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Spring 1997

Editor: Brad Scott


Avoiding Taxes

Taxes are on the mind of many of us at this time of year. Would you rather give your money to the Internal Revenue Service or to The Vegetarian Resource Group? However many of us have limited funds to donate now. Yet we know that the need for The Vegetarian Resource Group's invaluable outreach will continue for decades. So how can you ensure that VRG will be able to continue our work and expand it in the future without the IRS taking significant chunks from you? The answer is to develop a financial plan that supports VRG, yet also ensures you meet your own needs.

Most of our donors support The Vegetarian Resource Group with tax-deductible gifts of cash or check. These are critical to our immediate needs. Thank You! But we also need to look toward the future and expand our existing programs. We are very grateful to all the people who have included The Vegetarian Resource Group in their will or life insurance policies. If you haven't done this yet, this is probably the single most important action you can take for vegetarianism.

You probably already have a will (and if not, you should), so please consult your lawyer about adding VRG. One suggested form of bequest is "I give and bequeath to The Vegetarian Resource Group, Baltimore, Maryland ___ percent of my residual estate" (or a specific dollar amount, stock, land, or insurance proceeds). We recommend you consult an attorney to ensure the wording is correct for your state and your wishes will be carried out. The advantage of including a percentage of your estate is that as your assets grow over time, you will be able to contribute a larger amount to VRG without having to change your will. And remember, contributions to The Vegetarian Resource Group are not subject to federal estate taxes, so you can avoid the IRS one more time.

In addition to wills, there are other ways you can support VRG's work during your lifetime, including Charitable Remainder Trusts and Charitable Gift Annuities.

Charitable Remainder Trusts: These legal arrangements allow you to set up a trust, a separate tax entity in the eyes of the IRS. The money is invested however you choose, in stocks, bonds, a money market fund, or a bank certificate of deposit. The investment income is then returned to you in part or in whole and varies based on the performance of the investment. Upon your passing (or the passing of last family member named in the trust), VRG receives the principal. Charitable Remainder Trusts are advantageous because you get current income while avoiding capital gains taxes on appreciated assets. You also get a tax deduction when you fund the trust and avoid all federal estate taxes on assets in the trust.

Charitable Gift Annuities: These annuities give you a fixed rate of return on your money, based on your age. The percent return is based on a recommended rate as determined by an independent organization. Upon your passing, VRG receives the principal. Depending on your age, older individuals may get more than you could get in the financial markets. You can also donate appreciated property, again avoiding capital gains taxes on appreciated assets. As with charitable remainder trusts, you get a tax deduction when you fund the annuity and avoid all federal estate taxes on assets in the annuity.

For more information on wills, charitable remainder trusts, or charitable gift annuities, please contact Brad Scott at The Vegetarian Resource Group, PO Box 1463, Baltimore, MD 21203, or call (410) 366-8343. All inquiries will be kept in the strictest of confidence.




VRG Home | About VRG | Vegetarian Journal | Books | Vegetarian Nutrition
Subscribe to Journal | Vegetarian Game | Vegetarian Family | Nutshell | VRG-News
Vegetarian Recipes | Travel | What's New | Bulletin Board | Search www.vrg.org | Links


The Vegetarian Resource Group Logo 1996-2013 The Vegetarian Resource Group
PO Box 1463, Baltimore, MD 21203
(410) 366-8343   Email: vrg@vrg.org

Last Updated
September 20, 1997

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