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Other Ways to Give

1. donate appreciated stock

If you are planning to make a donation to Global Lyme Alliance, you might want to look through your stock portfolio before you write a check. Giving appreciated stock instead of cash can greatly benefit both parties. If the stock has increased in value from the time of purchase, the owner can avoid paying capital gains tax by donating the security to charity. When the security is being donated to a charitable organization and has been held more than a year, the total amount will still be eligible for a tax deduction. Since taxation is avoided on the stock donation, the giver will be able to make a larger donation.

Donating Appreciated Stock Held Longer than 12 Months

Advantages of an appreciated stock donation include:

  • Avoiding State and Federal tax on capital gains
  • Receiving an income tax deduction for the full market value of your gift if you itemize deductions and have held the assets more than a year
  • Please consult your financial planner or tax advisor to determine how these potential tax advantages apply to your specific situation

To complete a transfer of stock to GLA follow these steps:

  1. Instruct your broker to transfer the above shares to the Global Lyme Alliance Account as follows: Wire shares to: National Financial Services, LLC
    Account# DTC 0226
    For the Benefit of: Global Lyme Alliance
    For Final Credit to: Account #: Z42876275
  2. Send a confirming email to info@GlobalLymeAlliance.org with the name of the stock, the number of units donated, your name and email address, so that our finance team may track the transfer and confirm receipt.
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2. Planned giving

Planned gifts, also called legacy or estate gifts, are a crucial source of future funding for GLA. Unlike cash donations, they are typically made from assets in your estate rather than disposable income, and come to fruition upon your death. The most common planned gift is a bequest in your will or living trust. Other planned giving options include:

  • A charitable remainder trust
  • A charitable lead trust
  • An endowment fund
  • Retirement plan assets
  • Life insurance policies
  • A remainder interest in your home

Consult with your financial advisor to determine which planned giving vehicle would be most advantageous for you.

A misconception is that planned giving is only for the “wealthy.” The truth is, even people of modest means can make a difference through planned giving.

Designating an Estate Beneficiary

Naming the individuals and charities that will receive your assets once you are gone can be a simple process. Most assets can pass to your intended beneficiaries by the terms of your will. The official legal bequest language for Global Lyme Alliance is:

“I, [name], of [city, state, ZIP], give, devise and bequeath to Global Lyme  Alliance, Inc., [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”

Other assets, such as retirement plans, life insurance and insurance annuities, however, are not controlled by the terms of your will. These assets instead require separate beneficiary forms. The beneficiaries of the following types of asset can be easily modified at any time to meet your changing needs:

  • IRAs and retirement plans
  • Life insurance policies
  • Insurance annuities
  • IRA and Retirement Plan
  • Beneficiaries

Most retirement plans, including 401(k)s and IRAs, are income tax–deferred, meaning that income tax is not paid until the funds are distributed to you in life, or upon your death. This taxation makes retirement assets among the most costly assets to distribute to loved ones. Because they are subject to income taxes to your beneficiaries, retirement assets make ideal gifts to tax-exempt charitable organizations such as Global Lyme  Alliance. Otherwise, the income taxes on retirement assets you leave to your loved ones can be as high as 39.6 percent. This means that an IRA worth $100,000 will be worth only $60,400 by the time it reaches them. On the other hand, the naming of a charity as the beneficiary of retirement assets upon death generates no income taxes. The charity is tax-exempt and eligible to receive the full amount and bypass any income taxes. This means that in the above example, the GLA would receive the full $100,000 benefit.

Life Insurance Plan Beneficiaries

Life insurance is a popular method of providing much-needed funds to a beneficiary at your death. Life insurance proceeds are almost always income tax–free to the beneficiary. The beneficiary designation in your life insurance policy determines where the proceeds will be distributed. The death proceeds, therefore, are not typically transferred through your will. Life insurance can be distributed to a charitable organization such as the Global Lyme Alliance, if we are named as a beneficiary of the policy at the time of your death.

Changing Beneficiaries

Contact your insurance company for its change of beneficiary form for the life insurance policy. If you would like to name the GLA as a beneficiary, simply decide what percentage of the policy’s value (0–100 percent) you would like us to receive and name us, along with the stated percentage, on the beneficiary form. Then return the form to your insurance company.

Insurance Annuity Beneficiaries

Insurance annuities, unlike life insurance, carry an income tax burden. Your named beneficiary is responsible for paying the income tax due on the growth of the annuity while you owned it. The tax burden makes these assets a popular choice to leave to a charitable organization like the GLA because we, as the recipient, can eliminate the tax bill.

Contact your insurance company for its change of beneficiary form for the insurance annuity. If you would like to name the GLA as a beneficiary, simply decide what percentage of the policy’s value (0–100 percent) you would like us to receive and name us, along with the stated percentage, on the beneficiary form. Then return the form to your insurance company.

For More Information

Please consult an estate planning attorney before finalizing changes to your estate plan. We can also help you learn more about customizing a gift that will make a lasting impact at Global Lyme Alliance.

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3. Donations in Honor or Memory of a Loved One

Honoring or memorializing a friend or family member is a thoughtful way to recognize his or her journey with Lyme disease. Many people also choose to recognize special days, such as birthdays or weddings, by making a donation to GLA in honor of a loved one in place of a traditional gift. Doing so is a meaningful way to show your support while helping to fund GLA’s research agenda that is helping to relentlessly advance the science toward a reliable test and a cure for Lyme disease.

To make a donation online, click this link and complete the “in memory of” or “in honor of” boxes on the form and name and contact information of the person who should be notified of your gift. We will follow up and provide notification of your gift to the person you designate.

4. Special Occasion Giving

For weddings, birthdays and anniversaries, In lieu of a traditional gifts or a gift registry, make your event more meaningful by asking your guests to contribute to your GLA Celebration Page and make it into a way to support the research efforts of GLA. Set up your Celebration page online and invite your friends to visit, make a donation and compose a message. Contact us to set up your personalized Celebration Page.

GLA Mailing Address & Contact Information:

Global Lyme Alliance
222 Railroad Ave. #2B
Greenwich, CT  06830
Phone: 203.969.1333

Global Lyme Alliance is a 501(c)(3) charitable organization. Tax ID is 06-1559393.

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