Now that Pegasus has moved our main base of operations to our permanent home in Brewster, NY, your support of our riders through the Pegasus Annual Fundraising Drive is more important than ever.
Why give to Pegasus Therapeutic Riding?
As a non-profit organization Pegasus relies on the volunteer and financial support of our community. We encourage everyone’s participation and we trust that you will be involved in our ongoing efforts to keep Pegasus true to its mission.
While it costs over $1 million a year to run Pegasus programs, only 9% comes from rider fees. The majority of our financial support comes from generous individuals, foundations, and corporations.
Knowing the financial strain borne by the families of challenged children and adults, Pegasus deliberately keeps its fees as low as possible. Your gift enables riders to participate in riding lessons at a significantly reduced cost. All Pegasus riders receive a subsidy: the cost of each ride is approximately $200, but the maximum cost per ride to the rider is $35. Some riders also receive an additional subsidy. Our policy is that no individual will ever be turned away because they cannot afford to pay.
What is the Annual Fundraising Drive?
Each year the funds raised through the Annual Fundraising Drive support the Pegasus operating budget. Your donation will help provide the resources essential to sustain and develop Pegasus programs, including:
- Protective head gear and other equipment for Pegasus riders
- Compensation for Pegasus certified instructors, physical therapists, and staff
- Veterinary, farrier and general expenses for Pegasus horses and ponies
- Equipment for our horses and ponies – saddles, bridles, halters, surcingles, etc.
- Horse and barn rental fees
- Additional financial aid for Pegasus riders in need
Remember that all gifts to Pegasus are tax-deductible and there are many ways to give. You may make a gift by check or credit card, or make a gift of stock.
What is a matching gift?
Many employers will match your gift through a matching gift program. Ask your human resources office for a matching gift form. If you would like to determine whether or not your employer has matching gift programs, click here for Company Search 2.0, a service provided by the Council for Advancement and Support of Education.
What is Planned Giving?
The Pegasus Legacy Society recognizes supporters of Pegasus who have made provisions for Pegasus through a bequest or other planned gift. If you wish to make a bequest to Pegasus, please let us know your plans so that we may recognize you as part of the Pegasus Legacy Society.
There are many types of planned gifts that allow donors to maximize their gifts and reduce income or estate taxes, including gifts of IRAs, life insurance, real estate, and gift annuities and trusts. For more information about planned giving, please call Jean Smith, Director of Development at (845) 669-8235 extension 102.
PLEASE NOTE: The information on this site was prepared as an educational service to you and is not intended as legal or tax advice. Consult your attorney, tax advisor or investment professional before making any decision based on this information.
Any other questions? Please call Jean Smith, Director of Development at (845) 669-8235 extension 102.
With you philanthropic and volunteer support, Pegasus will continue to provide Healing Hands on Horseback for Pegasus riders for generations to come.
THANK YOU ALL FOR YOUR GENEROUS SUPPORT!
Remember that all gifts to Pegasus are tax-deductible and there are many ways to give. You may make a gift by: check or credit card, or make a gift of stock.
FREQUENTLY ASKED QUESTIONS
How do I make a gift by check?
How do I make a gift by credit card?
How do I make a gift of stock?
How does gifting stock benefit me as a donor?
How do I deliver stock to Pegasus?
How do I determine the charitable contribution amount for a gift of stock?
What is the gift date?
Can I contribute stock that has depreciated, rather than appreciated, in value?
How do I make a gift with an IRA Charitable Rollover?
Who is eligible?
How much can I give and still take advantage of the tax-free benefits of the new law?
How long do I have to take advantage of this?
Can my gift fund a planned gift like a charitable trust or gift annuity?
If I make a gift to Pegasus from my IRA, how does this affect my required minimum distribution?
Do I have to pay capital gains tax on the amount that I give to Pegasus from my IRA?
If I give to Pegasus using funds from my IRA, do I qualify for a tax deduction on that amount?
Why does this only apply to individuals age 70 and one-half years or older?
How do I make a gift by check?
Mail a check (payable to Pegasus Therapeutic Riding) to: Jean Smith, Director of Development, Pegasus Therapeutic Riding, 310 Peach Lake Road, Brewster, NY 10509-1715.
How do I make a gift by credit card?
Click here to give online now, or call Jean Smith in the Development Office at (845) 669-8235 extension 102 to process over the phone.
Q: How does gifting stock benefit me as a donor?
