A PLANNED A GIFT Helps assure Vine Village's Future
There are many ways to give:
- Direct Donation
Send checks to:
Vine VIllage, Inc.
4059 Old Sonoma Road
Napa, CA 94558
or give online:
- Gift of Appreciated Assets. Help Vine Village while
avoiding Capital Gains tax!
- Include Vine Village in your Will or Estate Plan:
Wills and Living Trusts
It isn't "either/or:" With a properly drawn-up Will or Trust,
you can provide for your heirs AND Vine Village.
You can make a gift (bequest) to a charitable organization through
your will or living trust in the following ways:
1.
A percentage of your total estate:
With this approach, your gift adjusts with changes
in the size of your estate. After your specific
gifts to loved ones have been made, you may designate that the
entire residue or a percentage of the remainder shall go to one
or more charitable organizations. With this approach your gift adjusts with changes
in the size of your estate.
2. A gift of a specific amount
You specify a dollar amount to
be given to one or more charitable organizations. With this
kind of gift, it is especially important to keep your will
or trust up-to-date.
PLEASE LET US KNOW YOUR PLANS
By informing Vine Village of your Legacy Gift, you help us prepare
for the future. Equally important, you give us the chance to thank
you for your generosity.
Information provided on this Web site is general in nature and not
intended to be tax or legal advice applying to your specific
situation. Advice from a qualified professional advisor should be
sought when considering a gift.
Retirement Plans and Life Insurance
RETIREMENT PLANS
Retirement plans, when passed on to heirs, can incur as much as 80 percent in taxes, because this asset faces double taxation. Not only
is the amount of the plan reduced by estate taxes, but the recipient must also pay income taxes on the plan.
If you plan to make a legacy gift to Vine Village, you may want to consider naming us the beneficiary of your IRA, 401(k), 403(b), pension or other retirement plan and leaving other assets to your family. Naming us the primary beneficiary avoids all income and estate taxes on the
retirement plan.
To make the designation, advise your plan administrator of your decision and complete and sign the appropriate form.
LIFE INSURANCE
Many individuals have life insurance policies whose benefits they no longer need. If this applies to you, you may want to consider naming
Vine Village the beneficiary and assigning us ownership of the policy. This will qualify you for a charitable deduction; and in removing the
life insurance policy from your estate, you may also reduce your estate taxes.
PLEASE LET US KNOW YOUR PLANS
By informing Vine Village of your Legacy Gift, you help us prepare for the future. Equally important, you give us the chance to thank you for
your generosity. To notify us of your intentions, please contact us.
STOCKS & BONDS
Using appreciated stock or mutual funds is a tax-wise way to fund your gift to Vine Village. Gifts of appreciated securities held longer than
one year are exempt from capital gains taxes and for outright gifts entitle the donor to a tax deduction equal to the fair market value
of the securities at the time of transfer.
To avoid exposure to capital gain tax, the stock must be transferred to Vine Village, Inc. We then sell the stock from our account.
Please contact us at (707) 255-4006 to notify us of the transfer details so that we can properly credit your gift and provide you with a letter for tax purposes.
LEGACY GIFTS
Stock and mutual funds may also be used to fund charitable gift annuities and charitable remainder trusts.
Real Estate
Donating marketable real estate, such as a personal residence or vacation home, commercial property, or even vacant land, can be a
creative way to make a significant gift to Vine Village and at the same time receive important tax benefits and even income. The benefits include a charitable income tax deduction, avoidance of capital gain tax at the time the gift is made, and removal of the property from your estate, potentially reducing estate taxes and probate costs. A gift of your real property can also relieve you of the burden of managing or selling the property. Real property gifts can be made in several ways:
Outright gift:
Your benefits from an outright gift of real property would include an income tax deduction for the property's full fair market value, removal of the property from your estate, and the reward of seeing your gift go to work for Vine Village
Charitable remainder trust: If you still need the income generated by the property, a charitable remainder trust may be a good solution. The property is irrevocably transferred into a trust, which pays income to you for life or a term of years. After that, the remaining principal goes to support the various Vine Village programs that have served so many over the years. Additional benefits include a substantial income tax deduction in the year the trust is established and no capital gain tax at the time of the gift.
