Being a nonprofit organization (click here to read our Mission Statement), we rely on donations from our members and the public to continue our work. One of those ways is ‘planned giving.’ Outlined here are different ways that planned giving can work for you. *A Note About Legal Counsel: We encourage every donor to consult legal counsel when making a gift. To give a planned gift, please contact Info@Ngakpa.org.
What Gifts are Acceptable
Planned giving can be beneficial for people that want to give later or in increments over time. Giving in this way also allows for different tax benefits. There are five types of planned giving that meet various types of needs for our donors.
- Beneficiary Designations
- Life Estate
- Charitable Remainder Trust (CTR)
- Life Insurance Policy or Retirement Assets
- Legacy Receptacle
A bequest is simply a gift of cash, asset, property or portion of an estate. This gift is written into the donor’s will and left upon their passing.
A beneficiary designation is when a donor leaves a percentage of particular types of assets, for example, an IRA or life insurance policy. These also offer significant tax deductions. These are set up not through a will but through the policy itself.
This is when the donor transfers a home or other property type to Ngakpa International but is allowed to live in the property for the remainder of their life. The benefit is that the donor can live in the property while receiving a large income tax deduction.
Charitable Remainder Trust (CTR)
This type of gift is where the donor transfers cash or property into a specific type of trust called a CTR. A CTR is exempt from income taxes and has the ability to sell property tax-free.
This is useful for people wanting to sell a piece of appreciated property without paying the capital gains tax. After the sale, the donor will get a fixed or variable life-income along with a significant tax deduction. This can be useful for people looking to retire or retirees. After the trust terminates the remainder will be passed on to Ngakpa International.
Life Insurance Policy and Retirement Assets
This is simply donating a portion of one’s life insurance policy to Ngakpa International. There are several methods of doing this, including Charitable Giving Riders, Policy Donations, Naming Ngakpa International as Beneficiary, and Gifting Policy Dividends. Donating retirement assets is a planned gift that can be done during one’s lifetime or set to occur after passing. There are different ways to do this and different tax considerations when doing so.
Please contact contact your insurance representative, estate planner, trustee, guardian, or estate administrator to discuss giving all or a portion of life insurance or retirement assets to Ngakpa International.
Legacy Receptacle Organization
If you are a part of a non-profit that is in the process of dissolving and would like to be able to continue its mission, consider donating some or all of the assets to Ngakpa International. Ngakpa International would like to help advance the mission of similar non-profits who are in a position where they are no longer able to do so, or would like to work together with us in some way(s). Ngakpa International seeks to create mutually beneficial arrangements in order to facilitate this process.
Our organization has a clear mission to be a long run sustaining entity. As such, we would like to invite all founders of non profit organizations to combine their energy and resources, like many streams into one large river, and help us all collectively. Therefore, an action step here is to contribute and pour-over the assets of your non-profit entity into ours and combine our collective strengths. Join our team.
To give a planned gift or for more information, please contact Info@Ngakpa.org.