Supporting JTC > Planned Giving
Planned giving is a way to make charitable contributions as part of your estate planning. Through a planned gift, you may take advantage of state and federal law to eliminate or reduce income taxes, capital gains taxes, estate taxes, and “generation skipping” taxes – maximizing your financial goals and security, while making a contribution to support the vital work of John Tracy Clinic. All donors of planned gifts are invited to join the Louise Tracy Heritage Benefactors.
The Louise Tracy Heritage Benefactors
The Louise Tracy Heritage Benefactors is a group of people who have chosen to make a contribution in support of John Tracy Clinic families of children with hearing loss in their wills, trusts, or estate plans. These estate gifts create a legacy, which often reflects a lifetime of support, and are critical in sustaining the future of John Tracy Clinic.
Benefactors are honored with a personalized certificate of membership and a JTC lapel pin as a reminder to others of your support for our mission. Your gift can be recognized publicly, unless you prefer to give anonymously.
As a way to keep Louise Tracy Heritage Benefactors informed about JTC initiatives, achievements and challenges Benefactors also receive exclusive Clinic tours, invitations to the semi-annual recognition luncheon and to other special events, and the Bulletin newsletter as well as special communications for members. As a member, you also have the satisfaction of knowing that you have created a meaningful legacy in support of the families served by John Tracy Clinic.
New members are always welcome. If you have already arranged for a bequest or other planned gift, we would like to honor your support. Please advise us of your gift and become a member of the Louise Tracy Heritage Benefactors. If you are considering a planned gift, John Tracy Clinic provides information and assistance on a confidential basis to donors – and to their advisors – to illustrate how to complete your gift in a way that benefits your estate goals and clarifies your intention to help John Tracy Clinic. Please contact us if you have a question or would like more information about the Louise Tracy Heritage Benefactors.
Wills and Bequests
Wills, trusts and bequests are some of the best ways you can make sure that the Clinic’s mission will continue for generations to come. A valid, up-to-date will is the foundation of estate planning, providing peace of mind and an effective way to provide for your family’s security, reduce the value of your estate for tax purposes, and make charitable provisions. If you already have a will, you can contribute simply by adding a codicil, or amendment, to the document. A will or bequest in any amount can help continue JTC’s mission to provide vital services, free of charge, to our families.
Some individuals may establish a living trust in lieu of a will; a distribution through a trust is comparable to a bequest. A trust or bequest can provide for a charitable organization whose work you value; through a charitable bequest, you can demonstrate your compassion and commitment.
With a bequest to John Tracy Clinic you can help continue our mission to provide vital services to families of children who are deaf or have experienced hearing loss – to assist these children reach their highest potential, learning to communicate with and perform on a level matching their hearing peers.
Bequests may give a specific dollar amount or a specific asset to John Tracy Clinic; a percentage of the balance of your estate after taxes, expenses, and other specific bequests have been made; or contingently if an individual beneficiary is not able to inherit.
Sample language for a bequest to John Tracy Clinic:
“I give John Tracy Clinic, 806 W. Adams St., Los Angeles, California the sum of $25,000.” Or, “I give John Tracy Clinic, 806 W. Adams St., Los Angeles, California all my shares of Microsoft stock.”
“I give twenty-five percent (25%) of the residue of my estate to John Tracy Clinic, 806 W. Adams St., Los Angeles, California.”
“If my sister does not survive me or is unable to inherit this bequest, I direct that it be given to John Tracy Clinic, 806 W. Adams St., Los Angeles.”
You may designate your gift, if you wish, to a specific program or purpose at John Tracy Clinic; otherwise, the Clinic will use your gift for general operations in the area of greatest need.
Gift Annuities
A charitable gift annuity to John Tracy Clinic is a contract that provides the donor a guaranteed income for life. The contract transfers cash or securities from the donor to the charity, and the charity makes fixed annual payments to one or two beneficiaries for life. Regardless of interest rates or the performance of the stock market over time, the annual payments to beneficiaries remain constant; the fixed payouts are guaranteed by John Tracy Clinic through a partnership with the California Community Foundation, through which the assets are secured. After satisfying the lifetime income obligation to the donor, the Clinic would receive any remaining funds.
Such a simple contract guarantees a donor a fixed income for life (part of which is tax-free income) with an immediate tax deduction. Rates for a charitable gift annuity – based on several factors, including the size of the contribution and the age the beneficiary – range from 5.4% to 11.3%.
A charitable gift annuity is a contract between an individual and a charity that provides the donor (and, at the donor’s option, a second beneficiary) a guaranteed income for life. The contract transfers cash or securities from the donor to the charity; the charity makes fixed annual payments to one or two beneficiaries for life or a specified term (up to 20 years).
- A contract between donor and charity
- Provides donor (or up to two beneficiaries the donor names) a guaranteed income for life
- Charity receives any remaining amount of initial investment after satisfying the lifetime income obligation.
What is a Charitable Gift Annuity?
What are the benefits of a charitable gift annuity?
- Simple contract that provides a guaranteed fixed income for life
- Immediate tax deduction
- Rates ranging from 5.4% to 11.3% based on age
- Receive partially tax-free income
- Defer capital gains tax on appreciated assets
- Support the mission of John Tracy Clinic
What are the interest rates?
As of July 1, 2008 the rates recomended by the American Council on Gift Annuities for a single life charitable gift annuity:
Age Rate 60
65
70
75
80
85
905.5%
5.7%
6.1%
6.7%
7.6%
8.9%
10.5%
John Tracy Clinic offers charitable gift annuities through a partnership with the California Community Foundation. Annual payments are secured by the assets of the California Community Foundation.
It is also possible to benefit John Tracy Clinic through a charitable remainder trust. Either a charitable gift annuity or a charitable remainder trust may serve to provide for someone else, such a surviving spouse or an elderly parent – without the delay and expense of probate proceedings. These giving options may appeal to retirees who want to increase their income, secure guaranteed payments, and save on their taxes.
Planned Giving DecisionsThe Development and Communications Office at John Tracy Clinic would be pleased to provide additional information and assistance on a confidential basis regarding planned giving options to benefit our charitable mission. No representatives of John Tracy Clinic offer financial or legal advice. We strongly advise prospective donors to consult with their attorney, tax accountant or other trusted financial advisor before making any planned giving decisions.
Contact:
Dottie Blake 213-748-5481 ext. 261