Partial interest gift:
If you are unable to donate the entire property, you may deed to us an undivided partial interest. Alternatively, you may fund a charitable remainder trust with such a partial interest. Typically in both instances, the entire property is sold, with the proceeds being shared proportionally between you and Vine Village (or the trust). Your charitable deduction for the gift portion can help offset the capital gain tax on the property interest you keep.
Retained life estate:
Give Vine Village your personal residence, but retain the right to live in it for your lifetime. A retained life estate will give you an income tax deduction in the year you make the gift and the satisfaction of making an important gift during your lifetime.
Bequest: You can make a testamentary gift of real estate through your will or trust.
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It isn't "either/or:"
A properly drawn-up Will or Trust can provide for your heirs AND Vine Village.
A gift through a Charitable Remainder
Trust can provide you with lifetime income or use of assets.
A gift of appreciated assets can save
a lot in income taxes. |
Memorials and Tributes, and Celebrations
Vine Village welcomes gifts and pledges In Memoriam, as well as to
celebrate special occasions such as graduations and anniversaries. Please
call or email us for a packet of our special gift and memorial
packets.
707- 255-4006
Email:
Cheryl Kavicky, Vine Village Financials
| Sample bequest language for your attorney:
"I give [_____% of my estate] [the residue of my estate] [_____% of
the residue of my estate] [$______________] to Vine Village, inc.
Inc., a California nonprofit public benefit corporation.
Vine Village's Federal Tax I.D. Number is:
23-7296716
Vine Village's legal name is Vine Village, Inc.
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Charitable Remainder Trusts
HOW THEY WORK
A charitable remainder trust lets you convert highly appreciated securities or real estate into income for life or a term of years
without incurring capital gain tax when the asset is sold. The appreciated asset is transferred into an irrevocable charitable
remainder trust and is then sold by the trustee. The proceeds are reinvested, and you and/or another designated beneficiary(ies)
receive income for life or a specified term of years. When the trust terminates, the remainder will be added to the Vine Village Endowment.
THERE ARE TWO TYPES OF CHARITABLE REMAINDER TRUSTS:
- Unitrust - The income you receive is a set percentage of the value of the trust's assets, which is revalued each year.
- Annuity trust - Income payments are fixed and determined when the trust is set up. The annuity trust is most attractive to individuals
who wish to avoid market risk, reduced estate tax and probate costs
We would be pleased to discuss the possibility of Vine Village serving as trustee of your charitable remainder trust. Typically,
Vine Village serves
as trustee for charitable remainder trusts that name Vine Village,
Inc. as the irrevocable beneficiary of $100,000 or more; that have an
appropriate payout rate and whose life income beneficiaries are 65 or older.
We are always happy to consult with you and your advisor about the various charitable trust options and can provide computer modeling
showing how the trust would work in your particular circumstances.
YOUR BENEFITS
- Income for life or a term of years
- Potential for low-yielding assets to turn into more income
- A significant income tax deduction
- No capital gain tax at the time of the gift if appreciated
assets are used to fund the trust
Endowment
Your legacy gift will live on...
Revocable Endowment gifts effective at death:
-
Wills and Living Trusts
-
Retirement Plans and Life Insurance
Current Endowment gifts:
Receive the maximum immediate tax benefits, and enjoy the satisfaction of giving during your lifetime.
- Gifts of cash - charitable tax deduction
-
Gifts of stock and mutual funds - charitable tax deduction and avoidance of capital gain tax
-
Gifts of real estate - charitable tax deduction, avoidance of capital gain tax, relief from property tax and property management
- Income for life and tax benefits
-
Gift annuities
-
Charitable remainder trusts
How the Endowment works:
The Endowment is invested strategically to preserve its principal value. Payout from the Endowment supports Vine Village's programs and
operations. As our Endowment grows, it provides an expanding source of stable funding to help us weather the ups and downs of the
economy and keep Vine Village strong and creative.
