Legacy Society for Planned Giving
Extend your investment in eye and vision research beyond your lifetime by including the ARVO Foundation in your estate plans. Planned gifts can accommodate your lifestyle now while securing a strong future for eye and vision research.
Here are some ideas for how easy it is to include the ARVO Foundation in your planned giving:
Gifts through your will or revocable trust (bequest)
You can make a bequest to support the future of eye and vision research by leaving all or some of your estate to the ARVO Foundation in your will or revocable trust. Bequests allow you to retain control of your assets now while making a significant gift in the future. You can modify your bequest at any time to accommodate changes in your life circumstances. If your estate is large enough to be subject to federal estate tax, your gift will reduce the amount of your estate that is subject to tax. To make a gift to the Foundation, you can use the following language:
I give $________ [or __% of the residue of my estate] to The ARVO Foundation for Eye Research, Inc., 5515 Security Lane, Suite 500, Rockville, Maryland 20852.
Gifts through your retirement or life insurance plan
You can make a gift by listing The ARVO Foundation for Eye Research, Inc. as a beneficiary of your life insurance policy or retirement plan, including your 401(k) plan, 403b plan, or Individual Retirement Account (IRA).
You can designate the ARVO Foundation to receive all or a portion of your assets, and you may change your designation at any time should your circumstances change. To name The ARVO Foundation for Eye Research, Inc. as a beneficiary, notify your plan administrator or IRA custodian that you’d like to update the beneficiary on your account. This can often be done simply by updating the beneficiary designation form through your plan administrator. Contact your plan administrator or find this form on your plan's website. If you are married, you will usually need your spouse’s consent to such a gift from an employer-sponsored retirement plan. The plan administrator should be able to provide you with a spousal consent form.
To designate the Foundation as a beneficiary of your life insurance, retirement plan, or IRA, you can use the following language:
I give $________ [or __% of my benefit [account balance] to The ARVO Foundation for Eye Research, Inc., 5515 Security Lane, Suite 500, Rockville, Maryland 20852.
Qualified charitable distribution
If you are at least age 70-1/2, you may make a “qualified charitable distribution” from your IRA to The ARVO Foundation for Eye Research, Inc. The maximum qualified charitable distribution in any year is $100,000 minus any qualified charitable distributions that you have made in prior years. A qualified charitable distribution is not includible in your gross income, and for that reason, is also not deductible as a charitable contribution for U.S. federal and state income tax purposes. Contact your IRA custodian for instructions for making a qualified charitable distribution.
Charitable remainder trusts
You can make a gift to The ARVO Foundation for Eye Research, Inc. in exchange for an annuity for your life and the life of your spouse or another individual. A portion of the amount of the gift is a deductible charitable contribution; the deductible amount depends on the ages of the beneficiaries of the annuity. If the trust is funded by appreciated stock or other appreciated assets held for a year or more, the full fair market value of the gift will be taken into account in computing your deduction and no capital gain tax will be assessed. When the life beneficiaries have died, the remaining portion of the gift is given to the Foundation and is not included in your estate for estate tax purpose.
Charitable lead trust
You can also make a gift to the ARVO Foundation by a gift that provides income to the Foundation for a period of years. At the end of the period of years, any remaining amount is distributed to the donor or others designated by the donor.
Other types of planned gifts
To discuss other types of planned gifts, for more information and sample language that may be helpful to you and your estate planning attorney, or if you wish to establish a charitable remainder or lead trust, please contact us at firstname.lastname@example.org.
Disclaimer: This information is not intended to be legal or tax advice. Please consult with your own legal and financial advisors in developing an estate plan that is right for your circumstances.