Community Arts Music Association (CAMA)
PLANNED GIFTS TO CAMA
From bequests to living trusts to life insurance to real estate, there are many ways to make a planned gift to CAMA. By doing so, you can earn valuable tax deductions or exemption from estate tax. Learn about the many ways to organize planned giving.
Bequests - click for more information.
Revocable living trust
Your goal: Make a revocable gift during your lifetime.
How to make the gift: Name CAMA as the beneficiary of assets in a living trust.
Your benefits: You maintain control of the trust for your lifetime.
Gift of personal property
Your goal: Share your enjoyment of a collection or other personal item.
How to make the gift: Donate tangible personal property related to CAMA's exempt function.
Your benefits: Charitable deduction based on the full fair market value.
Gift of life insurance
Your goal: Make a large gift with little cost to yourself.
How to make the gift: Contribute a life insurance policy you no longer need and/or name CAMA as beneficiary.
Your benefits: Current income tax deduction; possible future deductions through gifts to pay policy premiums.
Gift of retirement assets
Your goal: Avoid the twofold taxation on IRAs or other employee benefit plans.
How to make the gift: Name CAMA as the beneficiary of the remainder of the assets after your lifetime.
Your benefits: Allows less costly assets for your heirs.
Gift of real estate
Your goal: Avoid capital gains tax on the sale of a home or other real estate.
How to make the gift: Donate the property to CAMA, or sell it to CAMA at a bargain price.
Your benefits: Immediate income tax deduction; reduction or elimination of capital gains tax.
Retained life estate
Your goal: Give your personal residence or farm now but continue to live there.
How to make the gift: Designate ownership of your home to CAMA, but retain occupancy.
Your benefits: Valuable charitable income tax deduction; lifetime use of residence.
Charitable remainder unitrust
Your goal: Create a hedge against inflation over the long term.
How to make the gift: Create a trust that pays a fixed percentage of trust's assets as revalued annually.
Your benefits: Receive a variable income for life; immediate income tax charitable deduction.
Charitable remainder annuity trust
Your goal: Secure a fixed and oten increased income.
How to make the gift: Create a charitable trust or a charitable gift annuity (not availalbe in all states) that pays you a set income annually.
Your benefits: Immediate income tax deduction; fixed income for life, often at higher rate of return.
Charitable gift annuity
Your goal: Supplement income with a guaranteed fixed amount that is partially tax free.
How to make the gift: Enter a charitable gift annuity (not available in all states) contract with CAMA that pays a guaranteed income annually.
Your benefits: Current and future savings on income taxes; stable income for life.
Charitable lead trust
Your goal: Reduce gift and estate taxes on assets you pass to children or grand-children.
How to make the gift: Create a charitable trust that pays fixed or variable income to use for a specific term of years; principal is retained for heirs.
Your benefits: Reduces your taxable estate; your family keeps the property, often with reduced gift taxes.
Pooled income fund
Your goal: Receive a lifelong income stream and avoid capital gains taxes.
How to make the gift: Contributions from several donors are placed in a common trust fund for investment and management purposes. Like a mutual fund, each donor has an interest in a pro rata share of the pooled fund and receives his/her share of all the net, orindary income earned by the fund. After your lifetime, your share of the fund becomes the property of CAMA. The Santa Barbara Foundation manages a Pooled Income Fund for local charities; CAMA works with the Foundation on these types of gifts.
Your benefits: A lifelong income stream; an immediate charitable income tax deduction; avoid capital gains tax on appreciated assets contributed to the pooled fund.
Join CAMA's Legacy Society
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Contact CAMA to request more information on giving opportunities.
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