There are several types of trusts which may be donated as a gift to The Arc Jacksonville.
Special Needs Trust
Also known as a “supplemental needs trust,” a special needs trust holds assets for a beneficiary with special needs in order to supplement the individual’s income without impacting his/her eligibility to receive other benefits. Depending on the type of trust, benefits will be paid for life or for a term of up to 20 years.
Charitable Remainder Annuity Trust and Unitrust
Are you concerned about capital gains taxes associated with the sale of property or other appreciated asset? If so, a charitable remainder trust offers a solution that may benefit you and The Arc Jacksonville.
To establish a charitable remainder or annuity trust, you simply transfer cash or assets to the trust. In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free. The trust is then invested to pay income to you or your designated trust beneficiaries. Depending on the type of trust, benefits will be paid for life, a term of up to 20 years or life plus up to 20 years. The Arc Jacksonville will benefit from what remains in the trust after all trust payments have been made.
Donor Benefits
By naming The Arc Jacksonville as a beneficiary of your charitable remainder or annuity trust, you will:
- receive an income for life, a term of up to 20 years, or life plus a term of up to 20 years
- potentially avoid capital gains on the sale of your appreciated assets
- receive an income tax deduction in the year you transfer the assets to the trust
- receive an immediate charitable income tax deduction for the charitable portions of the trust
- enjoy the satisfaction of knowing your gift will help The Arc Jacksonville empower and support individuals with intellectual and developmental differences
- ensure the sustainability of The Arc Jacksonville’s programs and services for future generations