SMARANA, was born after the discussions with parents and Families over a cup of
coffee. Ever since that cup of coffee, SMARANA has existed because of the generosity
and compassion of others. As a non-profit organization without the support of our
friends, SMARANA could not exist. Various donations are needed:
Donate Items - Kitchen items (appliances, large and small), dinnerware, furniture,
books, electronics (computers, televisions, etc.), vehicles, etc. All of these items
will be used by SMARANA and are items that, from time to time, need to be replaced.
Donate Services – You can donate many types of services. These include, but are not limited
to: landscaping (design and maintenance), plumbing, vehicle repair, HVAC repair
and/or maintenance, delivery services, cleaning services, etc.
Donate Assets-SMARANA is relying on the generous gifts of individuals, civic organizations and corporations. To ensure that our residents have a secure future,
our donors often consider the following asset types when donating to SMARANA:
·
Cash
·
F.D.'s
·
Appreciated
stocks, bonds or mutual funds
·
Real
estate
·
Life
insurance proceeds
·
Estate
settlements
·
Business
Interests
If considering the gift of
stocks, bonds or mutual funds, SMARANA will use the services of professionals in
the accounting, legal and financial services areas who can help with the efficient
and proper transfer of the assets and who can also advise donors on the most tax
efficient means of gifting these assets.
Planned Giving
There are many means by which
one can help SMARANA, both today and in the future. While we can provide you with
a few of the basics, it is always a good idea to consult a professional who can
assist you with these decisions. These professionals may include your attorney,
accountant, insurance agent and financial advisor. Should you find yourself in the
initial stages of this process, we will be happy to guide you in the right direction
by discussing your objectives with you and connecting you with experienced professionals.
For more Information please contact us at info@smarana.org or, by calling us at
732-947-9671 end_of_the_skype_highlighting.
Helping SMARANA
In The Future
Often, people will name a charitable
organization as the beneficiary of all or a part of their estate. This can be done
in a number of ways. First, one may choose to leave a percentage of their estate
or a specific amount to SMARANA. The estate is then entitled to a tax deduction
of the amount donated. Some may find it easiest to simply name SMARANA as the contingent
beneficiary of the assets they have designated for a loved one. Should that loved
one predecease the donor, the assets are left to benefit the residents of SMARANA.
Please remember, if you would
like to consider SMARANA as part of an overall estate plan, it is always advisable
to consult professionals who are have experience in this area.
Beneficiary Designations
A donor wishing to leave assets
to SMARANA, may include SMARANA as the primary or contingent beneficiary of their
life insurance proceeds or qualified retirement plans. Some examples of these plans
include, but are not limited to:
·
401K
·
457
·
403B
·
KEOGH
·
SEP
IRA
·
Simple
IRA
·
Traditional/Rollover
IRA
·
ROTH
IRA
Considering SMARANA
In A Trust
A trust is a legal arrangement
that allows one party to manage assets held within the trust for the benefit of
another. Many people designate their trust as the recipient of their assets upon
their death. Then, assets within the trust are managed and ultimately disbursed
in accordance with pre-determined guidelines. When used in estate planning, SMARANA
can be incorporated into your trust, and can be the recipient of your goodwill for
years to come.If you need assistance with this topic, please contact us at info@smarana.org.
We will be able to connect you with a professional who specializes in this area.
Life Insurance Proceeds
With an individually-owned
life insurance policy, one can designate SMARANA as the primary beneficiary or as
a secondary beneficiary. In either instance, the proceeds of the life insurance
are not includable in the overall value of the estate, and SMARANA can receive lump-sum
proceeds free of taxation.
Using
Your R.M.D.
To
Benefit SMARANA
After one reaches the age of
70 and a half, the I.R.S. requires account owners to take what is called "Required
Minimum Distribution" from certain I.R.A.'s and qualified retirement plans. The
amount is determined by a formula and, unfortunately, is non-negotiable. Some are
in the fortunate position that doesn't require them to use these assets to supplement
their retirement income. Their current streams of income may already include pensions
and Social Security. Consider using these assets to purchase a life insurance policy
which will allow you to leverage pennies on the dollar and pass greater dollar amounts
on to the next generation, SMARANA, or both. If you need assistance with this topic,
please contact us at info@smarana.org.We will be happy to connect you with one of
our professionals who can help you.
Other Charitable Gifts
Some of the techniques that
can be used to ensure that SMARANA is the ultimate recipient of assets include:
·
Charitable
Remainder Trusts,
·
Charitable
Remainder Annuity Trusts,
·
Charitable
Gift Annuity
·
Charitable
Lead Unitrust,
·
Charitable
Lead Annuity Trust
Additionally, some of these vehicles
available for charitable gifting are also able to create a lifetime stream of income
for the donor. These income streams are actuarially determined and are based on
factors such as age and the amount of the donation. As well, utilizing charitable
gifting vehicles can provide significant tax advantages for the donor. In some cases,
you may be able to receive a tax deduction of the full amount of the donation while
avoiding the possibility of income or capital gains taxes. This means that the full
amount of your donation goes to benefit the residents of SMARANA. Should you need
assistance with this topic, or if you are interested in giving, please contact us
at info@smarana.org ,
Giving Through Established
Organizations
There are several organizations
that can help SMARANA by receiving donations from individuals, groups and companies.
Benevolink http://www.benevolink.com is an entity which allows individuals to patronize
companies they would normally shop with anyway. With Benevolink, one can allow SMARANA
to benefit every time you patronize certain companies. (Being worked on right now)
Regardless of how you choose
to donate, we respectfully ask that you consider the residents of SMARANA as the
recipients of your generosity. Your donations will ensure that SMARANA remains a
wonderful place to live.
Your support
is appreciated