ENDOWMENT TYPES
Board-Designated Endowment
Legacy Gifts made without restrictions are, by Vine Village Board policy, directed to the Board-Designated Endowment. We prefer this kind of
gift because it gives Vine Village flexibility in future years. Specifically, it allows the Board, in case of a financial emergency,
to access the principal for Vine Village's immediate needs.
Suggested bequest language for Board-Designated Endowment: "I give
[___% of the residue of my estate] [the residue of my estate]
[$_____] to Vine Village Inc., a California nonprofit public benefit
corporation. Vine Village's primary office is located at 4059 Old
Sonoma Road, Napa, CA 94559"
(Your attorney may want to know that
Vine Village's Federal Tax I.D. Number is:
23-7296716)
Permanent
Endowment
Gifts to the Vine Village Permanent Endowment are dedicated to supporting
Vine Village's operations over the long-term.
Please contact us about any substantive changes you or your attorney
may wish to make to the suggested language below, or for more
information. We want to be sure that Vine Village will be able to comply
with your wishes.
Vine Village's Federal Tax I.D. Number is:
23-7296716
YOUR PERSONAL FUNDING INTERESTS
We understand that you may have special programming or other funding
interests and may want to direct your gift in a specific way.
Vine Village is pleased to honor your wishes.
Suggested bequest language for a gift to one of the Permanent
Endowment Program Funds: "I give [___% of the residue of my
estate] [the residue of my estate] [$_____] to
Vine Village Inc., a
California nonprofit public benefit corporation, to be held and
administered pursuant to the terms of the
Vine Village Permanent Endowment, as adopted by the Vine Village Board on December 1, 2011, as amended. The
expenditures from this gift shall be added to the [insert the name
of one of the above program funds]. Vine Village's primary office is located
at 4059 Old Sonoma Road, Napa, CA 94559."
Vine Village's Federal Tax I.D. Number is:
23-7296716
Other
restricted purpose designations
If your funding interests are even more specific, our Gift Planning
and Endowment staff would be pleased to work with you and your
professional advisor to develop or review any special gift language
you wish. We share the goal of ensuring that your gift is described
in a flexible enough way that it can be used in the manner you
intend.
NAMED AND MEMORIAL ENDOWMENT FUNDS
With your Endowment gift of $250,000 or more,
Vine Village will establish,
at your request, a named Endowment bearing the name(s) you
designate. In this way, the remembrance of your generous gift and/or
the memory of your loved one will live on. Individuals and families
or other groups may combine gifts over time to meet the minimum
amount. While we prefer that your named Endowment Gift be
unrestricted so that we can direct it to our Board-Designated
Endowment, you may direct your gift to our Permanent
Endowment, and designate one of our Permanent
Program Funds, if you wish. Your named gift will
be recognized on-air and in publications, unless you prefer
anonymity. Please contact us for details.
ENDOWMENT MANAGEMENT
Vine Village's Board of Directors has determined that our primary
long-term Endowment management objective is to preserve purchasing
power, while providing an available, stable, and constant stream of
revenue to help meet Vine Village's operational needs.
The Board's current Spending
Rule for the
Endowment provides that withdrawals may not exceed 5% of the
Endowment's market value averaged over the prior twelve quarters. As
to Permanent Endowment, Vine Village Board policy is
that Vine Village may make withdrawals only to the extent the Endowment's
value exceeds original gift value. The Board has determined that it
will protect the original value of donors' endowment gifts, even
though California law now permits spending of these funds under some
circumstances. This policy could be modified at some future time,
but it reflects our respect for our donors' expectations that their
gifts to public broadcasting will last far into the future.
PLEASE LET US KNOW YOUR PLANS
By informing Vine VIllage of your Legacy Gift, or by making a current
Endowment gift, you help us prepare for our future. Your Endowment gift will help ensure that future generations will
continue to enjoy the same quality public broadcasting you and
millions of others have enjoyed for more than fifty-five years.
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