Bequests Under Your Will
A bequest to the CCA Texas enables a donor to make a significant gift that is not subject to estate or gift taxes. A bequest may leave a specific cash amount, property, or stock to CCA Texas. The donor may stipulate whether the bequest is for the general support of CCA Texas or for a specific program. Donors may be recognized in the Currents newsletter or may remain anonymous. A bequest may also be made in honor or memory of another person.
How to Name Us in Your Will
If you choose to include CCA Texas in your will or other estate planning documents, we should be named as:
CCA Texas, a nonprofit corporation, or its successor organizations qualifying as charitable organizations under the Internal Revenue Code.
Our tax identification number is 74-1984482.
At CCA Texas, all unrestricted charitable gifts are used for efforts to conserve and enhance Texas coastal marine resources.
Other Planned Giving Opportunities and Benefits
Charitable contributions may qualify you to receive a significant current income, gift or estate tax benefit. In addition to making an outright bequest to a charity in your will, there are other ways to make charitable contributions.
- You can also make outright gifts to charity during your lifetime. Your deduction for an outright gift may equal the value of your gift, subject to some limitations which might apply depending upon the type of property gifted and your income level. You may be able to carry forward any gift amount that exceeds certain of these limits for up to five years.
- You can also make charitable gifts in other ways, such as gifts to charitable lead trusts or charitable remainder trusts.
- By making a gift to a charitable lead trust, in which a charity receives distributions for a certain period of time before the assets transferred to the trust pass to your children (or other heirs), you may be able to pass an appreciating asset to your heirs with little gift or estate tax consequences.
- You could also create a charitable remainder trust, in which noncharitable beneficiaries (such as family members) receive benefits from the trust for a period of time before the charity receives the trust assets. By using a charitable remainder trust, you may be able to sell, without currently paying capital gains taxes, highly appreciated investments and reinvest all of the sales proceeds to generate income. Thus, a properly planned gift to a charitable remainder trust might enable you to realign your investment portfolio without incurring any current income taxes. This could allow you to diversify your holdings and increase your cash flow.
Whatever gifting strategy you choose, planned giving can be very rewarding. It’s wonderful to see your gift at work and to receive tax benefits as well. CCA encourages you to talk to your estate/tax advisor to discuss the plan that best fits your needs
For more information about CCA Texas or planned giving opportunities, please call 800.626.4222 and ask for Robby Byers.
