Green Oak Consulting Group provides a high level of consulting support, saving clients both time and money. Green Oak staff work with individual charities to develop an effective and budget-conscious planned giving strategy. Rather than relying on a series of standardized formulas, Green Oak staff evaluates the charity’s mission and gift capacity to create a program that is targeted to the charity’s specific needs and budget.
Green Oak staff provides an array of consulting services depending upon a charity’s needs. Specific engagements have included:
• Audits of planned giving programs as charities merge or want to define goals more clearly
• Interim planned giving program management as a charity searches for a full-time staff person
• Planned giving counsel for capital campaign operations
• Technical assistance to support current planned giving staff
• Convening at Board retreats and ongoing Board education about planned giving
• Charitable gift licensing and reporting for all 50 states, plus continuing compliance services
• Hourly consultations with donors in complex situations
• Serving as a continuing part of the fund development team with charities that want to provide quality planned giving services on a limited budget
• Helping organizations start a comprehensive fund development program
Green Oak provides an array of experiences, skills and knowledge that sets it apart from both large organizations and individual local consultants. Briefly, Green Oak provides planned giving support through:
• Personalized, timely support
• Comprehensive knowledge and support services to meet individual charity’s needs
• An array of unbundled services that can be tailored to the charity’s specific needs
• Experience in working with clients at the national, regional, state and local levels
• Over 20 years of planned giving consulting experience
• Understanding of both multi-site networks and stand-alone organizational needs
• A commitment to the charity and its donors to provide ethical and effective support
An Illustration of a Planned Giving Strategy:
CHARITABLE TAX PLANNING
A Tax-Efficient Way to Make Charitable Donations
Introduction
If you are like many other individuals, you may have acquired sizeable assets over your lifetime that you would like to turnover in favor of other more profitable investments. An outright sale of the assets is an alternative, but would increase your income and estate taxes leaving less for reinvestment for you or a charity you wish to support.
Charitable Tax Planning Service
As a solution, we have created a CHARITABLE TAX PLANNING SERVICE designed for individuals interested in making tax-efficient donations through a Charitable Remainder Trust (CRT). The inherent financial benefits for funding a CRT include:
Ability to sell appreciated assets without adverse tax consequences
Current tax deduction
Lifetime of income
This service also provides peace of mind to individuals making a gift for charitable purposes and, if desired, the public recognition for philanthropy. The charitable organizations benefit from the knowledge of receiving a future gift in order to better plan future activities.
Eliminate Capital Gains Tax
The CRT is a tax-exempt trust, which allows for the sale of highly appreciated assets such as securities or real estate. All assets transferred to or sold within the trust are considered tax-free transactions. As a result, you do not incur capital gains taxes and more assets remain in the trust to generate a larger income stream.
Tax Deduction
One of the immediate benefits of funding a CRT is that you will receive an income tax deduction in the same year you make the contribution. The tax deduction can be used against all types of income: passive, portfolio, or active. Upon distribution, estate taxes are avoided as the trust is outside your estate and the ultimate beneficiary is a charity.
Lifetime of Income
Each year, the trust will pay you a specified amount. It can be a dependent on the value of the trust either initially or annually, or an amount equal to the total amount of dividends and income earned. The assets can be invested to provide both capital appreciation and income. Due to its tax-exempt status, all earnings within the trust compound tax deferred accelerating the asset value. And as the asset value of the trust increases, the amount of income you receive increases.
Tax-Free Inheritance
Through a CRT, your assets automatically go to specified charities. So, what about leaving an inheritance to your heirs? There are several options that can be used in conjunction with a CRT to replace the gift asset including an extension of the trust or the use of life insurance through a Wealth Replacement Trust.
A POWERFUL COMBINATION
The Charitable Remainder Trust and Wealth Replacement Trust combination is a powerful income, estate, and charitable tax planning tool. It is a “win-win-win” situation.
You win by increasing current income and reducing income and estate taxes.
Your heirs win by receiving a tax-free cash inheritance equal to the gifted asset.
Charities you believe in win by receiving a future gift to help fund essential programs.
Professional Management and Administration
The CHARITABLE TAX PLANNING SERVICE can relieve you of the responsibilities of managing investments and/or property. We provide a turnkey service including professional money management and administration. Our professional staff makes all of the investment decisions based on a predetermined strategy designed specifically for your trust. An experienced staff provides all of the administrative needs of the trust. Services include performance reporting, tax deduction calculation, trust valuation, income distribution, and tax reporting.
Client Service
We are available for personal meetings to discuss the implementation, management, and administration of your trust. You will receive quarterly performance reports to keep you up-to-date on the results of your trust’s investments. In addition, you will receive monthly custodial statements and copies of confirmations. We also provide a toll free phone number to our client service department who can answer any of your questions as well as determine the current value of your trust.
Expertise
Our organization specializes in charitable giving. We recognize that there is no such thing as a typical charitable plan. Programs must be tailored to meet your philanthropic desires and economic circumstances. We can provide information on your current circumstances and propose solutions to fit your needs. Some additional charitable opportunities your advisor can help you consider include:
Charitable Lead Trust
Charitable Gift Annuity
Retained Life Estate
Supporting Organization
7/2009
© 2009 Green Oak Consulting Group. All rights reserved.
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