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What Is Planned Giving?

Planned giving is one of the most meaningful ways you can make an impact. A gift to the CC Taylor Foundation (CCTF) will leave a lasting benefit for generations to come and will allow the Foundation to continue our valuable work and maybe impact someone very close to you.

What Will Your Legacy Be?

Every human being creates a lifetime of relationships, accomplishments, truths, and values, that live on in those whose lives they have been privileged to bless.

Representatives from the CC Taylor Foundation would be honored to meet with you and assist you with meeting your planned giving goals so that you can see, throughout your lifetime, the impact of your philanthropic gifts at work in causes you are deeply passionate about.

People like us give generously because we love God and are “Blessed To Be A Blessing" in positive impacting life, living, and learning of multi-generations to come.

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Significant Methods of Planned Giving

Remember and Celebrate

Memorials and Commemorative Gifts 

Celebrate or remember a loved ones through the CC Taylor Foundation Honor and Memorial Gift Program. It is a wonderful way to commemorate significant milestones such as birthdays, holidays and weddings. This program also provides you with an opportunity to celebrate the memory of a friend or family member through a contribution to our Foundation.

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Sell and Donate the Difference

Life Insurance and IRA Accounts

Donors who wish to leverage their cash donations to charity can use life insurance to accomplish their goal. By either gifting a policy outright or naming a charity as beneficiary, they can provide the charity of their choice with a large sum of money and provide a lasting legacy for a cause they believe in. Donors should consider the use of charitable riders on their cash value insurance policies to provide at least a small gift if possible. Using your IRA to make a charitable donation can help you lower your tax bill.

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Donate Your Required Distribution

IRA Required Minimum Distribution

You can use your qualified charitable donation to meet all or part of your IRA's required minimum distribution (RMD) for the year. Traditional IRA owners must start taking RMDs at age 70½ or face tax penalties. The CC Taylor Foundation must receive your donation by December 31 for you to apply it to that year's tax return.

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Various Gifts

Outright Gifts... 

of cash or assets such as stocks, bonds, mutual funds, equipment and land. This type of planned giving is irrevocable.

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Sell and Donate the Difference

Bargain Sales

A bargain sale is the purchase of property (securities, real estate, etc.) for less than its fair market value. In such case, the difference between the fair market value and the sales price constitutes a charitable gift. Thus, the donor/seller is able to recoup some cash, perhaps equal to their investment in the property, and use the balance as a charitable gift.

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Transfer without Tax Liability

IRA Charitable Rollover

Taxpayers age 70 ½ or older can transfer up to $100,000 annually from their IRA accounts directly to the CC Taylor Foundation without first having to recognize the distribution as income.

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Create a Legacy

Endowment

Endowments are donations, usually of money or other financial assets, made to the CC Taylor Foundation with the sole intention of investment to earn additional income, and can thus last in perpetuity. Endowment funds often come with caveats stating how much of each year’s income can be spent by the foundation.

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Physical Property

Real Estate Gift

When you transfer the deed or title of real estate to the CC Taylor Foundation, you generally receive a tax deduction equal to the property's fair market value.  That deduction may be carried forward for five years.  As a 501(c)(3), we don't pay capital gains taxes, so the total value of your gift goes to causes you care about.

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Interest

Gifts of Remainder Interest in Home or Farm with Retained Life Estate

Give a remainder interest (the right to own after death or after a period of years) in your home or farmland to The CC Taylor Foundation, but keep the right to use the property in the meantime (during your life or for a period of years).

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Making Wishes Reality

Wills and Bequests 

One of the easiest ways for creating an equipping leaders ministry legacy that makes a transformational impact is to include CC Taylor Foundation in your Wills and Living Trusts. This Revocable gift only requires one sentence:

“I hereby devise and bequeath [percentage] of my estate or specific security or property, or residue/remainder to the Reverend Charlie E and Cinderella S Taylor Sr Foundation, federal tax ID #01-0872212, a nonprofit corporation in the state of Mississippi, for its unrestricted charitable use and purpose or to establish an endowment. ”

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Following Your Instructions

Payment on Death or Transfer on Death Payment or Transfer of Bank/Stock Accounts or Real Estate

By establishing a Transfer on Death (TOD) or Payable on Death (POD) provision, you can transfer assets without the expense of a will or trust. A TOD is generally only used for investable assets, such as securities, bonds and mutual funds. A POD is very similar to a TOD, but is used for savings accounts, money market accounts and CDs.

