General PETA Information
5 Easy Ways to Help Before Dec. 31
Make a Difference With These Smart Donation Options
The end of the year will be here before we know it. It is important to start planning now for how you want to make an impact this year. There are many gift options from which to choose, several of which offer attractive benefits for you while supporting People for the Ethical Treatment of Animals. Here are five popular ways to help before the year comes to a close:
- Give cash. Cash is an easy way to give each year and can be used to prepay a pledge. To document a cash gift of any amount, you must have a dated receipt from PETA. Make certain you receive one. A canceled check provides sufficient documentation only for gifts by check if they are less than $250.
- Give appreciated stock or other property. When you give property to PETA, we’ll sell it and you will eliminate all the capital gains tax you would have paid had you sold it. Your gift will be deductible at its full fair market value on its date of delivery if you have held it for more than one year.
- Invest in a life income plan. A life income gift provides you with payments for the rest of your life and PETA with support thereafter. If you use appreciated securities that you’ve owned longer than a year to fund the gift, you will be entitled to an income tax deduction based, in part, on the charitable portion of the securities’ full value, in addition to eliminating up-front capital gains tax.
- Give real estate, artwork or other tangible personal property. Give property that would have resulted in the greatest capital gain if you would have sold the asset instead.
- Donate an insurance policy. A gift of a life insurance policy you no longer need makes a perfect year-end gift. To qualify as a deductible gift, PETA must become the policy owner. For most types of insurance policies, your tax deduction is usually the cost basis or the fair market value of the policy—whichever is less.
Giving Made Easy at People for the Ethical Treatment of Animals
Contact Tim Enstice at 757-962-8213 or Legacy@peta.org for helpful tips about getting the most from your gift this year.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to People for the Ethical Treatment of Animals a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to PETA or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to PETA as a lump sum.
You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to PETA as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and PETA where you agree to make a gift to PETA and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.