The following information defines other avenues for giving to the Foundation:

• Appreciated Securities
A gift of appreciated securities that have been held for one year or more may be donated to the Foundation. You may take a charitable deduction for the full fair market value, while avoiding capital gains taxes. The IRS currently allows you to deduct the full fair market value of the property up to 30 percent of your adjusted gross income. Any amount over the ceiling can be carried forward for future deduction, up to five years.


• Life Insurance
The Foundation will accept life insurance policies as gifts only when the Foundation is owner and beneficiary of 100% of the policy, the policy is paid-up, or if the policy is partially paid-up that there is a cash surrender value to the policy.


• Other Appreciated Asset
Closely held stock, tangible personal property if its use is related to the Foundation's purpose, or real estate can be given. The Foundation gift acceptance committee must approve all donations in this category.


• Planned Gifts
Dentists can choose to support the Foundation through planned
giving.


• Designated Funds
Create an endowment in honor or memory of an individual. A designated fund can be donor-advised or board-advised. For information on fund minimums and other provisions, call the ODAF.


Designated/Named funds within the ODA Foundation

Akron Dental Society (Dr. James) Claypool Fund
Dr. John Harris Fund
Faith Barlow Fund
(Dr. James) Mercer Fund
(Dr. Donald) Bowers Fund
Ohio Society of OMS Fund
Cincinnati Dental Society Fund
Nancy Burgess Siegfried Fund

• Charitable Remainder Trusts
A gift of an appreciated asset or cash is given to the Foundation to fund a trust. Funding the trust with appreciated, long-term property enables the donor to protect profit while avoiding capital gains taxes. There are two types of charitable remainder trusts:


Annuity Trust: An annuity trust pays a fixed income (at least five percent) to you or your beneficiaries for at least one year. The payout is determined when you set up the trust. This type of trust allows you to avoid capital gains on the appreciated asset, avoid estate taxes because it has been removed from your estate, and take a tax deduction for the value of the charitable remainder interest at the time you set it up. The trust reverts to the Foundation at the donor's death.


Unitrust: A unitrust differs from an annuity trust by paying a fixed percentage, at least five percent. This means that your income fluctuates from year to year and is not set like an annuity trust. Tax advantages depend on value of assets transferred, your payout percentage, number and age of beneficiaries. You do avoid estate taxes and capital gains taxes.


• Charitable Lead Trust
A charitable lead trust is basically a charitable remainder trust in reverse. Appreciated assets fund the trust and the Foundation receives an income from the trust while it exists. When the trust terminates, its assets return to the donor or the designated beneficiary. A charitable lead trust can be a means to transfer substantial wealth from generation to generation, free (or largely free) of estate, inheritance and gift taxes.


• Charitable Gift Annuities
An annuity is set up with an irrevocable gift and the annuity agrees to pay one or two annuitants a fixed amount each year for life. The amount is based on life expectancy. The balance of the annuity is then paid to the Foundation at the annuitant's death. Tax benefits can differ because of size of gift, age and payout rate.


• Wealth Replacement with Life Insurance
When a donor makes a gift to the Foundation, a life insurance trust may be used to replace the value of the donated assets. In this way, you can protect the interest of your heirs while fulfilling your philanthropic goals. A trust is created to buy a life insurance policy, with heirs as beneficiaries. After the donor's death, the proceeds from the policy pass to the trust, free of estate taxes, thereby replacing the value of the original charitable gift.


• Wills and Estate Plans
A carefully prepared will or estate plan is the best way to ensure that your loved ones are provided for after your death, and that your preferred charities are supported as you intend.




The most common and simple form of planned giving, a bequest is a gift that is made through a donor's will. Individuals may include the Foundation in their wills by naming the ODA Foundation for either a specific amount or a percentage share of their estate. Donors can also name the Foundation as the residual beneficiary of their estates after payment of bequests to others.




Benefits of making a bequest gift include the fact that donors do not have to part with any money until they die, and do not owe any estate tax on the amount of the bequest.


• Retirement Plan Assets
A donor may wish to leave a tax-burdened property to the Foundation, such as Individual Retirement Accounts and other retirement plan death benefits. The combined effect of income and estate taxes that can result from leaving such assets to family members can exceed 75% of the asset's value.


A donor can name a family member as the beneficiary of retirement plan assets and the Foundation as a contingent should the family member predecease the donor. A donor can also give the family member an option to disclaim any benefits in favor of the Foundation.

No matter what form of giving you choose, consulting with a financial, tax or legal advisor is recommended.

If you have any questions regarding making a donation to the ODA Foundation, please e-mail Kathy L. Woodard or call (614) 486-2700.