Planned giving through AIDB Foundation's Reuben Asbury Society can be an important part of your overall estate plan allowing you to create a legacy for future generations. These gifts can reduce income, estate taxes and reduce the cost of probate on your estate. You can defer a gift to the AIDB Foundation in a number of ways today that create income for you and/or another beneficiary you name. You can establish planned gifts that cost nothing out of your pocket today.
We would be honored to talk with you about creating a planned giving strategy or long-term gift that could benefit generations of children and adults who are deaf and/or blind. Gifts made through the AIDB Foundation can support your choice of school, unit or program at AIDB. You might consider one or more of the following options:
You can help AIDB beyond your lifetime by remembering us in your will or trust. This is a thoughtful and widely-used method of giving that is appropriate for almost anyone. A bequest may provide for a specific dollar gift, a percentage of your estate, or specific asset(s) to be given to the AIDB Foundation in support of AIDB's various programs and endeavors. A bequest may also be in the form of a gift of the remaining assets of one’s estate. Bequests, like other gifts, can be designated for many purposes or given without restriction.
With a simple signature, you can designate the AIDB Foundation as the beneficiary of bank accounts, CD's or investment/brokerage accounts. Ask your financial institution for a POD (Payable on Death) or a TOD (Transfer on Death) beneficiary designation form.
Individual Retirement Accounts (IRAs), tax-sheltered annuities, Keogh plans, self-employed plans (SEPs), 401 (k), 403 (b) and other qualified pension and profit-sharing plans can also provide significant future support for AIDB. A donor needs to inform their retirement plan administrator that they wish to name the AIDB Foundation as a beneficiary of the plan in whole or in part. Qualified retirement savings can prove to be the most tax-efficient deferred gift and you do not have to use an attorney to establish the beneficiary designation.
IRA Rollover/Qualified Distribution
The Pension Protection Act of 2006 (PPA) permitted individuals to roll over up to $100,000 from an individual retirement account (IRA) directly to a qualifying charity without recognizing the assets transferred to the qualifying charity as income. While this initial provision expired on December 31, 2007, it has been extended several times. On December 18, 2015, the PATH Act made this special provision permanent.
The law uses the term “qualified charitable distribution”to describe an IRA charitable rollover. A qualified charitable distribution is money that individuals who are 70½ or older may direct from their traditional IRA to eligible charitable organizations. The provision has a cap of $100,000 for charitable distributions from individual IRAs each year. Individuals may exclude the amount distributed directly to an eligible charity from their gross income.
A donor may name Alabama Institute for Deaf and Blind Foundation as a beneficiary of an existing or new life insurance policy. Please contact the AIDB Advancement Office to discuss the ways life insurance can help you accomplish your philanthropic goals and secure significant future proceeds to the AIDB Foundation.
Charitable Remainder Trust
A charitable remainder trust (CRT) is 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.
This charitable giving strategy generates income and can enable you to pursue your philanthropic goals while also helping provide for living expenses. Charitable trusts can offer flexibility and some control over your intended charitable beneficiaries as well as lifetime income, thereby helping with retirement, estate planning and tax management.
Please contact the AIDB Advancement Office to discuss how a charitable remainder trust can help you accomplish your philanthropic goals and provide a future distribution benefiting the AIDB Foundation.
Charitable Gift Annuity
A charitable gift annuity is a simple agreement involving a non-profit in return for fixed payments for life. The payments are determined by age; the older a person is when he or she establishes a gift annuity, the larger the payment. Gift annuities can also be structured so that payments are deferred to a later date. If you defer the beginning of the payments, the amount of the charitable deduction is increased as well as the size of the payment.
Please contact the AIDB Advancement Office to discuss how a charitable gift annuity can help you accomplish your philanthropic and retirement goals.
When planning any gift, please use our legal name: The Alabama Institute for Deaf and Blind Foundation, Inc.
The information provided on this page is for illustration purposes only and should not be considered legal, tax, accounting or other professional advice. Please consult with your advisor(s) for more specific details.
For more information about planned giving opportunities please contact:
Elizabeth A. Ponder, MA, CFRE
Vice President of Institutional Advancement, AIDB
Executive Director, AIDB Foundation