Our premiere fundraising event is "An Evening in the Garden". This event began in 2010 as a way to showcase the beautiful sensory garden located at Brunswick Center Services (BCS). It is held every June in a tent at BCS located by the sensory garden. Also highlighted at this event is the artwork created by the participants at BCS. In 2012, over 200 people typically attend the event and have the opportunity to bid on almost 100 live and silent auction items.
An outright gift of cash or appreciated securities is the easiest type of gift to make to ARC. Gifts of cash are fully tax deductible up to 50% of your adjusted gross income; gifts in excess of 50% may generally be carried forward and deducted over subsequent years. Gifts of appreciated stock (which you have held for more than one year) offer substantial tax savings as well. If you sell the stock, you must pay a capital gains tax. If you donate the stock to ARC, you avoid having to pay the capital gains tax. Furthermore, your gift of stock is fully tax deductible up to 30% of your adjusted gross income. The tax deduction is based on the fair market value of the stock at the time of the gift. Gifts in excess of 30% may generally be carried forward and deducted over subsequent years.
A gift to ARC of real property, such as personal residences, vacation home, farm acreage or vacant lot can offer a twofold tax saving. If the property has appreciated in value during your ownership, you must pay a sizeable capital gains tax when you sell it. If you make a gift of the property, you receive a charitable deduction for the full fair market value of the property and you also avoid having to pay the capital gains tax. You may also make a gift to ARC of a remainder interest in your personal residence, and continue to live there during your lifetime, while still realizing a tax deduction in the year you make the gift.
You may make a gift of cash, stock, real estate, or personal property to establish a Charitable Remainder Unitrust or a Charitable Remainder Annuity Trust. Either option will provide income to you and/or a loved one for the rest of your life, after which the trust's assets revert to ARC. By making this gift, you can increase your income and make a tax-deductible contribution at the same time. (The rate of return you will receive is dependent on many factors, most notably your age at the time of the gift). This type of gift is irrevocable.
You may make a gift to set up a trust whereby ARC will benefit from the interest income for a specified period of years. At the end of that time, the principal may pass to your heirs free of tax.
You may make a gift of life insurance to ARC that provides you with a significant tax deduction. This can be done by purchasing a new policy or by donating a policy that you currently own but no longer need. You may also use your tax savings from gifts of cash, appreciated securities, or property to ARC, to purchase life insurance in a tax-wise manner to "replace" these assets for your loved ones.
You may make a gift to ARC of retirement benefits, thus removing your retirement plan assets from your estate and avoiding taxes potentially as high as 80%.
You may wish to include a bequest to the Rensselaer County Chapter NYSARC, Inc., in your will. Your bequest is fully deductible for federal estate purposes and you also receive a New York State estate tax deduction. The following language is appropriate for donors who would like their bequest to become part of the Rensselaer ARC Endowment Fund, which will last into perpetuity:
I give and bequeath to Rensselaer County Chapter NYSARC, Inc., of Troy, New York, the sum of $________(or, its equivalent value) (or, _____% of my residuary estate), the principal thereof to be invested and the income therefrom to be used to provide services to individuals with intellectual disabilities and other developmental disabilities, the same to be held as part of the General Endowment Fund of Rensselaer County Chapter NYSARC, Inc., and administered as an integral part thereof.