Columbus Audubon has established a Planned Giving Program to encourage members and non-members to include Columbus Audubon in their estate planning. Charitable contributions can be made in an unrestricted fashion for the general use of Columbus Audubon, or may be designated for deposit into one of the three endowment funds established by the Board of Trustees: Education Fund, Conservation Fund or Operating Fund. Bequests and donations directed to the funds will be invested, and only income from the investment will be spent. In other words, a contribution to one of the endowment funds essentially provides a permanent benefit to Columbus Audubon.

One valuable mechanism you may use in your estate planning is a Charitable Remainder Trust (CRT). A CRT is an irrevocable, tax-exempt trust in which you deposit assets to provide income for yourself during a specific period of time (such as your lifetime), after which the remaining assets are donated to Columbus Audubon. This estate planning mechanism is of particular benefit to those owning assets that have substantially appreciated over time. For instance, you may have purchased shares worth $10,000 in 1990 that are now worth $100,000. If you were to sell the shares, you might pay about $18,000 in capital gains taxes. However, you can often avoid capital gains tax entirely by placing the shares into a CRT. The CRT can sell the shares tax free, retain the principal (e.g., $100,000), and pay you an annuity drawn from the principal for the remainder of your life. In other words, you could structure the CRT so you would receive an annual draw of 10 percent from the $100,000 ($10,000 per year) for the remainder of your life (or any smaller time period). Upon your death or the expiration of the designated time period, the CRT donates any remaining principal to Columbus Audubon. A CRT also benefits you by generally permitting you to take a charitable income tax deduction tied in part to the value of the assets contributed to the CRT.

In short, both you and Columbus Aubudon can obtain significant benefits through the use of a CRT. Using a CRT can help you minimize your tax liability through deductions as well as avoid capital gains, and permit you to provide generously for Columbus Audubon's long-term growth.  We hope you give serious thought to taking advantage of a CRT in your estate planning if your tax advisor believes a CRT might be right for you.  Please contact Marc Blubaugh (614-895-0857) or Ben Segel (614-785-6461) with questions.