ISRA Planned Giving

Whether your gifting goals are to help support and protect the rights and freedom of all citizens protected by the Bill of Rights under the United States Constitution or to preserve and protect the rights of sportsmen to possess and use firearms, a gift to the Illinois State Rifle Association and its affiliated organizations can further your objectives. No matter how or what you give, your gift will help support the mission of the Illinois State Rifle Association today and in the future.


Illinois State Rifle Association Organizations

Illinois State Rifle Organization (ISRA)

420 East Locust Street
PO Box 637
Chatsworth, Illinois 60921-0637
 
The ISRA is an Illinois Not-For Profit Corporation which is a tax exempt organization qualified under Section 501(c)(4) of the Internal Revenue Code. Contributions or gifts to the ISRA are not deductible as charitable contributions for Federal income tax purposes.
 

Illinois State Rifle Association Legal Assistance Committee (ISRA-LAC)

422 East Locust Street
PO Box 494
Chatsworth, Illinois 60921-0494
 
The ISRA-LAC is an Illinois Not-For Profit Corporation which is a tax exempt organization qualified under Section 501(c)(3) of the Internal Revenue Code. Contributions or gifts to the ISRA are deductible as charitable contributions for Federal income tax purposes in accordance with the provisions of Section 170 of the Internal Revenue Code.
 

ISRA Federal Political Action Committee (ISRA-FED PAC)

422 East Locust Street
PO Box 434
Chatsworth, Illinois 60921-0434
 
The ISRA-FED PAC is an Illinois Not-For Profit Corporation which is a tax exempt organization qualified under Section 527 of the Internal Revenue Code. Contributions or gifts to the ISRA-FED PAC are not deductible as charitable contributions for Federal income tax purposes.
 

ISRA Political Victory Fund (ISRA-PVF)

422 East Locust Street
PO Box 476
Chatsworth, Illinois 60921-0476
 
The ISRA-PVF is an Illinois Not-For Profit Corporation which is a tax exempt organization qualified under Section 527 of the Internal Revenue Code. Contributions or gifts to the ISRA-PVF are not deductible as charitable contributions for Federal income tax purposes.
 

How to Give

 Giving to ISRA Organizations can be accomplished by contributing cash, stock, firearms and other personal property, appreciated assets, life insurance or retirement plan assets. You can leave a bequest, make a direct gift, or make life income gifts. The following explains some of the alternative means of gifting.
 

Bequests

 A bequest can be made by including a provision to that effect in your will or trust document. The first step in making a bequest is to choose which ISRA Organization will be the beneficiary of your bequest. The second step is to determine the type of gift you want to make to the designated beneficiary. You can make a gift of a specific amount of cash, specific items of investment assets, a percentage of your entire estate, or a non-monetary gift such as a firearm or other item of tangible property. Next, meet with your legal professional to have your will or trust updated to include your desired bequest. As a guide, the following are suggested bequest provisions to add to your will or trust to make your gift. Your legal professional may have other preferred language to use to accomplish your gift.
 
Specific Bequests of Cash
 
To make an unrestricted gift:
I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] the sum of $___________ as an unrestricted gift.


To make a gift to establish an endowment to benefit a specified purpose:

I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] the sum of $___________ , to be held for the benefit of [describe special purpose ]. (By way of example: ‘the promotion of youth firearms safety education”)
 
Residuary Bequest
 
To make an unrestricted gift:
I give, devise and bequeath to [fill in the name of the beneficiary ISRA Organization] all [or state a ___%] of the rest, residue, and remainder of my property, both real and personal and wheresoever situated, as an unrestricted gift.

 

To make a gift to establish an endowment to benefit a specified purpose:

I give, devise and bequeath to [fill in the name of the beneficiary ISRA Organization] all [or state a ___%] of the rest, residue, and remainder of my property, both real and personal and wheresoever situated, to be held for the benefit of [describe special purpose]. (By way of example: ‘the promotion of youth firearms safety education”)
 

Gift of Firearms or Other Personal Property

To make an unrestricted gift:

I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] [describe property] (By way of example: “all of my firearms”)  as an unrestricted gift.

To make a gift to establish an endowment to benefit a specified purpose:

I give, devise and bequeath to the [fill in the name of the beneficiary ISRA Organization] [describe property],(By way of example: “all of my firearms”) to be held for the benefit of [describe special purpose ]. (By way of example: ‘the promotion of youth firearms safety education”)
 

Gifts of Securities and other Appreciated Assets

 A gift of appreciated securities or other assets to a charitable organization such as the LAC is an excellent alternative to a cash gift because it saves taxes twice. You receive an income tax deduction for the fair market value of your securities or other assets (that have been held for more than one year), plus you also save the capital gains tax on the appreciation.
 

Gifts of Life Insurance

Life insurance can be used to make a gift to an ISRA Organization, allowing you to make a substantial gift for a relatively small cash outlay.
 
How to make a gift of life insurance:
There are three ways to make a gift of life insurance.
 
1.       You can purchase a new life insurance policy and name an ISRA Organization as the irrevocable owner and beneficiary.
2.       You can transfer an existing policy and name an ISRA Organization as the policy’s irrevocable owner and beneficiary.
3.       You can add an ISRA Organization as a primary or contingent beneficiary on a new or existing life insurance policy.
 

Gifts of Retirement Plans

 You can name an ISRA Organization as a primary or contingent beneficiary of your retirement plan, including  an IRA. The suggested language to add to your retirement pan beneficiary designation form is as follows:
 
The ___% beneficiary of my retirement account is the [fill in the name of the beneficiary ISRA Organization].
 
Note: If the owner of the retirement account has a surviving spouse, a written consent of the change to the beneficiary designation will be required.
 

Charitable Gift Annuities

A charitable gift annuity is a convenient way to make a gift that benefits both the donor and the donee. A charitable gift annuity combines a gift with an annuity. In return for a gift to a charitable organization such as the LAC, the donor receives regular, fixed payments for life.  
 

Charitable Remainder Trusts

A Charitable Remainder Trust provides the donor with an income for life, which can grow as the funds in the trust increase in value. Upon expiration of the term of the trust, the remainder of the trust is used for the charitable purpose established by you at its creation. Your Charitable Remainder Trust can be designated either as a Unitrust, in which case you are paid a fixed percentage of the value of the assets held in the trust, or as an Annuity Trust, with a fixed annual payment to you.


Charitable Lead Trusts

A Charitable Lead Trust allows you to transfer property to family members with significantly reduced gift or estate taxes. A Charitable Lead Trust is established for a specific term by contributing to the trust an income generating asset, usually real estate. The trust pays a fixed annual amount to your designated charitable organization such as the LAC until the end of the term. At the end of the term the trust’s assets pass to your heirs or beneficiaries.
 

Gift Planning Assistance

Should you need assistance with implementing your gift to an ISRA Organization, or require a referral to an estate planning professional, please contact the ISRA office at 815.635.3198 and we will be happy to refer you to our General Counsel.