Your Legacy Gift & Planned Giving will help secure the future of The All-American Boys Chorus for generations to come.

Major benefits for the AABC and for you!

Planned Giving—in consultation with your accountant or attorney—can enable you to reduce or bypass capital-gains taxes, lower current income taxes, reduce federal estate taxes and increase current income. Your donations can create substantial bottom-line benefits for you and your family.

That’s the wonderful thing about planned giving: Even as you give, you receive. It’s definitely a win-win proposition! 

Planned Giving Options

Besides gifts of cash or securities, there are additional ways of supporting The All-American Boys Chorus through planned giving.

Please note that the purpose of this information is to provide general information only. AABC staff will be happy to work with donors and their legal and financial advisors to develop specific gift planning that meets the donor’s needs.

Gifts of Insurance

Insurance gifts provide a tax deduction for a donor who transfers ownership and names The All-American Boys Chorus as beneficiary of a new or existing policy. The policy may be paid-up insurance that the donor no longer needs. If the policy requires continuing premium payments, the payments are fully deductible as outright cash gifts.

Bequests

Cash, securities, real estate or other property may be bequeathed to the AABC by a clause in the donor's will or by a codicil added to the will. The donor retains full control and use of the property during his or her lifetime. At the time of the donor's death, the bequest qualifies as a charitable deduction for estate tax purposes. A bequest may be made for a specific dollar amount, a percentage of the estate, or as a contingent gift, depending on the circumstances of other beneficiaries. It is important that bequests be correctly designated to The All-American Boys Chorus, Costa Mesa, California. 

Life Income Gifts

Donors may wish to consider various forms of "planned gifts" that support the AABC while providing tax and income benefits tailored to the financial needs of the donor and his or her loved ones. Creating a charitable trust with appreciated assets may accomplish a number of objectives:

 
Avoiding taxes on the appreciated value of stock (capital gains);

• Receiving a higher rate of income for life and for the life of a loved one;

• Providing for asset management for a loved one in the future;

• Receiving an estate tax deduction; and

• Achieving the satisfaction of supporting The All-American Boys Chorus in perpetuity.

To encourage private support of institutions that serve the public good, Congress has enacted laws that provide significant tax benefits for planned gifts to qualified charities, like the AABC. For example, irrevocable charitable remainder trusts provide a tax deduction for a gift that will not be received by the AABC until the death of the donor (and/or other beneficiary). In the meantime, the donor (and/or someone he or she designates) receives the income generated by the gift. If a charitable remainder trust is funded with appreciated securities, the donor receives a tax deduction - and income - based on the current value of the securities, while avoiding taxes on the capital gain.

Charitable Lead Trust

A charitable lead trust works in the opposite way. Funds put into the trust pay income to the AABC for a set period of years, after which the asset returns to the donor or someone he or she designates. Lead trusts are often used to transfer assets to children or grandchildren while making a meaningful gift and saving on taxes. The tax deduction in the year of the gift is determined by actuarial tables and is based on the age of the donor and/or other income beneficiaries - as well as the specific type of gift.

Life Estate Gifts

A donor may receive tax benefits by making a gift of a personal residence to the All-American Boys Chorus, while continuing to live in it for his or her lifetime and retaining lifetime residence rights for a spouse or other party. A life estate gift could be combined with a life income gift, permitting the AABC to provide the donor with income for life as well.

For more information please contact:

AABC Executive Director Tony Manrique at (714) 708-1670 ext 11 or email a.manrique@taabc.org