Giving to the International Communication Association
Bequest Language
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Fixed Amount
"I bequeath to the International Communication Association, Inc., a nonprofit corporation organized under Texas law now maintaining its headquarters in the District of Columbia at 1500 21st Street NW, Washington, DC 20036, the sum of $______ (or describe the specific property you intend to bequeath - stocks, savings bonds, etc.)."
Percentage
"I bequeath to the International Communication Association, Inc., a nonprofit corporation organized under Texas law now maintaining its headquarters in the District of Columbia at 1500 21st Street NW, Washington, DC 20036, _______% of the rest and residue of my estate."
Residuary
"After all specific bequests, devises, and expenses have been taken care of, I hereby give the residuary of my estate to the International Communication Association, Inc., a nonprofit corporation organized under Texas law now maintaining its headquarters in the District of Columbia at 1500 21st Street NW, Washington, DC 20036."
NOTE: Gifts can also be contingent - passing to the International Communication Association only if another beneficiary passes away before you.Other Important Information
You may need the following information for your estate plans:ICA Tax ID: 31-0794522
Gifts of Life Insurance
A life insurance policy becomes a contribution to psychology when the donor turns the policy over to the Association as its owner and beneficiary. A United States donor can receive a number of tax benefits by making this designation. Premium payments made on the policy can be considered charitable gifts. The cash value of the policy can be considered an immediate tax deduction for the donor, and the policy's value can be removed from a donor's taxable estate.Charitable Remainder Trusts
Two types of charitable remainder trusts provide for an eventual gift to ICA at the same time that they generate lifetime income for the donor (or sequentially for the donor and then another beneficiary).
An Annuity Trust pays the donor a fixed sum annually. A Unitrust pays the donor a fixed percentage of the fair market value of the trust's assets, which are valued annually.
Both plans allow the donor to receive current charitable deductions based on the actuarial value of the trust at the time it is terminated.
Charitable Lead Trusts
With some kind of charitable lead trusts, the donor does not have to relinquish a claim to the money or property used to establish the trust. Rather, the donor transfers assets into a trust which pays income to ICA for a specified number of years, after which the principal reverts to the donor or to the donor's heirs, with reduced estate and gift taxes.
