Gifts
Gifts of Stock, Bonds, Real Estate, Trust Funds, Beneficiary Designation of other Financial Instruments such as:
Life Insurance, Charitable Remainder Trusts, and Individual Retirement Accounts, are gratefully accepted and recorded at full value at the time of your donation.
Charitable Remainder Trust – A Smart Way to Give
Do you own highly appreciated assets that you’re reluctant to sell because you don’t want to pay the capital gains tax?
Are you looking for a steady stream of income?
Could you use a charitable deduction on your tax return?
Do you want to continue the legacy of the Great American Songbook?
If you answered yes to any of these questions, you may want to consider a Charitable Remainder Trust (CRT). A CRT is an estate-planning tool that allows you to contribute assets to an irrevocable trust and then receive an annual payout from those assets during the life of the trust. CRTs can be established for terms of up to 20 years or the lifetime of one or more individuals.
Because the trust itself is a tax-exempt vehicle, assets can be donated, sold and reinvested without triggering adverse tax consequences.
Donating assets to the CRT qualifies you for an immediate income-tax deduction equal to the present value of the estimated amount that will eventually pass to charity. The income payouts however, are taxable as ordinary income, while the assets remaining at the end of the term of the trust go to American Songbook Preservation Society and its mission.
There are two main types of CRTs. One type, called a Charitable Remainder Unitrust (CRUT), pays out a specified percentage based on the fluctuating value of the trust’s assets each year. Alternatively, donors who desire a steady stream of payments may prefer the second type of CRT called a Charitable Remainder Annuity Trust (CRAT). Both types of trusts, CRUTs and CRATs, mandate donors to receive payouts of at least 5% but no more than 50% of the initial value of the contributed assets. They also require the present value of the charity’s interest to be at least 10% of the initial value of the contributed assets.
If you’re interested in supporting our mission, while minimizing your estate taxes and enhancing your cash flow by generating a new income stream, write us at info@greatamericansongbook.org.
Bequests and Estates
To include American Songbook Preservation Society in your will or living trust, please consult your legal advisor.
Sample bequest language:
“I give, devise, and bequeath to American Songbook Preservation Society, TAX I.D. #56-2410339, all [or state the fraction or percentage] of the rest, residue, and remainder of my estate, both real and personal. American Songbook Preservation Society may be contacted in care of its office mailing address, P.O.Box 742 Aptos, Ca. 95001.”
Legal Name
American Songbook Preservation Society
Federal Tax Identification Number
56-2410339
Contact Information
American Songbook Preservation Society
P.O.Box 742 Aptos, Ca. 95001
(831) 687-0278
info@greatamericansongbook.org
Tax-exempt Status
American Songbook Preservation Society is a 501(c)(3) not-for-profit Charitable Organization and all donations are tax-deductible to the extent permitted by law.