn more, visit National Audubon's page on charitable remainder unitrusts; you can also call (907) 276-7034.
You can receive a personalized illustration from Audubon showing the income you would earn and the tax savings you would receive by making a planned gift to the Alaska state office. All information is kept completely confidential, and there is no commitment to give by requesting an illustration.
To request a personal illustration, complete our online form, or contact:
431 West Seventh Avenue, Suite 101
Anchorage, AK 99501