The World Bank in India | ||||||||||||||||||||||||||||||
The World Bank is one of the world’s largest
sources of funding and knowledge for developing countries. India is one of our
oldest members, having joined the institution at its inception in 1944.
In India, the World
Bank works in close partnership with the Central and State Governments. It also works with other
development partners: bilateral and multilateral donor organizations,
nongovernmental organizations (NGOs), the private sector, and the general
public—including academics, scientists, economists, journalists, teachers, and
local people involved in development projects.
THE WORLD BANK’S PLAN OF ACTION IN INDIA
The
World Bank's work plan in Indiais spelt out in its Country Strategy (CAS). The
Country Strategy for India is closely aligned with India's own development
priorities and describes what kind of support and how much can
be provided to the country over a period of around four years.
The
Country Strategy for India for 2009-2012 is
aligned with the government's Eleventh Five Year Plan. It focuses on helping the
country to fast-track the development of much-needed infrastructure, support the
seven poorest states, and respond to the financial crisis.
.
The strategy
was arrived at after a
series of consultations with a broad range of stakeholders, including
members of the government and civil society.
.
The
strategy envisages total proposed lending of US$14 billion for 2009 -
2012. As
private financing dries up in the wake of the global financial crisis, the Bank
has agreed to provide an additional US$ 3 billion as part of the total financing
envelope of US$ 14 billion.
The
strategy is implemented through lending, dialogue, analytical work, engagement
with the private sector, and capacity building exercises.
The Bank’s previous
four-year Country Strategy for 2005-2008 focused on lending for
infrastructure, human development, and improving rural livelihoods.
PROJECTS
The Bank’s method of
operation is not to implement “World Bank projects,” but to provide financing
and advice for projects which are owned and supported by the Indian government
and the people and form part of their overall development
agenda.
Various financing
options are available based upon the type of assistance needed. It is important to
note that the implementation of projects is managed by the government itself.
The government designates an office, referred to as the Project Implementing
Agency (PIU), which is responsible for aspects such as procurement and selection
of consultants and day-to-day work, monitoring, and evaluation.
The Bank’s operational policies set guidelines to ensure that projects meet its own criteria such as social and environmental standards. Projects are evaluated to capture and share lessons for similar projects in future.
LENDINGAt the end of June
30, 2010, the World Bank group had 75 active projects in the country. The net
commitment for these projects was about $21.4 billion. New lending in FY10
(1 July 2009- 30 June 2010) amounted to $9.3 billion.
Total
IBRD/IDA Commitments as on June 30, 2010 (FY10): $21.4
billion
(by fiscal year, in nearest $ billion)
The World Bank also
produces studies and reports based upon its own analysis of a given issue.
Topics of research come from the Bank's Country Strategy. This research is
intended to provide an unbiased perspective on a range of specific development
challenges faced by the country.
Additional studies
include reviews of economic policies (Country Economic Memoranda), fiscal
spending (Public Expenditure Reviews), environmental reviews (Environmental
Action Plans), and other specific topics.
Further
discussion of development issues is promoted through workshops and other events.
These events bring together groups such as government, media, and civil society
organizations to discuss how best to move forward on a given issue. | ||||||||||||||||||||||||||||||
Sunday, 1 January 2012
World bank in India
Sunday, 25 December 2011
Association For Basic Necessities : Organization Profile
ORGANIZATION PROFILE
Address: - Sr No
267/3/4 , Anandnagar , Hadapsar , Pune 411028
Association
For Basic Necessities is a concern , that is headquartered in Pune . Association
For Basic Necessities has been constantly trying newer and more innovative
methods of raising funds for the deserving organizations that it works with.
