Gifts that may reduce your taxes

Some legacy gifts made to Anike Foundation can have substantial tax savings.

• Retirement plan gift

You can reduce or even eliminate tax liabilities on your retirement plan by naming Anike Foundation as direct beneficiary. The entire amount of your IRA, 401(k) or other retirement accounts may be taxed if you leave them to your heirs. Instead, consider giving them less tax-burdened assets like real estate and stock, and use retirement assets to create your legacy gift with Anike.

• Life insurance plan

If you have a life insurance policy that has outlasted its original purpose, you can use it to reduce your taxes and create a legacy gift for Anike Foundation.

• Gifts of real estate

You may decide that the greatest gift you can make is to leave your home or farm to Anike Foundation. This kind of gift is ideal for people who intend to continue living in their home or property through their lifetime, but still want to make a charitable gift.

• Gifts of stock

Stocks, bonds and mutual funds that have appreciated in value are among the best ways to ensure that Anike can provide educational opportunities to the neediest Africans.

• Savings bonds

When you redeem savings bonds, you or the person to whom you leave your bonds will owe income tax on the appreciation. You can eliminate the income tax on bonds you own that have stopped earning interest and that you plan to redeem. Since Anike Foundation is tax exempt, 100 percent of your gift of savings bonds will support our mission to provide educational resources to Africans.

Gifts that pay you income

You can receive income for life while bringing quality education to Aficans.

If you are considering this type of gift, we recommend that you consult with your financial advisor and a gift planner at Anike Foundation.

• Charitable remainder trust

You can receive income for life and reduce your taxes while supporting Anike Foundation by transferring assets to fund the trust. Not only does this pay income to you or your beneficiaries for life, you also receive an income tax deduction the year you transfer assets to the trust. The remaining portion of the trust, after all payments have been made, goes to Anike Foundation.

• Charitable gift annuities

You can transfer assets to a charitable gift annuity and receive income for life.

This plan allows you to give a substantial donation to Anike Foundation while receiving tax-favored income for life. Charitable gift annuities offer attractive payout rates for those who want to receive income while providing educational opportunities to Africans in need.