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Below are answers to some of the most common questions asked about BAPS Charities and our services to help needy people.
If you have a question that is not answered here, please contact us and we will be happy to help you. About Us
Frequently asked questions about BAPS Charities: our vision, our mission, our activities, and much more. About Your Contribution
Information you need to make the decision to help needy people. Learn how your gift will be used, the impact it will make, and what you will receive through your donation. About Planned Giving
Useful information and tutorials to help you understand the personal financial rewards of gifting stocks, bonds, securities, life insurance policy, or bequeathing a gift in your will. Questions
About Us:
About Your Contribution:
About Planned Giving:
Answers to About Us
Q. Who is BAPS Charities?
A. BAPS Charities is a 501(c)(3)-registered nonprofit international public charity committed to serving the world by caring for individuals, families and communities.
Q. What is BAPS Charities' mission?
A. BAPS Charities' mission is to serve disadvantaged individuals, families and communities throughout the world, with a focus on India.
Drawing on our diverse resources, broad reach and vast experience, we endeavor to provide both emergency care and long-term solutions in the areas of health, education, the environment, community development, tribal uplift, and disaster relief.
For more info click here .
Q. Who is BAPS Swaminarayan Sanstha?
A. The BAPS Swaminarayan Sanstha is the parent organization of BAPS Charities. Founded in 1907 and functioning as a charity since 1950, the BAPS Swaminarayan Sanstha 's charitable activities were motivated by the organization's strong commitment to serving society. Today, it holds a seat on the Economic and Social Council of the United Nations, has a dedicated corps of more than 55,000 volunteers networked in over 9,000 centers around the world and engages in no less than 160 humanitarian services.
Q. Who manages BAPS Charities?
A. The activities of BAPS Charities are run independent of its parent organization, BAPS Swaminarayan Sanstha, and are managed by a diverse Board of Directors, who meet regularly and serve without reward, and whose personal opinions and interests are in line with the vision, mission, commitments and convictions of the organization.
Q. How is BAPS Charities helping to make a better world?
A. BAPS Charities provides over 160 humanitarian services in a variety of fields: Health , Education , the Environment , Community , Tribal , and Disaster Relief . Each of our services brings about lasting, meaningful change in the lives of thousands. Please see how by clicking the links above.
Q. What experience does BAPS Charities have in providing humanitarian services?
A. BAPS Charities and its parent organization have amassed over 50 years of firsthand experience in initiating, managing and sustaining over 160 humanitarian activities throughout the world.
Q. How can I be sure that BAPS Charities is a legitimate and credible organization?
A. BAPS Charities is a 501(c)(3)-registered nonprofit international public charity. Many highly reputed international organizations and individuals have recognized our work. For more info, please click here.
Answers to About Your Contribution Q. How can I help?
A. You can help make a real, lasting difference by supporting one of our services. Please click here to select where you would like to contribute your valuable time and money.
Q. Can my company/organization make a donation?
A. Yes. BAPS Charities accepts donations from companies/organizations, as well as individuals. In addition, some companies match their employees' donations. Please contact your Human Resources or Payroll Department to find out if they have a Matching Gift Program. If they do, this means you can double your gift to needy people because your employer will match your contribution by donating an equal amount.
Q. Where will my donation go?
A. Your donation will go directly to those who need it most. Please click here to see how we assure your valuable contribution is used effectively and appropriately.
Q. Will my donation be tax-deductible?
A. Yes. All contributions to BAPS Charities are fully tax-deductible in accordance with the law and all applicable rules and regulations because BAPS Charities is a tax-exempt public charity under Sections 501(c)(3) and 509 of the Internal Revenue Code.
Q. Are there alternate methods of donating instead of on-line transactions?
A. Yes. You can also donate by mail or fax. For details, please click here.
Q. Are there alternate methods of contributing instead of cash donations?
A. Yes, you may also support BAPS Charities by taking part in of our Planned Gifts Programs. For details, please click here.
Answers to About Planned Giving Q. What does it mean to 組ift life insurance'?
A. Making a gift of life insurance is simply transferring of your life insurance policy to BAPS Charities and making it the owner and beneficiary.
Q. What are the benefits of doing so?
A. Many people wish to donate a large amount for the cause they believe in, but do not have the means to do so. By gifting life insurance policy you can make a substantial donation while spending a much smaller amount towards the premiums.