Through an ingenious approach devised by the founder Mrs. Rupam Prakash Jha ,
Association For Basic Necessities has been able to effectively tap into
the segment of ‘Individual Philanthropy’ very effectively. There are many
people who wish to contribute, modest sums of money for a good cause, but are
unaware on which agency they must approach for the same purpose. Most
importantly, these individuals may not have the time or the inclination to go
in search of such agencies. By reaching them directly, this problem is
eliminated and hence, the philanthropy of these individuals can be passed onto
the organizations that have a requirement for the same. India is a country of a
100 Crore people. Of this 100 Crore, even if half a percent of these
individuals were to contribute an amount equivalent to Rs 1000/- per annum,
imagine the amount of funds that can be raised for the needy in this country.
It is this kind of a phenomenon that Association For Basic Necessities plans to
unleash and utilize for the good of people in this country.
Over the past years
using this strategy, she has been successful in raising sizable funding for
deserving and reputed organizations. Now in order to scale the operations on a
pan-India level the company requires some initial funding. Any entity or
organization that may be interested in partnering in this effort is invited to
come forward show their interest. It would be our pleasure discuss this in
greater detail with you. We invite you to show your interest in investing in
our organization and help us move closer to our mission with a motive of value
creation and profit in mind.
¨ To cater to the needs of the unemployed in today's scenario when the Unemployment has become the greatest Questions/ Problem for "today's youth and due to which Crime Ratio is going on increasing thereby causing unrest in everyone's minds
¨ Help the unemployed to help themselves by earning their livelihoods by giving them employment and become self dependent
Major Concerns of the Organization
E- Commerce Professional
Association For Basic Necessities
Contact: - 08149517000
Society Registration Act 1860 : maha/2030/2011/pune
Bombay Public Trust Act 1950 ()
Association
For Basic Necessities
There
are several companies in India that work towards helping NGOs raise money. Association
For Basic Necessities is a firm with a difference. Most large organizations
have the budget to throw fundraisers and raise funds from the wealthy
individuals in the city/country, but there is no organization that targets the
smaller NGOs that do not have sufficient funds to run their daily operations.
It is here that Association For Basic Necessities steps in and aides
these organizations through largest pool of funding available in the world – Individual
Philanthropy.
“A
country advances only when all the people of the country move forward”
The
promoter of the company Mrs Rupam has had a very strong and successful stint in
the corporate world. Despite the ease with which she rose in her career, she
chose helping NGOs as the work that she wanted to pursue for the rest of her
life. Mrs Rupam noticed that it was these NGOs that were really working towards
creating a better tomorrow for the nation, by uplifting those who have nobody
to support them. This prompted her to work with the NGOs and support their
efforts by helping them with their fundraising activities. Step by Step,
Obstacle by Obstacle, Basic Necessities Fund has moved forward against
all odds to make the end of these organizations meet. It was during this
struggle that Mrs Rupam devised an ingenious method of raising funds for these
organizations. When the Flood hit’s the North Bihar on a Year to Year basis or
Tsunami had hit Chennai, or the flood in Mumbai she noticed that not government
nor corporate; it was the immediate contribution of the individuals that aided
towards the relief operations of all the affected areas. Mrs Rupam devised
strategy to harness the power of this individual philanthropy to help the most
deserving NGOs.
VISION
¨
To
increase/enhance the standard of living
of the common people of India by giving them the basic necessities like Food , Shelter and Clothing's ¨ To cater to the needs of the unemployed in today's scenario when the Unemployment has become the greatest Questions/ Problem for "today's youth and due to which Crime Ratio is going on increasing thereby causing unrest in everyone's minds
MISSION
¨
To raise funds
for the basic necessities of the people living in the downtrodden areas and the victims of the Natural and Man Made
Calamities ¨ Help the unemployed to help themselves by earning their livelihoods by giving them employment and become self dependent
Major Concerns of the Organization
Ø Stimulating urge, self- initiative
and capability of the Unemployeds People,
community based institutions and organizations towards realistic
development.
Ø Appreciating peoples' perspectives
and concerns instead of imposition from above
Ø Development with committed, effective
and active participation of People from Marginalized Society.
Ø Enhancing qualitative and holistic
aspects of development
Strategy of Work
·
Proper mix
of Long term and Short term projects.
·
Involving
the help of the Operating Local NGO
·
Multi –
Sectoral intervention.
