Leaving a Legacy

Your Legacy

Making a gift that will have a lasting impact is a  wonderful way to support the shelter animals.


Make plans now that will continue to support the Chemung County SPCA for years to come.


There are a number of options to meet your needs. Read more below.


Gifts that cost you nothing now

Gifts in a will or by beneficiary designation are two easy ways to leave your legacy

  • General gifts*
  • A general bequest is a gift of a specific amount.
  • Residuary gifts*
  • A residuary gift is a gift of all or a percentage of the remainder of your estate after specific bequests and expenses have been paid.
  • Specific gifts*
  • A specific gift is a gift of a particular piece of property. For example, real estate, funds in a bank account or shares of a corporation.
  • Contingent gifts*
  • A contingent gift takes effect only if you survive the primary beneficiary or beneficiaries named (e.g. a spouse).


*Discuss these options with your lawyer or financial advisor while preparing your estate planning


  • Gifts by beneficiary designation
  • This option does not require a lawyer, and you can change your beneficiaries at any time. Name Chemung SPCA as a beneficiary of your retirement account, life insurance plan, bank account, or other assets.
  • Benefits include
  • reduce or eliminate taxes
  • reduce or avoid probate fees

Gifts that pay you income

Charitable Gift Annuities and Charitable Remainder Trusts are two ways provide an income for you while also providing for the animals at the SPCA.


  • Charitable Gift Annuities**
  • by donating cash or appreciated securities, you can receive  a secure, fixed payment stream for yourself and/or a loved one for your lifetime(s). You will also receive tax benefits and the satisfaction of creating a lasting legacy
  • Benefits include
  • lifetime payments that will never change
  • capital tax savings when use appreciated stock
  • eligible for an immediate tax deduction
  • your gift passes to the Chemung SPCA outside of the estate process


  • Charitable Remainder Trusts**
  • by transferring cash or appreciated asset (e.g. real estate, stock, oil, gas, or mineral interests) into a tax-free irrevocable trust, you and/or other beneficiaries receive an annual distribution. This payment is either a percentage of the annual value of the trust, or a percentage of the original gift amount.
  • Benefits include
  • lifetime income for you or your heirs
  • a charitable income tax credit for the charitable portion of the trust


**Discuss these options with your financial advisor while doing your financial planning

Gifts that reduce your taxes

Enjoy tax benefits from these gifts now, or establish a future gift that will pass tax benefits along to your loved ones.

  • Charitable Distribution from an IRA
  • use your Required Minimum Distribution (RMD) to make a qualified charitable distribution (QCD) from your IRA directly to Chemung SPCA, so it does not create taxable income for you.
  • Retirement Plan
  • Naming Chemung SPCA as a beneficiary of your retirement assets generates no income taxes as the SPCA is tax exempt and eligible to receive the full amount, bypassing any income taxes. This means that 100% of your retirement plan given this way would go to the SPCA
  • Life Insurance Plan
  • an affordable way to secure immediate tax savings during your lifetime while continuing your support for Chemung SPCA that reduces final taxes on your estate and provides a gift that passes outside of your estate.
  • Gifts of Real Estate
  • transferring ownership of real estate to Chemung SPCA allows you to reduce your taxes by deducting the appraised value of the property from your income tax liability and by avoiding capital gains tax liability. This kind of gift also removes the property from your estate.
  • Gifts of Stock
  • By giving stocks, bonds, and mutual funds that have appreciated in value, you may receive a charitable income tax deduction for the full market value of the stock (up to a maximum of 30% of your adjusted gross income) and avoid paying the capital gains tax on any increase in the value of the stock. 


**Discuss these options with your retirement plan advisor or financial advisor for more details.

Gifts that make an impact now

Consider these types of gifts that also provide you with financial and personal benefits

  • Charitable distribution from your IRA***
  • the direct transfer of funds from an IRA to Chemung SPCA so it does not create taxable income for you and is not considered a charitable tax deduction.
  • Donor-Advised Funds***
  • a transfer of funds from your donor-advised fund to the SPCA
  • Gifts of Real Estate***
  • transfer ownership of real estate to Chemung SPCA  and by doing so, you remove the property from your estate and relieve yourself of any future management worries. In addition, you can deduct the appraised value of the property from your income tax liability and avoid capital gains tax liability.
  • Gifts of Stock***
  • by giving stocks, bonds, and mutual funds that have appreciated in value, you may receive a charitable income tax deduction for the full market value of the stock (up to a maximum of 30% of your adjusted gross income) and avoid paying the capital gains tax on any increase in the value of the stock.
  • Gifts of Cash
  • a simple gift that is immediately eligible for a charitable tax credit.


***Discuss these options with your retirement plan advisor or financial advisor for more details.

Interested in leaving your legacy?

Contact your financial advisor, retirement plan advisor, or lawyer to help you make the best decision for type of gift that will benefit you and the animals at the Chemung SPCA for years to come.

Share by: