The Heritage Society
Make a Lasting Gift to The Ireland Funds America – Join the Heritage Society
The Ireland Funds America can turn your philanthropic vision into action. The Ireland Funds America’s long-standing presence in Ireland and the United States allows us to offer a range of benefits and services to those electing to make lasting gifts.
Benefits of The Heritage Society include:
Flexible Giving Through a Donor Advised Fund
We tailor your Donor Advised Fund to meet your philanthropic ambitions. Individuals, families or corporations can establish a fund quickly and easily through The Ireland Funds America. Whether by gift, bequest or otherwise, a new donor advised fund may be designed at any time in consultation with The Ireland Funds America staff. Setting up a donor advised fund is efficient, economical and fast and it can take less than a day.
Administration & Professional Staff
The Ireland Funds America takes responsibility for all administration, giving you the freedom to focus on your giving. Staff members of The Ireland Funds America are available to work professionally and confidentially with you in creating your philanthropic legacy. You will be invited for a consultation when establishing your lasting gift, and, if requested, a philanthropic investment portfolio will be developed based on your areas of interest. As requested, The Ireland Funds America will compile data to assist you in selecting projects for funding.
Connecting With Your Charities
Site visits to your selected charities can be arranged by the staff in our Dublin office. Updates and project evaluations will also be developed for you quarterly or as requested.
Tax Benefits
For those subject to American taxation on any of their income or assets, donations to The Ireland Funds America may be taken as a deduction against that income or, in the case of an estate the taxable value of the estate. In addition, you save the cost of establishing and administering a private foundation, and legal fees.
When you make a gift to The Ireland Funds America, you have enormous flexibility in determining how the contribution will be used, as well as many tax-efficient options to choose from:
Cash Gifts
One of the most efficient and popular ways of realizing your philanthropic interests is through giving a tax-effective cash gift to The Ireland Funds America. This form of giving enables you to provide any level of support. Cash gifts may either be designated for a particular charity or area of interest, or may be given as an unrestricted gift to the areas we determine have the greatest need. Secure donations can be made online.
Gift of Securities
Making a gift of appreciated securities may offer considerable advantages for you. For donors not subject to the alternative minimum tax, such gifts are deducted at a full market value at the time of the gift, up to 30% of the individual donor’s adjusted gross income. No capital gains tax is paid.
Donor Advised Funds
Donor advised funds are excellent giving vehicles for those who wish to participate actively in the grant making process. With a donor advised fund, you retain the right to serve as an advisor, making grant recommendations for consideration by our Board of Directors. A donor advised fund at The Ireland Funds America gives you the greatest giving flexibility and maximum tax benefits without the burden of administrative details.
Bequests
A gift from your will is another way of offering significant support to The Ireland Funds America. Your gift, whether it is money or property, provides lasting support while providing tax benefits to your estate. Leaving a gift to The Ireland Funds America in your will is your opportunity to make a tangible and lasting gift to the island of Ireland and it builds a bridge between the past and the future, helping ensure the charities you value today will continue to make a difference tomorrow. Since The Ireland Funds America is a public charity under Section 501(c(3) of the Internal Revenue Code, a bequest in any amount will not be subject to U.S. federal estate taxes, and will be similarly exempt from estate taxes in most of the states that have such taxes.
Real Estate
Gifts of appreciated real estate offer many tax advantages. It may also be beneficial for you to make a gift to The Ireland Funds America of a future interest in real estate. You might, for example, retain life interest in a residence and give the remainder interest to The Ireland Funds America. Such a gift gains an income tax deduction for you in the year of the gift and also eliminates any estate tax on the property.
Gifts of Life Insurance
In most states, gifts of life insurance policies may be made by naming The Ireland Funds America as owner and beneficiary. You can receive an immediate income tax deduction of the policy’s present value and eliminates the proceeds of the policy from your estate. The premiums paid thereafter by you are deductible from federal income tax.
Life Income Gifts
There are a number of ways in which gifts can be made subject to life income agreements including annuity trusts, uni-trusts and a pooled income fund. Income is paid to you or a named beneficiary. With such a gift, you can receive a lifetime income from it with the remainder interest added to a fund specified by you. There are often substantial income and estate tax benefits under such agreements.
Gifts of Personal Property, Such as Art Work, Rare Books, etc.
Gifts of all forms of personal property (such as art collections, rare books and other collections) and other items which can be used to further the goals of The Ireland Funds America to promote an awareness and understanding of Ireland and its culture, are always most welcome. These gifts are subject to special rules as to the valuation at the time of the gift (and hence the amount of the available income or estate tax deduction). They are also subject to practical limitations on the subsequent use of the gifted property by the Fund, in order to ensure that the items are truly used to further the charitable purposes of the Fund. The Ireland Funds America is expert in ensuring that these gifts are suitably documented so that there is clarity as to both their valuation and their subsequent use by the Fund.
For advice in relation to tax planning, we recommend you consult a professional tax advisor to ensure you can maximize your generosity to The Ireland Funds America
The Ireland Funds America is a tax-exempt organization, incorporated under the laws of the United States and has been determined by the IRS to be a public charity under section 501(c) (3) of the Internal Revenue Code. The Ireland Funds America’s tax ID # is 25-1306992
For more information on The Heritage Society and making a lasting gift to The Ireland Funds America please contact
Conall McGonagle
The Ireland Funds America
345 Park Avenue, 17th Floor
New York, NY 10154
T: 212 689 3100
cmcgonagle@irelandfunds.org