·
Self-sustainability
of major projects.
·
Respect for
Indian culture and Religion
Our Main Focus Areas :
·
Children
Education and Development
·
Women
Empowerment
·
Health
Awareness
·
Disaster
Management
·
Orphanages
and Old Age Homes
·
Other
Cultural Activities
Some Major Activities we
have done in past :
- Helped the flood victims in Hayaghat , Bihar to keep their heads above water to save their Lives .
- Helped the flood victims with Food and necessary medicine
- Distributed the Rations to the needy and downtrodden who lack the Sources of income in their families
- Conducted Sewing Training Workshops
·
Conducted Mithila Painting Workshop in Madhubani
·
Distributed Books and Notebooks to the Poor and Needy Childrens
·
Organised Health awareness camps
·
Contributed towards Children education by providing free Tution
classes by our Part Time teachers
·
Offered Free Sewa
services to Kanwariyas on way from Sultanganj to Deoghar
·
Ration Distribution in Rewa to the poor and needy on the Occasion of Diwali
Our Future Plans
“Association For Basic
Necessities ” is a
Non-Profit Organization Registered under the Social Development Registration
act during the Year Nov 2011.
Organization is based in Pune and worked in all over the Madhya Pradesh , Bihar
States of India.
From the last three Year Organization is working on providing
different services related to Children Education and Development , Women Empowerment , Health Awareness ,
Disaster Management and the other
cultural activities for the help of poor
and the needy in all over the Bihar
State .
Presently we are in process of working in these sectors and
expand ourselves in all across India after our Registration this year , first phase of which includes
Madhya Pradesh , Maharashtra , Delhi , Chhatisgarh
Governing Body :
President and Managing Director : Mr Prakash Jha
Secretary and Director : Mrs Rupam Jha
Treasurer :
Mr Subhash Jha
Accounts :
Mr Madan Kumar Jha
Associate Member :
Mr Raushan Choudhary , Mr Vikramaditya Jha and Sushri Minakshi
Presidents
Profile :
Name : Prakash Jha
Name : Prakash Jha
A Visionary and a Marketing Professional with
many prominent achievements in his name and person with soft heart towards the
poor and the needy
Education : BSc (
Chemistry , Botany and Zoology ) from Nagpur University (1998)
MBA (
Marketing and Finance ) from Nagpur University ( 2000)E- Commerce Professional
Diversified Work
Experience of around 11 years in various
Industries like Automobiles , Stock Broking , General Insurance and Life
Insurance , Pharmaceuticals and Bio-Technological Sales with many prominent achievements in his
name throughout his career and academics .
He have conducted
and participated in various seminars and
conferences related tothe Management Studies , Marketing ,and Public Issues .
He has conducted
some Personality Development Workshops
for Senior Proffessionals
He was an active
participant in many Social Activities for the help of poor and the needy at
various levels of Management .
Monday, 19 December 2011
Khichdi Vitaran
On the Occassion of Makar Sankranti on 14 th Jan 2012 We plan to distribute Khichdi in Darbhanga to the downtrodden and the needy . We want that all should celebrate this Makar Sankranti with happiness , we are just trying to give happiness to atleast few and help them in being happy for this day of Sankranti .
http://basicnecessitiesfund.webs.com/apps/donations/
http://basicnecessitiesfund.webs.com/apps/donations/
Friday, 2 December 2011
Sweaters and Study Materials
Sweaters to be Distributed in Balika Ashram
Sweaters and Study Materials to be distributed to all the inhabitants of the Balika Ashram , Bhopal . This Ashram is owned by the Government but the supply is insuffucient when compared with the actual needs of the residents . We are just trying to reduce the gap between the Demand and Supply
http://basicnecessitiesfund.webs.com/apps/donations/
Sweaters and Study Materials to be distributed to all the inhabitants of the Balika Ashram , Bhopal . This Ashram is owned by the Government but the supply is insuffucient when compared with the actual needs of the residents . We are just trying to reduce the gap between the Demand and Supply
http://basicnecessitiesfund.webs.com/apps/donations/
Tuesday, 29 November 2011
Donate to the Cause
You can donate a humble amount towards the Noble cause we are indulged in and get the feeler of having done the same by you yourself
You can donate any humble amount to any of the Account directly
1) Name of the Bank : ICICI Bank Ltd
Branch Name : Ramdaspeth , Nagpur
Account Holders Name : Prakash Jha ( President and MD of ABN)
Account No : 624201507062
2) Bank Name : Union Bank of India
Branch Name : Loni Kalbhor
IFSC Code : UBIN0558303
Account Holders Name : Association For Basic Necessities
Account No : 583002010004483
We are thankfull to you in anticipation for the support .
