Opportunities to Give

The information below summarizes some of the creative ways donors can help support PET’s mission. As a not-for-profit 501(c)(3) organization, the work of PET is dependent upon charitable gifts, all of which are tax deductible to the extent allowed by law.

Cash Contributions: Giving cash (checks) is the simplest way to contribute to PET. Cash gifts are not subject to gift or estate taxes and can be deducted on the donor’s federal income tax return. Credit card donations from American Express, Discover, MasterCard, and VISA are accepted securely through PayPal® and a PayPal account is not needed. All transactions are secure and your information is not stored on the PET site nor retained.

Give Now

Securities: With some limitations, donors can deduct the full fair market value of long term appreciated securities (stocks, bonds, and/or mutual funds) that have been owned a certain amount of time, typically longer than one year, and that have increased in value. Capital gains taxes are usually avoided by donating appreciated securities.

Real Estate: Almost any type of real property (personal residences, farms, vacation homes, commercial buildings, or undeveloped parcels of land) may be donated to PET. Gifts of real estate may be made either outright or as deferred gifts according to will provisions. If the property is not needed as is by PET, it will be appraised and sold for fair market value with the proceeds benefiting the organization.

Will Bequest:  A will bequest is the most popular way of contributing planned gifts to charitable organizations. A will bequest may be expressed in terms of either a specific sum or a percentage of the residuary estate.

Gifts of Life Insurance: A life insurance gift is one of the easiest planned gifts to contribute.

  1. To give a gift of life insurance, simply name PET the beneficiary and owner of a new or no longer needed policy (term policies excluded) of $10,000 or more. If you are still paying on the policy, premium payments are tax deductible when they are given to PET. In turn, PET will pay the premiums to the company issuing the policy.
  2. A paid-up policy no longer needed for its original purpose, per the donor’s wishes, can be cashed in to benefit PET immediately, or held until the donor’s passing for full policy value.
  3. If a donor wishes to retain ownership of his or her policy, he or she can designate PET as a beneficiary. While there is no immediate tax benefit, the future gift will benefit PET as specified in the donor’s estate planning. 

Matching Gifts: If a donor or his or her spouse works for a company with a matching gift program, the company may match a gift to PET. Employee matches, ranging from a 1:1 to a 3:1 ratio, are a wonderful way for a donor to increase the impact of his or her support.

To find out if a company has a matching gift program, contact the human resources office which also provides the required forms to take advantage of this employee benefit.

Tangible Personal Property and Gifts in Kind: Collectibles, artwork, equipment, supplies, books, and other types of tangible property can be valuable gifts to PET if a need for the gift is identified at Central Office or one of the schools within the school system.  As with real estate, if the property is not needed as is by PET, with the donor’s permission, it will be appraised and sold for fair market value with the proceeds benefiting the organization.

Bargain Sale: As its name implies, a bargain sale occurs when a donor, who intends to make a charitable contribution, sells property to charity for less than its fair market value. The property must be appraised prior to the sale.

If the property being sold has appreciated in value, the cost basis must be divided proportionately between the portion of the property that is actually sold and the remainder that is donated. The gain on the portion of the property that is sold must then be reported as income. The donation portion is written off, within the limits of charitable contributions for appreciated property.

Gifts of Personal Residence: Individuals who own a home may, under a retained life estate plan, give the property to PET and receive the benefit of a current income tax charitable deduction, yet continue to use the property for the duration of their lives. A survivor can also enjoy life occupancy, if he or she wishes. The amount of tax savings depends on the donor’s age and the value of the home.

Trusts, Unitrusts, and Annuities: The various types of trusts, unitrusts, and annuities are wonderful ways to make meaningful gifts while enjoying income and tax benefits that enhance the donor’s future financial well-being.

If the trust is a charitable remainder trust, upon the death of the last surviving beneficiary or expiration of the established time period, the trust assets are used by PET as designated when the trust was created.

The amount of tax benefits the donor receives from a charitable remainder trust is determined by the amount of income the donor or his or her designated beneficiaries receive annually, and by the number of years for which the trust is created.

A charitable lead trust is the opposite of the charitable remainder trust in that the charity receives a gift of income rather than principal. The income is payable at least annually for a term of years, or the life or lives of individuals living at the date of transfer, after which time the property reverts to the donor or passes to beneficiaries designated by the donor. As with the remainder trust, the amount of tax benefits is determined by the amount of income paid, and the number of years it is paid.

Before making any planned gifts to PET, we recommend that donors consult with their personal attorney or accountant. PET employees and volunteers are not certified to give advice regarding the various methods of planned giving.