Information
for Advisors
The following information is provided for those who would like more details about the gift planning opportunities introduced in this Web site.
In order to receive maximum income tax benefits from your charitable gifts, you must be in a position to itemize deductions on your income tax return. What if you don't have enough deductions to qualify for itemization in a given year? By combining more than one year's charitable gifts and other deductible expenditures into a single tax year, you may be able to boost your total deductions over the minimum amount required in order to itemize. As a result, it may be possible to reap tax benefits from otherwise non-deductible charitable gifts and other expenses (such as property taxes on a home).
WWF's Full Legal Name and Tax ID Number
WWF's Board of Directors suggests you use the following language in order to avoid any confusion:
“I give ___________ (specific amount or property, percentage, or residue) to World Wildlife Fund, Inc., having its principal offices at 1250 Twenty-Fourth Street NW, Washington, DC 20037, for its general purposes to save life on Earth.” Tax ID Number: 52-1693387
Gifts earmarked for WWF's general purposes allow WWF to use the funds where they are most needed.
Carrying Over Excess Deductions
If you give more than the deductible limits for gifts in any one year, you may "carry over" any remaining deductions and make use of them
in as many as five additional tax years.
Giving Appreciated Property
Certain property that has increased in value and been held for the long-term holding period defined by law (currently one year and a day) is generally deductible for its current market value up to 30% of adjusted gross income (AGI). Exception: Tangible personal property (art, antiques, collections, jewelry, etc.) is deductible at full present value only if it is used in the furtherance of the recipient's tax-exempt purpose. If not (for example, if it is to be resold immediately), your deduction is generally limited to the original price paid for the property or its current value, whichever is lower.
Appraisals. To claim a deduction for certain gifts of non-cash property, it is necessary to obtain a qualified appraisal of the property. A “qualified appraisal” is required when non-cash property gifts have a claimed value of more than $5,000 ($10,000 for gifts of closely held stock). Exception: Publicly traded securities, such as stocks and mutual funds. See
IRS Form 8283
(PDF, 38k) for details.
Gift substantiation rules. For all gifts of $250 or more, donors must have a written acknowledgment and retain it with their tax records. Such letters must state the value of any benefits received by a donor in connection with their donation.
Guidelines for Drafting Charitable Trusts
In order to assure qualification for tax benefits, charitable trusts should be drafted by an attorney (as should wills and other legal documents).
To aid drafters of charitable remainder trusts, the IRS has issued specimen provisions to be included in the trust agreements. Many of these can be found in Rev. Proc. 2003-53 through 2003-60 and Rev. Proc. 2005-52 through 2005-59. Specimen forms for charitable lead trusts are available from research sources. Charitable trust forms that are preferred by particular fiduciaries are also typically available from them upon request.
Calculating Tax Benefits
As a service to those interested in making gifts to World Wildlife
Fund, we are pleased to make available the ability to obtain estimated tax deductions associated with the gifts mentioned on this Web site. These calculations are intended as estimates only. They will vary on a monthly basis depending on prevailing interest rates and other factors, and they should always be independently verified by a donor or their advisors prior to completing a particular gift.
Please call WWF gift planning at 1-888-993-9455 or e-mail legacygifts@wwfus.org
for more information.
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