Just fill in Bay Area Legal Aid and the designation number 3827 on your pledge form. If you own appreciated stock or other securities that you have held for at least a year, a gift of stock offers multiple benefits. If you choose to buy a new policy, annual premiums paid by the donor on such policies are tax deductible. Or, you may simply name BayLegal as a beneficiary of a life insurance policy that you now carry. To receive a charitable income tax deduction you must make BayLegal the owner of the policy.
Charitable bequests are estate tax deductible.
This option provides several benefits to the donor. Your contribution will help eliminate capital gains taxes, reduce income taxes through a larger charitable deduction, reduce estate taxes by taking an asset out of your estate and increase spendable income for you and your loved ones. Every person deserves to know that the basic needs in their life will be met. However, for many Bay Area residents taking care of these needs is a daily struggle. Each year, thousands of low-income Bay Area residents face homelessness, hunger, domestic abuse, and lack of basic health care.