Your small contribution can matter to us a lot
http://basicnecessitiesfund.webs.com/apps/donations/
Tuesday, 22 November 2011
NGO is meant to change Poor peoples Lifestyle
Charitable organization is meant to change poor people’s lifestyle
Donation is such kind of water that can harvest a new life for the poor people. On deciding to donate, you have the prospect of contributing in the form of cash and kind both. You can get in touch with your nearest charitable organisation that can utilize your contribution for a good cause. There are certain things that you can bequeath to such charitable organizations for children. Medicines for their health care, food for satisfying their hunger, books for their education, clothes to replace their tattered pieces and other things can be donated to keep their living areas clean. All these are a part of basic amenities and tend to improve the lifestyle of poor people.
The unhygienic living conditions lead unfortunate people to get various life threatening diseases that has no cure too. On seeing this, we all should stand up collectively to solve the problem of underprivileged children and destitute people. After all, being responsible citizens of India, one should have that sense of patriotism and help such people as much as possible. The benefit of donating to a charitable foundation is that the donation collector gives your proper receipt. This helps you to track your contributions that they are used for the said cause or not. Moreover, this helps you to keep a record of regular donations made. It is also necessary as you are paying a part of your hard earned money. This will help you to take a note of things contributed in this direction.
The unhygienic living conditions lead unfortunate people to get various life threatening diseases that has no cure too. On seeing this, we all should stand up collectively to solve the problem of underprivileged children and destitute people. After all, being responsible citizens of India, one should have that sense of patriotism and help such people as much as possible. The benefit of donating to a charitable foundation is that the donation collector gives your proper receipt. This helps you to track your contributions that they are used for the said cause or not. Moreover, this helps you to keep a record of regular donations made. It is also necessary as you are paying a part of your hard earned money. This will help you to take a note of things contributed in this direction.
Working for Child Welfare
Working for Child Welfare India
In a developing country like India where child welfare should be given the top priority, it is the most neglected area. Child welfare does not only mean providing free education to children but to ensure that they are educated in a healthy environment that supports their educational growth. Child development education therefore, is introduced to make the future of India blossom and grow up to be responsible citizens of the country. However, child welfare in India is also hampered owing to the poverty existent in the rural as well as slum areas of the metropolitan cities.
Though the government is taking steps to offer proper education to each and every child, it doesn’t necessarily reap up practical results. The target of offering child development education can only be achieved through schools which are outfitted with all the basic facilities like proper building, medical, hygienic and sport facilities besides a qualified faculty. It is a pitiable state that a number of Indian children are still deprived of basic education and many others who are being educated in the municipal schools are bereaved of basic facilities and study under unhygienic conditions an intolerable surrounding leading many cases of drop-outs. Therefore, where education is free facilities are nil which questions the ability of government to work for child welfare India. Being a responsible citizen, we should instead of cribbing for the lack of facilities lend our helping hands for child welfare India and donate for charity for children.
Though the government is taking steps to offer proper education to each and every child, it doesn’t necessarily reap up practical results. The target of offering child development education can only be achieved through schools which are outfitted with all the basic facilities like proper building, medical, hygienic and sport facilities besides a qualified faculty. It is a pitiable state that a number of Indian children are still deprived of basic education and many others who are being educated in the municipal schools are bereaved of basic facilities and study under unhygienic conditions an intolerable surrounding leading many cases of drop-outs. Therefore, where education is free facilities are nil which questions the ability of government to work for child welfare India. Being a responsible citizen, we should instead of cribbing for the lack of facilities lend our helping hands for child welfare India and donate for charity for children.
