Planned giving allows Army and Navy Academy supporters to make an impactful philanthropic contribution that leaves a lasting legacy. Aligning your philanthropic goals with tax and financial goals takes a practical approach to giving, while serving to ensure that donations are directed toward a compelling cause.
Planned Giving Opportunities Include
A bequest is a gift that comes to ANA after your lifetime. Through a bequest, you can direct a specific dollar amount or assets to the Academy. Or, you can direct all or a percentage of the remainder of your estate after your other beneficiaries have received their inheritances and estate-related expenses have been paid.
Gift of Real Estate
A gift of real estate may be a principal residence or vacation home, a farm, a commercial building, a subdivision lot, undeveloped property, or a farm. The gift may be the entire property or a fractional interest in the property.
Naming ANA as a primary or contingent beneficiary of a retirement plan (e.g. IRA, SEP, 401(k), 403(b), ESOP, etc.) may enable you to make a larger gift than you anticipated because income and estate taxes are not imposed when plan assets are distributed to ANA. Your retirement account’s plan administrator can help you designate Army and Navy Academy as a primary or contingent beneficiary on the plan’s beneficiary form. The Academy’s tax ID number (EIN) is: 95-1184512.
Life Insurance Gift
Naming ANA as a beneficiary of a term or whole life insurance policy is an effective way to make a potentially significant deferred gift with relatively low long-term costs. This is a particularly useful gift if you own a life insurance policy that’s no longer needed by your heirs, no longer has a named beneficiary, or if you wish to avoid another taxable event on your estate.
Charitable Gift Annuity and Charitable Remainder Trust
A Charitable Gift Annuity (CGA) or Charitable Remainder Trust (CRT) can diversify your portfolio, increase your income, reduce or defer capital gains tax, and provide a federal income tax charitable deduction. Many donors use the payments to fund their annual gift to the Academy, or to support an Academy priority during their lifetime.
Charitable Lead Trust
A Charitable Lead Trust is designed to reduce beneficiaries’ taxable income by first donating a portion of the trust’s income to charities and then, after a specified period of time, transferring the remainder of the trust to the beneficiaries, thereby significantly reducing tax liability.
A gift of securities, such as stocks, bonds, or mutual fund shares may offer Army and Navy Academy donors significant tax advantages over an outright cash gift, and will benefit any area on campus. Contributions of appreciated securities held for over a year are generally deductible at market value, regardless of what the donor paid for them and the capital gains tax is avoided through such a gift.