How can a gift pay you back?
Your gift to Senior Services of Albany does not have to be made outright, because we offer gift plans that pay you income in return for your contribution. You can receive fixed or variable income, take payments for your lifetime or for a term of years, and direct the income to beneficiaries other than yourself. In essence, you make a contribution to us yet retain benefits from what you give away.
Your charitable deduction is based on the full market value of the assets you give us, minus the present value of the income interest you retain. The higher the income payout, the lower the deduction.
These flexible creative gifts address a variety of your planning objectives. For our part, the return of income allows you to consider a more substantial gift to us that you might be able to afford in an outright format. Even though we cannot use these gifts until the death of the last income beneficiary, they give us long-term financial strength that will sustain us in the future.
A properly designed gift can address your philanthropic and financial priories. Click on the gift plans that interest you to learn more about how they can best express your desire to benefit Senior Services of Albany and at the same time help you fulfill your personal financial goals.
Gifts of Cash
Maximize your charitable deduction and deliver immediate benefits to Senior Services of Albany. It is the easiest transaction for both you and us. You are limited only by your cash flow and your inclination to draw from your cash reserves.
Gifts of Appreciated Securities
Get the same tax deduction as if you had given cash, but use stocks, bonds, or mutual fund shares that cost you less than they are currently worth. You deduction is based on market value, but you incur no capital gains liability on the transfer to us. It’s one of the best tax incentives left, and we can work with your broker to make a gift of securities simple.
Gifts of Real Estate
Gifts of land, vacation homes or income-producing properties can bring great benefits to us. We have to review each gift proposal carefully and sometimes it’s not practical for us to accept. You can give real estate outright, transfer it in a part sale/part gift arrangement, use it to fund a life-income gift, or give your residence and reserve the right to continue to live there.
Gifts of Business Interest
A partnership, an interest in a business, shares of closely held stock, or a limited partnership share may all hold value for us. We will review the proposed gift, and if we agree, will work with you and our advisors to make the transfer simple.
Gifts of Personal Property
You may be holding a book collection or artwork that you no longer wish to maintain. Instead, these assets could bring real benefit to us. There are particular IRS requirements to meet before you can deduct a gift of appreciated assets. And, we will review each gift proposal carefully to make sure that we can put the asset to good use.
Gifts by Will or Living Trust
A will can be the foundation of a well-drafted estate plan. It divides and distributes property, can provide security for family members, can minimize taxes and estate costs and, through a bequest, create a lasting legacy for SSA. Many people use a living trust as a substitute for a will or in conjunction with one.
Gifts of Retirement Plans
The balance remaining in your retirement account after your death is often subject to double taxation, if it passes to your heirs, by being taxed both as income and as an estate asset. Result? Over 75% of the account value may go to taxes. It’s a better plan to designate the remainder of your account to us, and then use other assets for gifts to your family. New regulations simplify the procedure of naming a charity as beneficiary, and we are ready to help you plan this gift.
Gifts of Life Insurance
Create a significant endowment for Senior Services of Albany without dipping into your capital assets.
Gifts in Partnership with SSA
Charitable Gift Annuities
Receive a fixed payout and significant tax benefits.
Charitable Lead Trusts
Freeze the taxable value of your appreciating assets by using them to make gifts today and pass them back to family members later.
Charitable Remainder Annuity Trusts
Combine a charitable gift with a predictable fixed-income payout by placing your donation into an individually managed trust.
Charitable Remainder Unitrusts
Choose from several options that best meet your personal financial situation and our needs.