Donating for Child Development and Education
Donating for child development education
Guys you will agree with me if We say that most rural villages in India are unexplored…unexplored in the sense of development. And We believe there are thousands of such villages derailed from a developing India. These rural regions lack the most basic necessities of life with hardly any school facility, medical conveniences, proper sanitation, unpolluted water, and the list goes on and on.
Thanks to the many NGOs and charity organizations that utilize people’s donation for children towards child development education and other developmental activities in such areas. Their scope of activities also includes complete upliftment of slum children, street children, malnourished children, and those needy who need all the basic necessities of life. The government also supports these organizations in their developmental endeavors.
We have been donating for child development education and other developmental programs for the last one year without break. The platform is whom we trust , we used to donate half yearly as an individual. Initially we filled in a few details to fill the form. It gives us great joy to just experience the feeling that a part of our earnings is utilized for the cause of child development education. The donation amount hardly affects our budget… well, don’t we just spend money for no reasons at times? It is better that the amount is utilized for a good cause. There are also provisions for donation for children as a corporate; we guys can be a part of a corporate donation through staff fund raising, sales promotion and the like.
Thanks to the many NGOs and charity organizations that utilize people’s donation for children towards child development education and other developmental activities in such areas. Their scope of activities also includes complete upliftment of slum children, street children, malnourished children, and those needy who need all the basic necessities of life. The government also supports these organizations in their developmental endeavors.
We have been donating for child development education and other developmental programs for the last one year without break. The platform is whom we trust , we used to donate half yearly as an individual. Initially we filled in a few details to fill the form. It gives us great joy to just experience the feeling that a part of our earnings is utilized for the cause of child development education. The donation amount hardly affects our budget… well, don’t we just spend money for no reasons at times? It is better that the amount is utilized for a good cause. There are also provisions for donation for children as a corporate; we guys can be a part of a corporate donation through staff fund raising, sales promotion and the like.
Monday, 21 November 2011
Orphanages
Every Child Is Not So Fortunate............
We cannot Help every one , But everyone can help Someone..........,
A Little help gives a lot of Hope ...............
The Anath Ashram will be established to support the children who have lost their parents. Our inmates will also include widows, mentally and physically challenged persons, diseased people and olds.
| |
1.
|
You can donate money which can help us in following ways.
|
(a)
|
The construction, building and furnishing costs for the new facility.
|
(b)
|
Utilities (i.e., firewood, charcoal, paraffin).
|
(c)
|
A child’s education. The children in the orphanage are required to attend school.
|
Participating in our Donation program will support the purchase of a child’s uniform,
| |
tuition, fees, books, and school supplies.
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(d)
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Toiletries, clothing and medical supplies.
|
2.
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Personnel. We are in consistent need of the volunteers who can help us in various
|
Ways.
| |
3.
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Consistent supply of potable water. You can help us by installing water filters in
|
ashram which will ensure clean drinking water to inmates.
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4.
|
Beyond making donations in cash you can also donate toys, , blankets and other
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daily used goods.
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To do and cause to be done all such lawful things as the accordance with spirit and principle of the objects of the society or which are conducive to the attainment and pursuit of the aims and object of the society. For the achievement of above objects the society shall have the authority to accept grants , donations and gifts etc. from any person and to buy , sell hypothecate movable and immovable properties and may be needed for the promotion of aims and objects of the society from time to time.
http://basicnecessitiesfund.webs.com/apps/donations/
http://basicnecessitiesfund.webs.com/apps/donations/
Wednesday, 9 November 2011
Using Life Insurance To Make Charitable Donations
Millions of Indians make donations of cash and property to the charities of their choice each year. However, while these donations can provide valuable tax deductions, many donors are left wishing that they could do more for the charities that they love and support. Some donors would therefore be wise to consider using their life insurance policies as a more effective means of leveraging the support they provide. In many cases, this can be the most effective and convenient asset that they can give. However, there are a few different ways that this can be done. This article examines the various methods of life insurance donations and their advantages.