A: As a donor of stock, you benefit in two ways. First, you avoid capital gains tax by transferring appreciated stock to Pegasus instead of selling it. Second, you receive an income tax charitable deduction for the full fair market value of the stock on the day the gift was made. (This assumes you have held the stock for longer than 12 months; the deduction cannot be more than 30% of your adjusted gross income (AGI) in one year. If your deduction would be more than 30% of your AGI, you can spread it out for up to five years. Contact your financial advisor for more details.)
Example: Ten years ago you purchased 100 shares of XYZ Corp. for $500. It is now worth $2,000. An outright gift of the stock to Pegasus would result in a charitable contribution deduction of $2,000. In addition, there is no tax on the $1,500 of appreciation.
Q: How do I deliver stock to Pegasus?
A: You must complete the Stock Gift–Wire Transfer Instruction Form. Please also call Jean Smith in the Pegasus Development Office at (845) 669-8235 extension 102 to notify us of your intentions. To ensure that the transaction is processed in a timely manner, please complete the form in its entirety. You may deliver the form through a broker, by mail, or by hand.
The most common method of delivery is through a brokerage house via DTC transfer. This electronic method transfers the stock from your account to an account in the name of Pegasus. Delivery instructions are included on the Stock Gift–Wire Transfer Instruction Form.. If you have the certificate of stock in your possession, please contact us for delivery by mail or by hand. The certificate must be made out to Pegasus Therapeutic Riding, Inc. Please note: DO NOT direct your broker to sell the stock for Pegasus. Stock sold by a donor for Pegasus is treated as a cash gift and subjects the donor to capital gains tax liability.
Q: How do I determine the charitable contribution amount for a gift of stock?
A: You can determine the charitable deduction by averaging the high and low value of the stock on the gift date. To find out the amount of a gift you have made, you may contact Jean Smith in the Pegasus Development Office at (845) 669-8235 extension 102.
A: The gift date differs depending upon the method of delivery. For an electronic transfer, it is the date of receipt of the wire transfer (electronic delivery date). For gifts made by mail, it is the postmark date. For hand-delivered gifts, it is the date of physical delivery.
Q: Can I contribute stock that has depreciated, rather than appreciated, in value?
A: It would be a tax advantage for you to sell depreciated stock, thereby establishing a capital loss. The cash proceeds may be contributed to Pegasus. Please consult an independent legal or financial advisor for specific advice about your individual situation.
How do I make a gift with an IRA Charitable Rollover?
New Charitable IRA Rollover Law!
If you are age 70 and one-half years or older, the newly enacted Pension Protection Act of 2006 allows you to make cash gifts totaling up to $100,000 a year from your traditional or Roth IRA to qualified charities without incurring income tax on the withdrawal. This is good news for people who want to make a charitable gift during their lifetime from their retirement assets, but have been discouraged from doing so because of the income tax penalty. The provision is effective for tax years 2006 and 2007 only, so you must act by December 31 to take full advantage. Below are some frequently asked questions about this unique opportunity.
Individuals age 70 and one-half years or older by the date of the gift. Specifically, in order to make a gift by 2007, you must be 69 by July 2, 2006.
How much can I give and still take advantage of the tax-free benefits of the new law?
The maximum amount that can be excluded from an IRA holder’s income is limited to $100,000 per taxpayer per year.
How long do I have to take advantage of this?
You have until December 31, 2007, to make a contribution for 2007.
Can my gift fund a planned gift like a charitable trust or gift annuity?
No. To qualify under this provision, your gift must be simply an outright gift to Pegasus.
If I make a gift to Pegasus from my IRA, how does this affect my required minimum distribution?
The amount that is rolled over from your IRA will be deducted from the amount of your required annual minimum distribution.
Do I have to pay capital gains tax on the amount that I give to Pegasus from my IRA?
No.
If I give to Pegasus using funds from my IRA, do I qualify for a tax deduction on that amount?
No. This special charitable IRA rollover allows individuals to avoid paying income taxes that were never paid when the funds were deposited, but you will not receive a charitable deduction.
Why does this only apply to individuals age 70 and one-half years or older?
Most IRAs require that individuals who have tax-deferred income saved in an IRA begin taking distributions from that account starting at age 70 and one-half years.
For more information on the IRA charitable rollover provision, please contact your financial advisor.
PLEASE NOTE: The information on this site was prepared as an educational service to you and is not intended as legal or tax advice. Consult your attorney, tax advisor or investment professional before making any decision based on this information.