Many people have demonstrated their special commitment to children by establishing life income arrangements or by including the ASPN Foundation in their wills and estate plans.
Whether you wish to pass assets to your heirs, reduce income taxes, avoid capital gains, or simply turn a modest contribution into an extraordinary one, the ASPN Foundation Endowment can provide an opportunity that is right for you.
By contributing cash, or securities through a will, the donor receives the following benefits:
- the avoidance of estate taxes
- and probate for the contribution;
- and the flexibility to alter the will according to changing needs and circumstances.
Charitable Remainder Trust
By irrevocably transferring assets to a trust and naming the ASPN Foundation as the trust’s beneficiary, the donor receives the following benefits:
- annual income payment for life, which can be either a fixed amount (annuity trust) or a variable amount tied to a percentage of the annual fair market value of the trust’s assets (unitrust);
- freedom to determine, at the time the trust is established, the amount of income to be received (although this amount may not be less than 5% of the trust’s fair market value);
- an immediate partial charitable tax deduction;
the avoidance of estate taxes and probate; and
- minimization of taxes on assets transferred to heirs.
Charitable Lead Trust
The donor establishes a trust through which a fixed or variable contribution is made to the ASPN Foundation for either (1) a predetermined number of years, (2) the life of the donor, or (3) a combination of both. Upon completion of this term, the trust reverts to the donor or to another designated party or heir. The donor receives the following benefits:
- avoidance of taxes on trust income paid to the ASPN Foundation;
- minimization of taxes on assets transferred to heirs; and
- partial gift and estate tax deductions.
By retaining ownership of a life insurance contract and naming the ASPN Foundation as the primary or contingent beneficiary, the donor receives the following benefit:
- the avoidance of estate taxes and probate for the contribution.
ASPN Foundation-Owned Policy
By contributing a life insurance contract naming the ASPN Foundation as the owner and primary beneficiary, the donor receives the following benefits:
- (1) a current income tax deduction on the current fair value of an existing, paid up policy or (2) an annual charitable income tax deduction for premium payments on a new policy;
- the avoidance of estate taxes and probate for the contribution; and
- the transformation of a generous contribution into a major gift
DONATIONS OF PROPERTY
By donating non-cash assets to the ASPN Foundation, the donor receives the following benefits:
- a charitable tax deduction equal to the fair market value of the donation; and
- the avoidance of capital gains taxes on appreciated assets.
This publication is prepared for our donors and friends for educational purposes only. It presents general principles of tax planning which can change without notice. Please consult your own qualified professional advisor(s) regarding the applicability of any option to your personal needs and financial and charitable goals.
The ASPN Foundation is a 501(c)(3) not-for-profit organization. Contributions are tax-deductible as allowed by law.
For more information, contact:
6728 Old McLean Village Dr.
Mclean, Virginia 22101