Charitable Giving Riders
Charitable giving riders are a relatively new addition to the family of riders available in modern life insurance policies. For example, these riders can be attached to policies with face values of over $1 million and then pay an additional 1-2% of the policy’s face value to a qualified charity of the policyholder’s choice, although sometimes there are limitations placed on the maximum allowable gift amount. Furthermore, these riders usually come at no additional cost and often do not increase the premium or reduce the cash value or the death benefit of the policy. These riders effectively eliminate the need to create, pay for and administrate separate gift trusts until the death of the insured.
Once the rider has been added, no further action is needed by the policyholder. These riders do have a few limitations; perhaps the largest is the high amount of protection that must be purchased in order to use them. Any charity chosen must also be a qualified 501(c)3 charity that meets the IRS definition of a nonprofit organization. Furthermore, make sure that the charity will actually accept your life insurance policy. Some types of policies, such as term policies, are often shunned by these organizations.
http://basicnecessitiesfund.webs.com/apps/donations/
Policy Donations
Although this strategy is a bit more involved than merely purchasing a charitable gift rider, policy donations also provide a much greater benefit to the donor as well as the charity. Gifting a life insurance policy can greatly reduce the donor's taxable estate, which can save thousands of dollars in estate taxes for upper-income taxpayers. Gifting a policy can also yield a current income tax deduction of the policy’s fair market value. Of course, this deduction can be quite significant in some cases.
Charitable Giving Riders
Charitable giving riders are a relatively new addition to the family of riders available in modern life insurance policies. For example, these riders can be attached to policies with face values of over $1 million and then pay an additional 1-2% of the policy’s face value to a qualified charity of the policyholder’s choice, although sometimes there are limitations placed on the maximum allowable gift amount. Furthermore, these riders usually come at no additional cost and often do not increase the premium or reduce the cash value or the death benefit of the policy. These riders effectively eliminate the need to create, pay for and administrate separate gift trusts until the death of the insured.
Once the rider has been added, no further action is needed by the policyholder. These riders do have a few limitations; perhaps the largest is the high amount of protection that must be purchased in order to use them. Any charity chosen must also be a qualified 501(c)3 charity that meets the IRS definition of a nonprofit organization. Furthermore, make sure that the charity will actually accept your life insurance policy. Some types of policies, such as term policies, are often shunned by these organizations.
http://basicnecessitiesfund.webs.com/apps/donations/
Policy Donations
Although this strategy is a bit more involved than merely purchasing a charitable gift rider, policy donations also provide a much greater benefit to the donor as well as the charity. Gifting a life insurance policy can greatly reduce the donor's taxable estate, which can save thousands of dollars in estate taxes for upper-income taxpayers. Gifting a policy can also yield a current income tax deduction of the policy’s fair market value. Of course, this deduction can be quite significant in some cases.
Perhaps most importantly, the charity will receive the entire face amount of the policy upon the death of the insured. This is usually going to be many times the amount that they would receive from any rider, and can represent a substantial windfall. However, the cost to the donor will only be a small fraction of that amount each year, and any premiums paid after the date of the gift will be deductible as well.
There is also no limit on the size of the policy that may be donated, since charitable donations have no ceiling for estate tax purposes. This strategy also does not impede the donor’s current investment strategy, and can also provide a useful way to dispose of an unwanted policy that was originally purchase to cover a need that no longer exists.
http://basicnecessitiesfund.webs.com/apps/donations/
Naming a Charity as Beneficiary
Naming the charity of your choice as the beneficiary of your life insurance policy is the simplest way to provide a charity with the death benefit proceeds from a policy, although it does not offer the income tax advantages that come with gifting a policy. However, it still reduces the donor’s estate by the amount of the death benefit. Donors who are unsure of exactly how they want to apportion their assets after death can list a charity as a revocable beneficiary if they so choose. This gives them flexibility in future planning in case their financial situation changes.
