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Other Ways to Give The generous support of the Chicago Human Rhythm Project contributors enable CHRP to fulfill its annual budget and continue presenting extensive performance, education and community outreach programs to communities throughout Chicago. Your gift plays an important role in the success of the CHRP's programs. There are myriad ways to support the CHRP including traditional cash gifts. Please consider the following options: Endowments Major gifts can endow specific performance, education or community outreach programs. Gifts of Securities Gifts of long-term appreciated securities (held for more than one year) can help donors avoid capital gains tax as well as sales commissions. The charitable tax deduction for gifts of appreciated securities is limited to 30% of adjusted gross income. Express amounts can be carried forward for up to five additional years. Gifts of Real Estate Gifts of long-term appreciated real estate can be donated at full fair market value. The charitable tax deduction is generally limited to 30% of adjusted gross income, with five-year carry over of the unused deduction. If a donor retains the right to a lifetime residency, the charitable deductions are based on the value of CHRP's remainder interest. Gifts of Life Insurance Insurance policies that are no longer necessary can be gifted to CHRP if the CHRP is irrevocably named as the beneficiary and owner of the policy. Donors receive a current charitable tax deduction based on the replacement value if it is a paid policy or its cash surrender value if it is not fully paid. Gifts are deductible up to 50% of adjusted gross income with a five-year carry-over option. Gifts of Income Producing Trusts Donors may contribute cash of appreciated property in exchange for a lifetime for one or two beneficiaries through a charitable gift annuity or unitrust. These gifts entitle the donor to a current charitable income tax deduction and possible capital gains saving if long-term appreciated property is used. The remaining asset passes to CHRP after the death of the donor and the life income beneficiary. Gifts of Trust Income Interest from an asset can be donated to CHRP for a set amount of time through capital lead trust. Current tax benefits are available, and the principle returns to the donor or another beneficiary after the terms of the trust ends. For additional gift information or to discuss gifts planning options, please our office at 773-281-1825 and ask to speak with Lane Alexander. |