The Finger Lakes SPCA of Central New York does not intend to give legal or tax advice. If you decide to make a charitable contribution to our organization, please contact your legal or tax advisor to determine the gift that will meet your needs.
Bequests are the easiest and most common planned gift. With a bequest, you can leave all or part of your estate to the Finger Lakes SPCA of Central New York. Bequests can be a specific dollar amount or a percentage of your estate. General unrestricted bequests support our endowment. Funds are invested and ensure the future strength of our organization. Restricted bequests can also be made for specific programs or uses. For example, one supporter of the Shelter recently made a bequest to assist with upgrading of dog kennels and cat condos.
» Sample wording for an unrestricted bequest:
I give (% of my estate, or $ dollar amount, or specific property) to the Finger Lakes SPCA of Central New York (FLSPCA-CNY) located at 41 York Street, Auburn, NY 13021.
» Sample wording for a restricted gift:
I give (% of my estate, or $ dollar amount, or specific property) to The Finger Lakes SPCA of Central New York, located at 41 York Street, Auburn, NY 13021. I direct the Finger Lakes SPCA of Central New York to use my bequest to fund their spay/neuter program *.
*Please note: spay/neuter is only one of many programs that you might consider when making a restricted gift. Please call us to discuss your options.
Gifts of Real Estate
Gifts of real estate are often attractive alternatives to traditional gifts. When you make a gift, you can deduct the appraised value of the property from your income tax liability. You can also avoid capital gains liability, remove the property from your estate, and relieve yourself of any future management worries. However, there may be restrictions and you should contact your legal or tax advisor for an explanation of the limitations. By making a Retained Life Tenancy Gift, you can transfer the ownership of your residence or farm to The Finger Lakes SPCA of Central New York, but retain the right to use the property for life. Upon your death, The Finger Lakes SPCA of Central New York will use the property or proceeds from its sale to further our mission.
If you name the Finger Lakes SPCA of Central New York as the beneficiary of your Individual Retirement Account, 401(k), 403(b), or other qualified pension plan, your estate will receive a charitable deduction for the full amount of these funds. Retirement accounts can be heavily taxed and can significantly reduce the value of your account when given to an individual. By making a charitable gift, the tax burden on your estate may be reduced and your heirs may receive increased amounts from other assets set aside for them under your will.
Stock & Appreciated Assets
Using appreciated stocks to make a gift is often a tax efficient way of helping your favorite charity. By leaving the Finger Lakes SPCA of Central New York appreciated securities, shares in a mutual fund or other types of appreciated property, you can enjoy tax benefits and a charitable income tax deduction. By donating appreciated property instead of cash, you can usually deduct the current fair market value of the property and avoid capital gains tax on appreciation.
Income-Producing Gift Plans
Gift vehicles such as Charitable Remainder Trusts, Charitable Lead Trusts, and Charitable Gift Annuities can provide you or your heirs with income for life (or a term of years). These gift vehicles can be complex and should be designed by a professional to meet your needs.
Gifts of Personal Property
You may make a gift of personal property such as a work of art, antique or collection. These gifts are later sold with the proceeds going to support the work of the Finger Lakes SPCA of Central New York. In most cases, you will be entitled to a charitable income deduction for the original cost of the gift.
Gifts of Life Insurance
You can designate the Finger Lakes SPCA of Central New York as the beneficiary of your life insurance policy established as a gift and enjoy income tax deductions for the gift. You can also name the Finger Lakes SPCA of Central New York as a successor beneficiary in case of the death of the primary beneficiary named in the policy. If you do decide to make a charitable gift using your insurance policy, keep this information in your estate plan file where your executor will be aware of the gift at the time of your death. Many donors choose to use life insurance to make a gift because it allows them to make a gift much larger than they thought possible.
You are also welcome to make an endowed gift to establish a named fund for a program that is particularly important to you or your family. For example, you could choose to set up a fund to support our law enforcement or community education programs.