Q. Does it mean that I spend only a small amount but BAPS Charities gets a large sum?
A. Yes. You multiply your charity. See an example below:
Assume a 50 year-old male with poor rating buys a guaranteed 20-years term insurance of $100,000. His annual premium will be $478. Assume 28% income tax. He spends only $6,883 but donates $100,000.
Total Premiums Paid = $9,560 (20*478)
Tax savings at 28% = $2,677 (when paid as donation)
Net Cost = $6,883
Contribution to BAPS Charities at maturity = $100,000
Q. What if I have a large estate?
A. If you have a large estate you can reduce significantly your estate taxes by removing life insurance proceeds from your estate.
Q. Are there any income tax benefits?
A. Yes. For fully paid policies, you can get immediate charitable deduction for the full cash value. And for a new policy, when you pay the premiums through BAPS Charities, you will be able to deduct the premiums as charitable donations.
Q. What do I need to do?
A. Obtain a form from BAPS Charities and return it after filling it in. An expert will contact you and guide you and your family to make the most rewarding choice for you.
Q. What name and address should I use to designate BAPS Charities as owner and beneficiary?
A. Please use the following address:
BAPS Charities
81 Suttons Lane, Suite 103
Piscataway, NJ 08854 USA
Q. What is a 組ift in your will'?
A. A gift in your will is a carefully worded statement of gifting property or cash to BAPS Charities in your will.
Q. What are the benefits of doing so?
A. You continue to enjoy your assets during your lifetime and leave behind a lasting legacy after life. And at the same time, you reduce your estate taxes.
Q. Do I really need a will?
A. Yes. Many people have a misconception/feel that a will is only for 層ealthy' people. This is not necessarily true. A will is the only way you can ensure that, after you have gone, your assets are distributed exactly the way you want.
Q. What decisions will I make in my will?
A. You will state who will inherit how much. You will specify how your estate will be administered.
Q. What can happen if I do not have a will?
A. Some of the things that can happen are:
- Your assets will be distributed without considering your personal wishes
- You will have no say in who will be the guardian of your minor children
- The court may appoint an administrator whom you may have never chosen
- Your estate may diminish significantly through taxes and attorney/accountant fees
Q. What do I need to do?
A. You will have to meet with an attorney. However, you can save some time and legal costs by doing the following in advance:
- Name a guardian for your minor children
- Take inventory of your assets, note its value and who owns it
- List who will get what amount of which asset
- Name a person who would manage and administer your estate. Include a successor.
- List any important documents e.g. birth certificate, insurance policies, bank accounts, etc.
Q. What if I already have a will?
A. You are well ahead compared to many. Be sure to update it periodically.
Q. What is does it mean to 組ift stocks & bonds'?
A. It is donation of securities like stocks or bonds to a charitable institution.
Q. Why make a gift of stocks or bonds instead of cash?
A. A gift of stocks or bonds allows you to get income tax deduction on the appreciated value of the securities and it also saves you from paying any capital gains tax.
See example:
|
Donate Securities |
Sell Securities And
Then Donate Cash |
Value |
$1000 |
$1000 |
Charitable Deduction |
$1000 |
$1000 |
Income Tax Saved* |
+$280 |
+$280 |
Capital Gains Tax Paid* |
-$0 |
-$160 |
Net Tax Savings |
+$280 |
+$120 |
Assume: No state or local taxes, no alternative minimum tax, within allowed deduction limits, 28% income tax, securities held for at least a year, $800 capital gain on the securities.
Q. Can I donate stocks of any company? Listed or unlisted?
A. Yes. You can donate stocks of any company regardless of whether it is listed or not.
Q. Can I donate stocks which I have held/owned for any length of time?
A. Yes. However, it is better to donate stocks that have been held for at least one year to get a favorable treatment for tax purposes.
Q. Can I time my transfer to get the most in deduction?
A. Absolutely. You can choose any date to transfer. Just inform BAPS Charities well in advance.
Q. Do I incur any transaction costs for donating securities?
A. No.
Q. Is it legal to save on capital gains tax?
A. Yes.
Q. Are there any limits?
A. Yes. You can only deduct up to 30% of your AGI (Adjusted Gross Income) when you donate property other than cash. The balance can be carried forward for the next five years.
Q. What do I need to do?
A. Obtain a form from BAPS Charities and return it after filling it in. If you have any questions, call BAPS Charities.
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