|

Planned Giving

Gifts of Appreciated Assets

Ed Pitaro
Associate Director, Gift Planning

You can support Consumer Reports' mission by donating appreciated assets like real estate, stocks, art works and other collectibles.

Your gift can be an outright contribution or, under certain circumstances, it may be able to fund a charitable remainder trust that will provide income for your lifetime.

How Can I Find out More?

Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

Gifts of Life Insurance

Ed Pitaro
Associate Director, Gift Planning

You can support the mission of Consumer Reports by naming CR as a beneficiary of a life insurance policy.

How can I Designate Consumer Reports?
If the policy already exists, you should request a "change of beneficiary" form from your life insurance provider. You can name Consumer Reports as sole or partial beneficiary, or a contingent beneficiary in case you are predeceased by your immediate beneficiary.

On your beneficiary form, you should list Consumer Reports as: 

Consumers Union of United States, Inc.          Tax ID# 13-1776434
101 Truman Avenue
Yonkers, NY 10703


How Can I Find out More?

Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of his or her gift. 

Charitable Remainder Trusts

Ed Pitaro
Associate Director, Gift Planning

Your contribution of appreciated assets to a charitable remainder trust can provide lifetime income, a significant income tax charitable deduction and avoidance of capital gain taxes while helping to support the mission of CR.  

What are the benefits for me?

  • A favorable rate is paid to the income beneficiaries, subject to IRS rules. 
  • You receive an immediate income tax charitable deduction based on a significant portion of the value of the property contributed.
  • No capital-gain taxes are paid on the sale of the assets in the trust, which is tax-exempt, so funding a CRT with low-income producing, highly appreciated assets is ideal.
  • Consumer Reports can serve as the Trustee.
  • The remainder of the trust fund eventually pass to CR enabling us to ensure a safe and fair marketplace for all consumers.
  • The trust is flexible, within IRS guidelines, and can be adapted to your situation. (There are minimum amounts and other requirements to consider.)

There are two types of CRT’s:

Charitable Remainder Annuity Trust (CRAT) The value of the trust is fixed at the time it is established.  It pays you a set dollar amount each year, typically based on a fixed percentage of the trust's initial value.

Charitable Remainder Unitrust (CRUT) The trust rate is fixed at inception but that percentage is applied to an annual re-valuation to determine the payment for that particular year.  The rate is fixed but the dollar amount distributed each year will vary.  This type of trust can be used for contributions of real estate.

Please click here for some examples of how a charitable remainder trust can work for you.

How Can I Find out More?

Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

Gifts of Retirement Plan Assets

Ed Pitaro
Associate Director, Gift Planning

You can support the mission of Consumer Reports by naming CR as a beneficiary of your IRA, your 401(K) or other type of retirement plan.

Why Retirement Assets?
Since retirement plan assets may be subject to both income and estate taxes when left to your heirs, estate planners frequently recommend that you designate all or a portion of these assets to a charitable organization like CR. Doing this enables you to pass other lower taxed assets to your heirs and lessen the tax burden.

How can I Designate CR?
You should request a "change of beneficiary" form from your retirement plan administrator. On this form, you can name Consumer Reports as sole or partial beneficiary, or name us as a contingent beneficiary in case you are predeceased by your immediate beneficiary.

On your beneficiary form, you should list Consumer Reports as:

Consumers Union of United States, Inc.      Tax ID #13-1776434

101 Truman Avenue
Yonkers, NY 10703

How Can I Find out More?
Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of his or her gift. 

Contributing Collectibles

Ed Pitaro
Associate Director, Gift Planning

A gift of artwork, coins, antiques, or other personal property can be an excellent way to achieve you financial and philanthropic goals..

You can contribute this appreciated asset to Consumer Reports and save on income and capital gains taxes while helping to support the work of CR.  Your benefits will be determined by the IRS Regulations that pertain to your particular situation.

In addition to making an outright gift, you may be eligible to receive lifetime income through a charitable remainder trust.  

How Can I Find out More?
Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

Stock Gifts

Ed Pitaro
Associate Director, Gift Planning

You can contribute publicly-traded securities (such as stock or mutual fund shares) to Consumer Reports and save on both income and capital gains taxes.

If you own stock that you bought at least one year ago that has increased in value since then, you may want to consider contributing those shares to Consumer Reports.  Your charitable deduction will be valued at current fair market value and no capital gains tax will be paid when the shares are sold by CR.

How It Works:

You transfer shares of one or more publicly-traded securities, such as stock, directly to Consumers Union.  You can

  • Make an outright gift of your securities   OR
  • Establish a charitable gift annuity or charitable remainder trust and receive income for life

How Can I Find out More?
Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703

 

Charitable Contributions of Real Estate

Ed Pitaro
Associate Director, Gift Planning

There are different options for donating your home, second home, commercial building, raw land, or other real property to Consumer Reports. There could be a gift plan available that will help you achieve your charitable and financial goals with this type of gift.

Appreciated real estate that is not encumbered by a mortgage and you have decided not to occupy may be an appropriate charitable contribution.   You will avoid capital gains tax and your charitable deduction will be valued at current fair market value.

You may choose to make an outright gift or use this asset to fund a charitable remainder trust that will provide income for your lifetime.  Your benefits will depend on the technique you use to make your gift of real estate.

Note: We do not accept donations of time shares.

How Can I Find out More?

Contact Ed Pitaro at (914) 378-2647 or epitaro@consumer.org. Or write to Ed at:

Ed Pitaro
Associate Director, Gift Planning
Consumer Reports
101 Truman Avenue
Yonkers, NY 10703