Paws for Purple Hearts Planned Giving
There are many ways to help Paws for Purple Hearts accomplish our important mission. Planned Giving allows you to contribute over the long term, including after you pass away, according to your circumstances and desires. We have options that can benefit you, your family and the Warriors we serve, and because we are a 501(c)(3) organization, there are tax benefits for donating.
Consider establishing a great legacy for years to come!
It is easier than you may think.
You can choose to leave all or a portion of your estate to Paws for Purple Hearts when you pass away. You can also leave what is called the “rest, residue and remainder” or set up other conditions as you prefer. It is sometimes advantageous to establish the bequest within a codicil to the will. Once your bequest is established, your attorney notifies us via a “beneficiary letter” and provides us with a “release” document for us to sign to signify our acceptance of your generous gift. Your attorney can set this up for you according to your wishes.
Gift of Special Assets
You can donate a wide variety of special assets, including:
- Real Estate
You can donate a house, a building or land outright, or in part via a “bargain sale” arrangement. Consult with your attorney and Tax Professional (e.g., Enrolled Agent, Tax Attorney). Please involve us in the discussion so we can help you achieve the optimum outcome. Our number and a contact form are provided at the bottom of this page.
- Personal Property – Valuables
You may wish to donate precious items such as jewelry, paintings and antiques. These can be donated outright, or in part via a “bargain sale” arrangement. Consult with your attorney and Tax Professional. Please involve us in the discussion so we can help you achieve the optimum outcome. Our number and a contact form are provided at the bottom of this page.
- Personal Property – Vehicles
Cars, trucks, motorcycles, recreational vehicles and boats can be donated. To donate them outright, just follow the instructions here: https://careasy.org/Paws-for-Purple-Hearts. To donate them in part via a “bargain sale” arrangement, please consult with your attorney and Tax Professional. Please involve us in the discussion so we can help you achieve the optimum outcome. Our number and a contact form are provided at the bottom of this page.
- Life Insurance
You can designate Paws for Purple Hearts as the full or as a partial beneficiary on any life insurance policy. You can also donate the cash value of “whole” and “universal” policies. The insurance company that issues you your policy can set this up for you.
- Stock / Securities
Donating shares of stock (aka “closely held stock”) is easy. Just contact us so we can help you through the process. Our number and a contact form are provided at the bottom of this page.
- Retirement Accounts – IRA, 401k, 403b
You can name Paws for Purple Hearts as the beneficiary (full or partial) of the remaining assets of your account when you pass away. You can also set up a qualified charitable distribution (QCD) in which you donate all or a portion of your distribution, for example an amount in excess of your required minimum distribution (RMD). Just contact us so we can help you through the process. Our number and a contact form are provided at the bottom of this page.
Charitable Gift Annuity
There are two basic versions:
This version pays you guaranteed fixed payments; “income for life.” When you pass away, Paws for Purple Hearts is the beneficiary of the remainder.
This version pays Paws for Purple Hearts the “income for life” payments and then when you pass away, the remainder goes to your designated heirs.
The Remainder version of charitable gift annuity can be set up in several ways, including:
- Single Life – payments are made to only one person or entity.
- Two Life (Joint or Survivor) – payments are made to two people simultaneously. When one passes away, the other receives both payments.
- Two Life (Successive) – payments are made to one person, and when that person dies, a named surviving annuitant receives the payments.
We can work with you and your attorney to help you get the annuity established according to your wishes. Our number and a contact form are provided at the bottom of this page.
Trusts allow you to make sizable contributions over time, all at once, or a combination using a legally defined structure that specifies allocation and distribution terms established according to your wishes. A trust can be configured in numerous ways and may involve a variety of asset classes, including cash, securities and/or other property.
To set up a trust, you would establish a relationship with a Trustee, who acts on your behalf to manage the investment of your assets, reinvest any gains and make income distribution payments to your designated recipient(s). The Trustee may use an Agent (usually a bank or Trust Company) to execute transactions and provide account functions.
