A planned gift is a philanthropic gift and legacy that is funded either during a donor's lifetime or after the donor's death. The gift is part of a larger estate planning process in which the donor decides how certain assets are distributed. Donors can be honored during their lifetimes for what they do, and they will leave behind a legacy of philanthropic support for our Florida youth and those less fortunate. Not only is your gift to the Florida Elks Charitable Trust Fund tax deductible, but you retain the use of any pledged assets during your lifetime.
Federal Tax Savings. A contribution to the Florida Elks Charitable Trust Fund (aka Harry-Anna Trust Fund) is a tax deductible donation to a U.S. tax code 501(c)(3) organization. While you're considering your annual income tax, it may be a good time to consider long-term tax savings. For example, if you purchased stock or real estate years ago for $1,000 and it is now worth $10,000, an outright gift of the stock or real estate to the trust fund would result in a charitable deduction of $10,000 to you. In addition, you permanently avoid capital gains tax on the $9,000 in appreciation. Continuing changes in the federal tax code make the counsel of professional tax and legal advisors essential to a donor who may benefit financially from a well-structured plan.
Disclaimer: The Florida Elks CHaritable Trust Fund (Harry-Anna Trust Fund) is not engaged in legal or tax advisory service. For advice or assistance in specific cases or whether to make certain a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.