ARI/AFARI Planned Giving Opportunities
Planned Giving is a comprehensive program for long-term financial support of ARI/AFARI through a broad range of charitable gift options. The program actively solicits and accepts contributions to ARI through donations to AFARI through bequests and other advantageous tax, financial and estate planning techniques. The following is a guide to clarify the options and technical aspects of making a bequest or deferred gift to AFARI.
Legacy Bequest in your Will or Trust:
A will is the simplest way to distribute your estate and it can also be used as a creative vehicle to make thoughtful gifts to the charities you care about most. By creating a will you can provide for the needs of loved ones as well as choose to benefit charitable organizations you have been involved with during your lifetime.
You can make a gift of a specific dollar amount, a specific piece of property, or even a percentage of your estate. You can have charitable bequests given for general purposes or to support specific purposes at ARI.
Examples of bequest language are:
I give and bequeath the sum of $X to the American Friends of ARI, to be used in support of its general charitable purposes.
I give and bequeath 10% of the rest, residue and remainder of my estate to the American Friends of ARI, to be used in support of ARI programs
Another option for making a bequest is a trust. Please consult with your legal counsel to determine the best estate planning option for you. The first step to formalizing your intent to remember ARI in your will or trust is to fill out the attached Declaration of Intent, and then meet with your legal counsel to include the bequest in your will or trust. The Declaration of Intent is for internal AFARI use only and is not legally binding on your estate. Until you meet with your legal counsel and revise your estate planning documents your bequest will not become effective.
Bequests of Cash:
Your contribution may be designated for a specific program or it may be left undesignated, available for meeting the agency’s highest priorities. If you wish your gift to be restricted, be sure to clearly indicate your preference in the language of your will or trust.
Bequests of Securities:
AFARI will accept bequests of publicly traded securities, including stocks, mutual funds, municipal and corporate bonds, and treasury bills and notes. AFARI staff and/or advisors will verify the ownership of the security, handle the transfer of ownership, and establish a value for deferred gift calculation purposes, as well as handle the sale, liquidation and/or investment processes related to securities. Such gifts will be reviewed by the Finance Committee and such securities shall be sold immediately upon receipt.
Bequests of Real Estate:
Real estate gifts can include personal residences, rental properties, office buildings, land, and other structures. Unless otherwise negotiated, gifts of property will be converted into cash at the earliest opportunity keeping in mind current market conditions and the use of property in the accomplishments of the mission of ARI/AFARI. Bequests will not be accepted that may expose AFARI to material or personal liabilities as owners of the property.
Bequests of Personal Property:
Potential contributions include art, antiques, jewelry, automobiles, etc. AFARI staff or professional advisors, when appropriate, will review the marketability, accurateness of appraisal and capabilities of AFARI to safeguard these assets until liquidation.
Retirement Plans & Life Insurance:
Retirement funds are a valuable asset often overlooked as an option for a charitable gift. Giving from an IRA, 401K or 403B plan can provide important tax advantages to your estate. By naming a charitable organization, such as AFARI, as the beneficiary to the remaining assets in your retirement fund you avoid the pitfalls of income tax and estate taxes on the distribution of these funds, as well as perpetuate the vital work of ARI and AFARI for generations to come. Another simple way to make a significant gift in the future is to name AFARI as a beneficiary to receive all or part of a life insurance policy. Upon your death AFARI would be gifted with the payout amount of the policy.