Many represent long-term investments in the natural resources of Illinois and require financing that will provide years, even decades, of financial support. This effort will help ensure the long-term viability of the Foundation's work. State audits ensure proper control of all investments. Outright gifts are immediate energizers to both the program's income and the taxpayer's tax benefits.
Tax deductions apply but at a lower or deferred rate.
Some plans reduce estate taxes, produce current income tax deductions and provide an attractive source of income to the donor during his or her lifetime. Highly appreciated stock can be used to fund the account, thus avoiding any capital gains tax that would otherwise be due if the stock was sold. Often used for larger gifts, multiple charities can be designated, and a variety of income plans can be established to implement the age, goals and resources of the donor. For example, annuity trusts can provide a fixed annual income for the life of the donor and other beneficiaries. In contrast, unitrusts may produce a growing source of income, dependent upon the results of the trust investments.