Naming a charity as a beneficiary also ensures the privacy of the transaction, which can be important for donors who wish to keep their gifting intentions secret from their families or other heirs. Transfer of assets from an insurance contract is also absolutely incontestable, thus rendering anyone contesting the estate settlement powerless to stop it. Furthermore, the donor remains in a position to change the beneficiary prior to his or her death. If the donor chooses to stop paying the premiums, the charitable organization can choose to continue the process or can allow the policy to lapse.
http://basicnecessitiesfund.webs.com/apps/donations/
Gifting Policy Dividends
Although gifting policy dividends will not provide the same amount of benefit to a charity as the other strategies discussed, it is possible for policyholders to receive the dividends paid to their life insurance policies in cash and donate them to charity. The dividends donated are deductible in the same manner as premiums paid on a gifted policy, and this strategy does not require any additional cash outlay from the donor. Corporations can also effectively implement this strategy as a giving policy to realize tax and community benefits.
http://basicnecessitiesfund.webs.com/apps/donations/
Conclusion
Donors who wish to leverage their cash donations to charity can use life insurance as an excellent means of accomplishing their goal. By either gifting a policy outright or naming a charity as beneficiary, they can provide the charity of their choice with a large sum of money that can provide a lasting legacy for a cause that they believe in. Donors should consider the use of charitable riders on their cash value insurance policies to provide at least a small gift if possible. For more information on the use of life insurance as a gifting tool, consult your insurance agent or financial advisor.
http://basicnecessitiesfund.webs.com/apps/donations/
There is also no limit on the size of the policy that may be donated, since charitable donations have no ceiling for estate tax purposes. This strategy also does not impede the donor’s current investment strategy, and can also provide a useful way to dispose of an unwanted policy that was originally purchase to cover a need that no longer exists.
http://basicnecessitiesfund.webs.com/apps/donations/
Naming a Charity as Beneficiary
Naming the charity of your choice as the beneficiary of your life insurance policy is the simplest way to provide a charity with the death benefit proceeds from a policy, although it does not offer the income tax advantages that come with gifting a policy. However, it still reduces the donor’s estate by the amount of the death benefit. Donors who are unsure of exactly how they want to apportion their assets after death can list a charity as a revocable beneficiary if they so choose. This gives them flexibility in future planning in case their financial situation changes.
Naming a charity as a beneficiary also ensures the privacy of the transaction, which can be important for donors who wish to keep their gifting intentions secret from their families or other heirs. Transfer of assets from an insurance contract is also absolutely incontestable, thus rendering anyone contesting the estate settlement powerless to stop it. Furthermore, the donor remains in a position to change the beneficiary prior to his or her death. If the donor chooses to stop paying the premiums, the charitable organization can choose to continue the process or can allow the policy to lapse.
http://basicnecessitiesfund.webs.com/apps/donations/
Gifting Policy Dividends
Although gifting policy dividends will not provide the same amount of benefit to a charity as the other strategies discussed, it is possible for policyholders to receive the dividends paid to their life insurance policies in cash and donate them to charity. The dividends donated are deductible in the same manner as premiums paid on a gifted policy, and this strategy does not require any additional cash outlay from the donor. Corporations can also effectively implement this strategy as a giving policy to realize tax and community benefits.
http://basicnecessitiesfund.webs.com/apps/donations/
Conclusion
Donors who wish to leverage their cash donations to charity can use life insurance as an excellent means of accomplishing their goal. By either gifting a policy outright or naming a charity as beneficiary, they can provide the charity of their choice with a large sum of money that can provide a lasting legacy for a cause that they believe in. Donors should consider the use of charitable riders on their cash value insurance policies to provide at least a small gift if possible. For more information on the use of life insurance as a gifting tool, consult your insurance agent or financial advisor.
http://basicnecessitiesfund.webs.com/apps/donations/
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