The mission of Spanish Town Heritage Foundation is to champion the Hispanic legacy of the Inland Empire’s first settlers by sharing their stories, creating cultural learning opportunities, and leading community efforts to restore and revitalize La Placita de los Trujillos, a place of history, learning, entertainment and the arts.
The goals of Spanish Town Heritage Foundation are:
- Preserve and protect the Trujillo Adobe.
- Recreate La Placita de los Trujillos including the Cantina, Trujillo School and a working farm as a living history museum.
- Build an interpretive center for the Trujillo Adobe and La Placita de los Trujillos.
- Create an “old town” environment complete with arts, entertainment and dining.
- Bring needed services to the Northside neighborhood, aka La Placita.
Honorary or Memorial Gifts
A wonderful way of honoring a special person, loved one or organization is with a gift that allows you to publicly recognize them by having their name published in our e-newsletter. An acknowledgement of your gift can be sent both to you and the honoree or family of a deceased loved one.
You are entitled to an income tax deduction for the gift in the year in which it is made. Please consult your financial advisor as to how the rules apply to you.
Create a Named Endowment
You can create an endowment by making a donation of cash or property.
Gifts of Securities and Other Appreciated Assets
With a gift to Spanish Town Heritage Foundation of stock, securities, or other appreciated assets, you may be able to gain additional tax advantages. You can avoid the potential capital gains tax liability that would result from the sale and be entitled to an income tax deduction for your gift.
With securities or other assets that have declined in value, it may be advantageous to sell them and donate the proceeds to Spanish Town Heritage Foundation. The loss could be used to offset other capital gains and some ordinary income, thereby avoiding tax.
If you wish to transfer stock to Spanish Town Heritage Foundation, we can provide you with a Stock Donation Form in advance of the transfer. Simply give your broker the form and tell him/her that you would like to make a stock gift to Spanish Town Heritage Foundation.
Your gift will be acknowledged for income tax purposes. Of course, you should consult with your financial advisor as to how the above applies to your personal tax situation.
A meaningful gift to Spanish Town Heritage Foundation can be made with a planned or deferred gift that Spanish Town Heritage Foundation would receive after your death. This type of gift is made through your will or trust instrument and includes gifts of life insurance proceeds, charitable gift annuities or charitable trusts.
The benefits of planned giving can include estate tax savings, income tax deductions and capital gains tax consideration. Gifts of this type can protect your assets, while providing benefits to your heirs and possibly increasing your annual income. Your attorney or financial advisor can advise you which type of gift is the most beneficial for your personal situation.
Another way to make a gift to Spanish Town Heritage Foundation is by including a bequest in your will or trust instrument. The following is an example of the language you could add to your will or trust:
I hereby give, devise and bequeath to Spanish Town Heritage Foundation, a 501(c)(3) nonprofit corporation organized and operating under the laws of the State of California, located at 3643 University Avenue, 2nd Floor, Suite 1, Riverside, CA 92501, the sum of $______ (or ______ percent of the rest, residue and remainder of my estate) to be used for the general purposes of the organization.
A bequest can help reduce the size of your taxable estate and also qualify for an estate tax charitable deduction as well as assisting Spanish Town Heritage Foundation.
There are several benefits to donating a life insurance policy:
- Donate a paid-up policy. You may find you no longer need your life insurance policy because your financial circumstances have changed or you no longer have dependents. By naming Spanish Town Heritage Foundation as the beneficiary and/or transferring ownership of the policy to Spanish Town Heritage Foundation you can claim a charitable income tax deduction that is almost equal to the policy’s cash value.
- Donate a policy on which you are still paying premiums. Your charitable deduction is about equal to the cash value and future premium payments on the policy.
- Assign the dividends to Spanish Town Heritage Foundation. By assigning the policy dividends, the value of the dividends becomes an annual donation, which is also tax deductible.
Charitable Remainder Trust
Creating a Charitable Remainder Trust (“CRT”) can give you or a beneficiary an income either for life or a set number of years. The remainder or principal of the trust would go to Spanish Town Heritage Foundation at the end of the trust term.
Selling assets that have appreciated significantly can create serious capital gains tax obligations, but a CRT may be able to eliminate them entirely. You can also claim an income tax deduction for the present value of the gift, thereby reducing your current income tax obligations. In addition, a CRT can provide an income for you or another beneficiary for life and can eliminate or reduce some probate expenses for the administration of your estate after your death.
The Pension Protection Act of 2006 allows for tax-free distributions to non-profit charitable organizations from Individual Retirement Accounts (“IRA”). An IRA participant, aged 70, can donate $100,000 for each calendar year from an IRA account tax-free to qualifying charitable organizations. Spanish Town Heritage Foundation is a qualifying non-profit organization and would welcome your IRA distribution.
Of course, you should consult with your financial advisor to review your IRA rollover options and what is most prudent for your personal situation.