Planned giving is a rewarding way to combine charitable giving with your financial plans. It offers you a way to integrate your financial goals with your personal values and causes that matter the most to you. Planned giving provides flexible options for making a charitable gift to The Florida Keys SPCA. It is a meaningful way to support our lifesaving mission, and leave your legacy. Your generous planned gift will support the Florida Keys SPCA in our mission.
Any gift can make a difference.
Join Our Friends Forever Society
Members of the Friends Forever Society with estate plan provisions give a lasting meaningful gift to the homeless animals in our care beyond their own lifetime. Planned gifts are a unique charitable tool allowing donors to achieve their personal charitable objectives using tax and financial planning methods which are typically made from assets in your estate. The simplest and most common planned gift is a bequest in your will or living trust. Others include:
Annuities that provide income to your and others for life.
Life Insurance Policies
Life insurance can be distributed to a charitable organization such as the Florida Keys SPCA, if we are named as a beneficiary of the policy at the time of your death. You will need our full legal name – The Florida Keys SPCA – and our Federal Tax ID number: 65-0891564. Contact your insurance company for its change of beneficiary form for the life insurance policy. Simply decide what percentage of the policy's value (1 percent - 100 percent) you would like us to receive and name us, along with the stated percentage, on the beneficiary form. Then return the form to your insurance company.
Charitable Lead Trusts
An Endowment Fund
Retirement Plan Assets
Most retirement plans, including 401(k)s and IRAs, are income tax–deferred, meaning that income tax is not paid until the funds are distributed to you in life, or upon your death. This taxation makes retirement assets among the costliest assets to distribute to loved ones.
Because they are subject to income taxes to your beneficiaries, retirement assets make ideal gifts to tax-exempt charitable organizations such as The Florida Keys SPCA. Otherwise, the income taxes on retirement assets you leave to your loved ones can be as high as 35 percent. This means that an IRA worth $100,000 will be worth only $65,000 by the time it reaches your heirs.
However, the naming of a charity as the beneficiary of retirement assets upon death generates no income taxes. The Florida Keys SPCA is tax-exempt and eligible to receive the full amount and bypass any income taxes. This means that in the above example, the FKSPCA would receive the full $100,000 benefit.
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 parcel to The Florida Keys SPCA, but retain the right to use the property for life. Upon your death, the Florida Keys SPCA will use the property or proceeds from its sale to further our mission.
Stocks and Bonds
Stocks, Bonds and Mutual Funds that have appreciated in value are one of the most advantageous ways of supporting homeless animals.
You may receive a charitable income tax deduction for the full fair market value of the stock (up to a maximum of 30% of your adjusted gross income) and avoid paying the capital gains tax on any increase in the value of the stock.
For example, you make a gift to the animals of stock worth $5,000, you purchased the stock for $500; you save $1,350 on your income taxes (if you are in a 27% tax bracket) plus you permanently avoid paying capital gains tax on the $4,500 of appreciation. To obtain the largest tax savings use stock that you have owned for a "long term" period of time (usually for more than one year).
Believe it or not, you may still want to sell securities that have depreciated in value and contribute the proceeds. In this case you may be entitled to take a capital loss on your income tax return, as well as the charitable deduction for your gift.
Your financial advisor will be able to help you decide which type of planned gift is best for you and your family. If you have questions on planned giving, please contact us directly at (305) 294-4857.
**The information contained here is not intended to be financial or legal advice. Please consult an attorney or qualified adviser to make choices that best fit your situation.