There are two basic charitable trust structures:
Remainder trusts are a great way to set aside assets that are committed to be donated to Paws for Purple Hearts after a number of years. During those years, your assets are placed in an investment account so that they can earn income. You retain the right to receive income generated by those invested assets, or to have that income given to a designated beneficiary or set of beneficiaries. The exact income payment amounts depend on the structure of the trust and the performance of its constituent asset(s) as investments. After a certain number of years, or under certain circumstances (all defined when the trust is established), the remaining trust assets are distributed to Paws for Purple Hearts. This is why this type of trust is called a “remainder” trust.
A lead trust has the reverse sequence of a remainder trust. Here, the income payments are provided to Paws for Purple Hearts during the life of the trust, and the remainder goes to designated payees (e.g., heirs, beneficiaries) when the trust terminates.
There are various types of lead and remainder trusts, including:
- Annuity Trust
This is a more conservative structure. It features fixed income distributions determined at trust creation. It is intended to grow assets and protect against downside risk. This approach is designed to leave more assets for the post-termination recipient – Paws for Purple Hearts.
- Net Income Unitrust
This is a moderate approach to risk. It is deigned to achieve “reasonable” income while growing the value of the underlying assets. This approach is designed to leave more assets for the post-termination recipient – Paws for Purple Hearts.
- Standard / Straight Trust
This is a more aggressive approach. The goal here is to achieve maximum returns (payouts) during the life of the trust. This approach is not designed to leave more assets for the post-termination recipient.
- Flip Unitrust / Flip Trust
This type of trust starts out as a net income unitrust then switches (flips) to a standard unitrust upon a specified event such as the sale of trust assets like real estate or closely held stock.
Contact us so we can prepare you so you are ready to meet with your attorney to get your trust established according to your wishes. Our number and a contact form are provided at the bottom of this page.
An endowment allows you to establish a structure to contribute to Paws for Purple Hearts over the long term.
An endowment is similar to a trust in that it involves a legal structure designed to provide investment-based value over a wide time horizon. You can create an endowment to make a donation of money or property that uses any resulting investment income to benefit Paws for Purple Hearts. It is designed to maintain the principal amount while using the investments to create sustained income for Paws for Purple Hearts.
Contact us so we can guide you through the process. Our number and a contact form are provided at the bottom of this page.
Donor Advised Fund (DAF)
A donor advised fund allows you to combine most favorable tax benefits whiles supporting Paws for Purple Hearts.
Just let your participating financial advisory know you want to contribute to us via their DAF.
If you are with Fidelity Charitable, Schwab Charitable or BNY Mellon, please use the “DAF Direct” form to the right of this paragraph. Select your DAF provider, type in “Paws for Purple Hearts” and enter the amount you wish to contribute. The web form tool will forward you to your DAF provider’s website.
If you are not with Fidelity Charitable, Schwab Charitable or BNY Mellon, contact us so we can help get you set up. Our number and a contact form are provided at the bottom of this page.
Call us today at 571-321-5931 to chart a path to a lasting legacy that makes a real difference!
You can also use the form below for any questions or to let us know which type of planned giving you are interested in.
Paws for Purple Hearts – Federal Tax ID 45-3342634
Paws for Purple Hearts
10201 Old Redwood Hwy
Penngrove, CA 94951-9671
Our Core Values
- Professional – We maintain the highest standards in all we do.
- Adaptable – We innovate and create to exceed the needs of America’s Warriors.
- Warriors – Our #1 focus: America’s Veterans and Service Members.
- Service – We eagerly get the job done for internal and external customers alike.
“The whole point of Paws for Purple Hearts is that it builds on the time-honored tradition of soldiers giving a hand to other soldiers, just like we did on the battlefield together.”
— Steve Moore, Sergeant, U.S. Army (Ret.)