January 27, 2015

An Easy Way to Give to the ASPCA: Bank Accounts

An Easy Way to Give to the ASPCA: Bank Accounts

While many—or even most—of us have a bank account, this asset is often overlooked when planning a gift to charity. You may have the option to leave instructions with your bank or investment institution naming a beneficiary to receive your account upon your passing. These are sometimes known as "payable on death" or "transfer on death" accounts. 

You retain complete control over the funds or assets in the account while you are living. This allows you to retain full ownership and use of your money during your lifetime; anything left over when you pass away goes to help the animals the ASPCA serves. 

You do not have to change your will or work with an attorney or an accountant, and there are no fees to arrange such a gift. This arrangement is also revocable; you could decide later to change your pay on death beneficiary to a family member, friend or other entity. 

All you have to do is complete a form provided by your bank or financial institution. This is some information your bank might need:

The ASPCA’s full name: American Society for the Prevention of Cruelty to Animals
Our address: 424 East 92nd Street, New York, NY 10128
Our Federal Tax ID #: 13-1623829

For more information on how you can make a future gift to animals, please contact the ASPCA’s Office of Gift Planning at (212) 876-7700 ext. 4505 or by email at [email protected]. You can also find more information on the Planned Giving section of the ASPCA website.

The material presented on this website is intended as general educational information on the topics discussed herein and should not be interpreted as legal, financial or tax advice. Please seek the specific advice of your tax advisor, attorney and/or financial planner to discuss the application of these topics to your individual situation.