Planned Giving

Planned gifts are becoming an increasingly important part of the Jeannette Rankin Foundation's funding. Many of our friends support JRF with a planned gift that at the same time provides a more secure future for their loved ones.

Types of Planned Gifts

Gifts of Cash
Gifts of Cash to JRF can greatly reduce the amount of income taxes that you must pay if you itemize your deductions. Gifts of cash are deductible up to 50% of your adjusted gross income. For example, if your adjusted gross income for 2005 is $120,000, up to $60,000 of charitable gifts may be deducted on your 2005 taxes.

Gifts of Securities
Donating stocks, bonds, mutual funds and other securities contributes to the financial stability of the Foundation, and it offers significant tax saving for you. By giving stock, you can avoid capital gains tax on the increased value of the stock plus receive an income tax charitable deduction for the full fair market value of the stock. A gift of appreciated mutual funds works in the same way.

Real Estate
A gift of real estate can be a current or deferred donation. A current gift, where the property goes directly to JRF, provides immediate tax savings - usually the fair market value of the property. You can also give real estate to the Foundation while continuing to occupy the residence throughout your lifetime. Making a deferred gift of property allows you to make a substantial contribution to JRF while still living in your home. A deferred gift of real estate will allow you to take a current tax deduction for the property's discounted value.

Did you know?

Jeannette Rankin's Georgia
Home, "Shady Grove" A gift of real estate was the impetus that began JRF many years ago. Jeannette Rankin bequeathed her property, called "Shady Grove," located in Watkinsville, Georgia to assist "mature, unemployed women workers." Rankin was the first woman elected to U.S. Congress in 1916. Proceeds from the sale of her Georgia property, $16,000, became the seed money upon which the Foundation began. In 1976, JRF was chartered, and the first scholarship was awarded in 1978. From 1978 through 2006, more than 450 women across the United States have received scholarships toward college. Gifts of real estate follow the example of Jeannette Rankin, and they provide funds so that more women will be assisted with JRF scholarships in future years.

Bequests
One of the simplest ways to give is to include a bequest to the Foundation in your will. Depending on the current exemption amount and your assets, giving a bequest to JRF may also decrease any estate taxes that would be due from your estate. If you are interested in furthering JRF's program to help women succeed through education, there are several options:

If you would like to leave a certain sum of money to the Jeannette Rankin Foundation, include the following language:
"I give to the Jeannette Rankin Foundation, a nonprofit corporation created under the laws of the State of Georgia, located in Athens, Georgia, the sum of $___________.

If you would like to leave a certain percentage of your estate to the Jeannette Rankin Foundation, include the following language:
"I give to the Jeannette Rankin Foundation, a nonprofit corporation created under the laws of the State of Georgia, located in Athens, Georgia, ____% of my estate."

If you would like to leave your remaining assets to the Jeannette Rankin Foundation (whatever is left after other gifts have been granted), include the following language:
"All the remainder of my estate, including real and personal property, I give to the Jeannette Rankin Foundation, a nonprofit corporation created under the laws of the State of Georgia, located in Athens, Georgia."

Charitable Trusts
Charitable trusts provide very flexible and powerful tools that can allow you to reduce your tax burden, increase your current and/or future income, and provide vital support to advance the Jeannette Rankin Foundation's mission.

Charitable trusts can be complex; please consult your financial planner, attorney, or trust banker for current information. One option to consider is a charitable remainder unitrust trust or a charitable remainder annuity trust through your lawyer and bank. The main feature of these trusts is that you make an irrevocable designation of part of your property to JRF. In return, you receive tax benefits and an income stream.

Another option is a charitable lead trust. In this case, you give JRF the right to receive the income from your property for a term of years or the life of a beneficiary. At the end of that term, your family or beneficiaries receive the property back. There are specific tax consequences to lead trusts, so please consult your lawyer for more information.

Life Insurance
Many people buy life insurance at a young age to provide support for minor children or a surviving spouse. As time goes on, the need for that type of life insurance may diminish. If the life insurance policy you purchased is no longer needed for its original purpose, you may elect to donate that unneeded life insurance to the JRF.

You can name JRF as the beneficiary of the policy while remaining the owner of the policy. This allows you to retain ownership and control of the policy. You will continue to have access to the cash value of the policy. If you decide to change the beneficiary of the policy in the future, you will be able to. Remaining the owner of the policy has one disadvantage: you are not allowed to take a charitable deduction on your income taxed for the premiums that you pay for the policy.

The greatest tax benefit can be gained by making the Foundation the beneficiary of the policy and by irrevocably transferring the ownership of the policy to the JRF. This allows you to save taxes two ways. First, you are allowed to take an immediate federal income tax charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Second, you can make contributions to the Foundation that will allow JRF to pay the premiums. You can take a charitable federal income tax deduction for these contributions.

If you decide to either make JRF the beneficiary of your life insurance policy or to make the JRF the owner of your life insurance policy, please contact your life insurance representative for assistance.

For Further Information
For more information, please call our office at 706-208-1211. Please consult your financial planner, attorney, or trust banker in your discussions about planned gifts. Thank you for your interest and support for JRF and our mission to help women succeed through education.

706-208-1211 telephone
706-548-0202 fax

mailing address:
P.O. Box 6653, Athens GA 30604

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