Simply Cats

A planned gift to Simply Cats is one of the most effective ways you can support us and ensure that we are able to carry out our mission of providing care for, protecting, and finding quality homes for the cats entrusted to us now and far into the future.

Through a planned gift, you may be able to increase your current income or provide additional retirement income, while reducing income tax and estate taxes. Some types of gifts virtually eliminate estate taxes, while others greatly reduce the amount of tax you are responsible for during your lifetime. It is important to explore your options so that both you and the cats receive the full benefit of any considered gift. Our representatives will be happy to discuss opportunities with you at your convenience.

The most common types of planned gifts are:

1. Bequests
   Through your Will or Living Trust, you can gift to Simply Cats a fixed amount or a percentage of your estate. The following language in your Will is recommended:
   “I give, devise, and bequeath the sum of $____ to Simply Cats, a non-profit corporation, located in Boise, Idaho.”

2. Retirement Plans
   Tax-deferred IRA and 401K plans may be vulnerable to high income and estate taxes. Naming Simply Cats as a beneficiary will reduce these taxes and allow you to leave other assets to heirs.

3. Appreciated Assets
   Donate stocks, bonds, or real estate to fund a planned gift, and avoid substantial capital gains taxes on these assets. If you donate appreciated securities that you have owned for more than one year, you get a deduction for the full market value of the securities, even when it is greater than the amount you paid.

4. Life Insurance Policies
   Paid-up policies: Do you have a policy that has outlived its intended purpose? The ownership of such policies can be transferred to Simply Cats; the organization would then surrender the policy for its cash value. You receive an immediate income tax deduction for the gift of the policy up to the cash basis, or what you paid for it.
   New Policies: You can take out a policy and make Simply Cats the owner and beneficiary of the policy. Premium payments can be made by you directly to the insurance company or by Simply Cats, by way of your annual gift to the organization. Whichever way the premiums are paid, you can take an income tax deduction.

5. Charitable Gift Annuities
   A Simply Cats charitable gift annuity will provide an immediate or deferred fixed-income stream. This is an excellent way to increase retirement income or help support aging parents. Payout rates are based on age, and a portion of your payment will be tax-free. The donor will also receive a charitable income tax deduction in the year of the gift.

6. Trusts
   A charitable lead trust will generate funding for Simply Cats until the time comes to transfer the remainder of the fund to your heirs. In the meantime, taxes can be minimized. A charitable remainder trust will provide lifetime income to you or your heirs, along with some tax benefits. When the income payout period ends, the remainder of the trust flows to Simply Cats.

7. The Pension Protection Act of 2006
   If you are age 70 ½ or older, you can make an outright gift to Simply Cats by transferring funds directly from your individual retirement account (IRA) without paying federal income taxes on the distribution. In 2007, a gift of up to $100,000 may be made.

Note: Simply Cats does not provide financial, tax, or legal advice. We encourage you to consult with an attorney, financial planner, or other expert of your choice. For more information on including Simply Cats in your planned giving, please contact Sheri Schneider at 208-343-7177 or sheri@simplycats.org.