Through a TOD or POD arrangement, you can bypass the delays and costs associated with probate and qualify for an estate tax charitable deduction. You do not have to work with an attorney or accountant to prepare or revise a will that names The CC Taylor Foundation as a beneficiary. You will need to notify  the manager of your financial institution and complete the necessary designation forms. 

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Annuities

Charitable Gift Annuities

You make a financial gift to The CC Taylor Foundation and in return receive annual payments for life from the foundation. It is an agreement established with The CC Taylor Foundation that allows individuals to transfer assets to the foundation in return for a partial tax deduction and a fixed income for the donor's lifetime. After the donor dies, the foundation keeps the remainder of the gift.

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Retirement

Retirement Accounts

Instead of gifting your retirement assets during your lifetime, you may designate the foundation as the beneficiary of your retirement account. Under this option, the foundation – not you – will be treated as receiving the distribution; therefore, neither you nor your estate will owe income taxes on the amount. While the amount will be included in your taxable estate, your estate will receive a deduction for the amount inherited by the charity, resulting in an offset of the estate taxes. 

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Autos and Boats

Gifts of Cars, Trucks, and Boats

Complete our secure online form below and we will contact you. All vehicles are considered! We accept cars, trucks, RVs, motorcycles, trailers, boats, campers, off-road vehicles, heavy equipment, and most other motorized vehicles— whether they’re running or not.  Our Donor Support Representatives will arrange to have a licensed tow company pick up your vehicle. We can pick up your vehicle just about anywhere in the U.S. within 72 hours of completing the donation.

Tax Benefits - Most vehicle donations qualify for a tax deduction. When your vehicle is picked up, the driver will provide you with an initial donation receipt. You may claim as a tax deduction the fair market value of your vehicle up to $500 on your donation even if your vehicle sells for less. If your vehicle sells for over $500, we will provide a 1098-C IRS form which will allow you to claim the full sale price.

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Trusts

Charitable Lead Trusts 

A charitable lead trust works by donating payments out of the trust to charity, for a set amount of time. After that period expires, the balance of the trust is then paid out to the beneficiary. While this reduces the taxes owed by the beneficiary, once they inherit the remaining balance, it also presents them with other potential tax benefits, such an income tax deduction for charitable donations, and savings on estate and gift taxes. Additionally, it sets up a continuous way for the beneficiary and benefactor to make charitable contributions, without having to manually issue monthly payments.

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Unitrusts

Charitable Remainder Unitrusts

A charitable remainder unitrust is an estate planning tool that provides income to a named beneficiary during the grantor’s life and then the remainder of the trust to a The CC Taylor Foundation. The donor or members of the donor’s family are usually the initial beneficiaries. The trust provides variable income to the beneficiary, which is based on a percentage of the fair market value of the assets in the trust. This amount is revalued each year.

This type of gift is usually funded with a valuable asset, such as artwork, a house, stocks, bonds, or other property. Additional assets can be added to the trust over time. So that the trust is not simply used to avoid taxes, the federal government requires that The CC Taylor Foundation receive at least 10% of the asset’s value.

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Annuity Trusts

Charitable Remainder Annuity Trusts 

A Charitable Remainder Annuity Trust is a type of gift transaction in which a donor contributes assets to a CC Taylor Foundation trust which subsequently pays a fixed income to a designated beneficiary, in the form of an annuity. The value of the annuity is calculated as a fixed percentage of the initial value of trust's assets, but that amount must be no less than 5%.

This arrangement lasts until the donor passes away, at which time any funds remaining in the trust are then donated to a The CC Taylor Foundation pre-chosen by the donor.  This type of gift offer a sense of reliability, in that their beneficiaries enjoy a guaranteed income stream every year, where the amount received never fluctuates--regardless of the trusts' investment performance. For example, a gift with an initial value of $4,000,000 and a 5% payout would pay $200,000 annually to the income beneficiary, regardless of the returns of the underlying assets and economic conditions.

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