Gifts That Reduce Your Taxes

You can power research, education and advocacy to improve lung health and accomplish your goal of fighting lung disease. What’s more, you can leave these generous gifts now and you may receive tax benefits for your gifts, so you can reduce stress and enjoy yourself.

Retirement Plan Gifts

Retirement plan gifts are a popular gift option for many Lung Association supporters. Because retirement plans are taxed differently than most assets, they may become a tax liability.

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Naming the American Lung Association as a beneficiary of your retirement account can be an attractive option for leaving a legacy and reducing income and possibly estate taxes for your loved ones.

Income taxes to your beneficiaries on retirement assets can be as high as 37 percent. This means, for example, that a $100,000 IRA will be worth only $63,000 when it gets to your loved ones.

Naming the American Lung Association as a beneficiary of your retirement assets generates no income taxes. The Lung Association is tax exempt and eligible to receive the full amount, bypassing any income taxes. This means, for example, that a $100,000 IRA given to the Lung Association will be worth the full $100,000.

To name the American Lung Association as a beneficiary of a retirement plan, simply contact your plan’s administrator. Our Federal Tax ID number is 13-1632524.

Please note: If you are making a gift using an IRA checkbook, the date of your gift will be the date we cash your check. Therefore, to ensure that you receive the tax credit for a particular year, please make your gift prior to December 15th. To learn more about making a gift through your IRA, click below:
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Life Insurance Policy Gift

Do you have a life insurance policy that has outlasted its original purpose? You can use it (or a percentage of it) to reduce your taxes and create a gift for the American Lung Association that demonstrates your commitment to healthy air and healthy lungs.

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Potential benefits:

  • You could reduce your income taxes;
  • You might receive additional tax deductions if you make annual gifts, so the American Lung Association would be able to continue to pay the premiums;
  • You can see firsthand how your gift supports our work if the American Lung Association cashes in the policy;
  • You can create your legacy. If the American Lung Association retains the policy to maturity, or you name it as a beneficiary, once the policy matures, the proceeds of your policy will be paid to the American Lung Association.

Gifts of Real Estate

You could consider donating real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property.

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Potential benefits:

  • You could reduce your taxes;
  • You might live in your home or use your properties for the rest of your life while receiving monthly payments from the American Lung Association.

Gifts of Securities

You can use stocks, bonds, and mutual funds that have grown in value to create your legacy with the American Lung Association.

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Potential benefits:

  • You may receive a charitable income tax deduction for the full market value of what you give (up to a maximum percentage of your adjusted gross income as dictated by tax law);
  • You could avoid paying the capital gains tax on any increase in the value of the stock you give.

Get more information about making a gift using appreciated securities.

Savings Bonds

When you redeem savings bonds, you or the person you leave your bonds to will owe income tax on the gains. By giving the bonds to the Lung Association, we will receive the full value of your savings while you could reap potential benefits.

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Potential benefits:

  • You might eliminate the income tax on bonds you own that have stopped earning interest and that you plan to redeem;
  • You may receive a charitable income tax deduction for the full market value of what you give (up to a maximum percentage of your adjusted gross income as dictated by tax law);
  • You could avoid paying the capital gains tax on any increase in the value of the bonds you give.

Family First

Of course, you love your family. At the American Lung Association, we understand that your family comes first. But, we hope you’ll remember, there are ways you can support your family and also find meaning in your life using giving methods that could cost you nothing now and might even reduce your taxes.

Complimentary Planning Resources at Your Fingertips