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Stocks, Bonds or Mutual Fund Shares
To make a gift of appreciated securities, transfer the
securities to Carondelet Foundation. Do not sell the securities
first. The value of your gift is determined in accordance with
IRS regulations. The value of the securities is the average of
the high and low price of a security on the date of transfer to
a Carondelet Foundation account. For certificates that are
mailed, the value is determined as of the postmarked date, or if
delivered to the Foundation, by the receipt of the properly
endorsed certificate.
Broker Transfer
Carondelet Foundation has accounts with most major brokerage
firms in Tucson and will work with your broker to facilitate
your gift and the sale of the security. Ownership of your stock
may be transferred electronically. You should notify your broker
of your intentions and ask them to contact Carondelet Foundation
for detailed information.
Mailing a Certificate
A stock certificate may be mailed to Carondelet Foundation. To
protect your gift, mail the unsigned certificate in one envelope
and send a signed stock power in a separate envelope. The form
must be signed exactly as the name appears on the certificate,
with the signature guaranteed. Certificate and form should be
sent by certified mail.
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Bequests
Following are examples of how to name Carondelet Foundation as a
full or partial beneficiary of your estate. Consult with your
personal, financial or estate advisor.
| OUTRIGHT BEQUEST |
I give to Carondelet Foundation,
Tucson, Arizona, the sum of $___________ (or if property,
describe). |
| PERCENT BENEFICIARY |
I give to Carondelet Foundation,
Tucson, Arizona, ______% of my estate. |
| CONTINGENT BEQUEST |
If the above named beneficiaries
should predecease me, then I give the same to Carondelet
Foundation, Tucson, Arizona. |
| BEQUEST OF RESIDUE |
I give all the rest of my property
to Carondelet Foundation, Tucson, Arizona. |
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Charitable Gift Annuity
The donor irrevocably transfers cash, appreciated securities or
other marketable assets to Carondelet Foundation in exchange for
a fixed annuity payment for life and/or a second beneficiary. The donor
receives a current income tax deduction based on the present
value of the gift. The annuity payment is calculated on the value of the
asset, number of beneficiaries (one or two) and the life
expectancy of the beneficiaries. Life income beneficiary must be
50 years of age or older. Contact Carondelet Foundation for
detailed information.
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Deferred Gift Annuity
This gift type is similar to a Charitable Gift Annuity, except
the payments are deferred to a future date. The longer the
deferral period, the greater the payout and charitable deduction
will be. This is an excellent gift vehicle for individuals who
wish to delay the income or younger individuals wishing to
supplement future retirement income while obtaining the largest
charitable deduction now. Contact Carondelet Foundation for
detailed information.
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Charitable Remainder Unitrust or
Annuity Trust
The donor irrevocably transfers cash, or appreciated securities
or other marketable assets to Carondelet Foundation in exchange
for income for life and/or a second beneficiary. Upon the death
of the beneficiaries, the trust assets become the property of
Carondelet Foundation. The donor receives a current income tax
deduction based on the present value of the gift.
If the gift established is a Charitable Remainder Unitrust, the
income is a fixed percent calculated annually on the fair market
value of the trust assets. If it is a Charitable Remainder
Annuity Trust, income will be a fixed percent calculated on the
value of the asset at the time of the gift. The number of
beneficiaries and the life expectancy of the beneficiaries also
determine the amount of life income.
A donor may also establish a Charitable Lead Trust which is the
same concept as a Charitable Remainder Unitrust except that the
donor will name a charity to receive the annual distribution for
a predetermined period time up to 20 years after which the
distribution reverts back to family or other beneficiary.
Consult with your personal, financial or estate advisor or
contact Carondelet Foundation for additional information
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Life Estate Gift
A donor may make a gift by deeding their home to Carondelet
Foundation and retaining the right to live in and enjoy their
home for life with survivor rights. The donor(s) agree to
maintain the home and pay property taxes and insurance. This
gift provides the same estate tax benefits as a gift by will. In
addition, probate costs are saved.
If the donor becomes unable to remain in the home or maintain
it, the remainder value of the gift may be converted to a
Charitable Gift Annuity to provide current income.
Consult with your personal, financial or estate advisor or
contact Carondelet Foundation for additional information
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Life Insurance
One way to make a charitable gift to Carondelet Foundation with
minimal effect on your current financial status is to name
Carondelet as a beneficiary of a life insurance policy that you
own. Although the donor receives no tax deduction for the value
of the insurance policy, the annual premiums may be used as a
tax deduction. The proceeds are not taxable to the donor’s
estate.
Also a donor may name Carondelet Foundation as a primary,
contingent or additional beneficiary of a policy. Under these
circumstances, the proceeds of the policy are included in your
estate at death; however, your estate will receive a charitable
deduction. Contact Carondelet Foundation for additional
information
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Beneficiary on Account
An easy way to make a gift is to designate Carondelet Foundation
as a beneficiary on a bank account or IRA. These are called
Transfer on Death (TOD) or Payable on Death (POD). As these amounts will be
removed from your total estate, there will be a reduction in
your taxable estate and are not part of the probate process.
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