About Gift Giving
If you believe in the Acoustical Society of America and the role it fulfills in the world of acoustics, you will want to make donations to the Acoustical Society Foundation Fund. Your contributions will support new and existing initiatives of the Acoustical Society of America. The Acoustical Society Foundation Fund accepts donations utilizing virtually all forms of donation and planned-giving instruments.
Charitable Bequest (as in a will)
This giving mechanism has become an important part of the American philanthropic tradition because a gift in one's will can oftentimes exceed the magnitude of gifts that one can give while alive.
- A bequest can be for an unrestricted or restricted purpose.
- A will can be changed (revocable) if charitable priorities change.
- A bequest can be combined with other charitable giving instruments, and sometimes can lower the value of the estate used in assessing estate (inheritance) taxes.
Pooled Income Fund
A trust set up by the Acoustical Society Foundation Fund accepts contributions of cash or other liquid assets, including those that have appreciated over time. A pooled income fund allows commingling of irrevocable donations from many separate donors for investment purposes. Each donor is an income beneficiary and receives a proportionate share of the net income earned by the fund each year, paid quarterly. Upon the death of a beneficiary, a portion of the pooled income fund, representing the value of the units assigned to that beneficiary, is distributed to the Acoustical Society Foundation Fund general endowment. Minimum initial contribution is $5,000.
- A portion of the contribution is tax deductible
- For appreciated properties, such as stocks or collectibles, all capital gains taxes are avoided.
- Contributor receives income for the rest of his or her life.
- If an asset is donated that currently yields little or no income, such as a growth stock, income on the asset will increase as part of the pooled income fund.
This is a popular type of life payment plan where, like our Pooled Income Fund, you can make a substantial gift to the Acoustical Society Foundation Fund while obtaining significant current tax benefits, and yet you can still receive life income payments related to your contribution. Charitable remainder trusts come in different varieties. Generally, income payments may be made quarterly, annually or for intervals up to 20 years. Charitable tax deductions depend upon the value of the assets donated, the payout rate, the ages and number of beneficiaries, and the term of the payments. Consult your estate plan or tax adviser to review the various forms of Remainder Trust that are available for you.
Life insurance gifts are unique and appealing in many regards. A currently owned policy, or a policy purchased for the purpose of a charitable contribution may be given to the Foundation. Relative to a bequest, life insurance payments are more immediate and whole, avoiding delays or costs that can occur in conjunction with settlement of an estate.
- Life insurance contributions do not diminish the size of an estate left to your heirs.
- Insurance claims are discreet, and are not a matter of public record as is true for many wills.
- If the Acoustical Society Foundation Fundis designated as the owner and beneficiary of your policy, then the premiums are tax deductible as charitable gifts.
- If a current policy is to be employed, as the current beneficiary may no longer need the intended life insurance protection, changing the beneficiary to the Foundation may be a very simple way to make a contribution, relative to other gift giving mechanisms that are more involved.
Charitable Lead Trust
If you wish to make a substantial gift to the Acoustical Society Foundation Fund over a period of years while ensuring that your property will ultimately return to you and your estate, the lead trust may be an appropriate charitable giving instrument for you.
- Obtain current tax deductions based upon annual payments to the Foundation.
- Income each year to the Acoustical Society Foundation Fund is tax exempt.
- Upon death, or after a set period of years, the assets return to you, your estate or your designated beneficiaries.
- This guarantees protection of assets to be passed on to your heirs, children or grandchildren.
This is among the oldest, simplest and most popular of charitable life-payment plans. In exchange for the donation of cash, property or other liquid assets, the Foundation contractually guarantees to make specified annuity payments to the donor and/or another beneficiary. The minimum age of either beneficiary is 45 years of age. State laws may restrict the types of property donated. The payout rate is set by agreement between the donor and the Foundation, based upon the age and number of beneficiaries, and the current rates published by the Council on Gift Annuities (a national association of philanthropic organizations that reviews these rates objectively). The minimum initial contribution is $100,000.
For information about making a donation to the Acoustical Society Foundation Fund or for other information please contact
Acoustical Society Foundation Fund
1305 Walt Whitman Road, Suite 300
Melville, NY 11747-4300
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