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Bill and Terri Mantia Share a Passion for Animals

Bill and Terri MantiaColorado Springs residents Bill and Terri Mantia have only good things to say about the Humane Society of the Pikes Peak Region. "You can tell that they're dedicated to their mission," Bill says. "You get a sense that if you leave them a contribution, they will shepherd that resource appropriately."

That's why the Mantias made a commitment to leave part of their estate to the Humane Society through its Legacy Guild. They also choose to support the Humane Society of the Pikes Peak Region on a regular basis, and, as evidence of their true commitment, have only purchased one pet in their 26 years of married life. All of their other pets-and they've had about 20 to 25 cats and dogs over the years- have been rescued animals. At one point, Bill and Terri's compassion (and family) grew to include three dogs and 12 cats!

The Mantias have been living at their current residence in the Black Forest area of Colorado Springs since 1990. Bill believes their 15 acres with outbuildings and barns is an ideal location for animals. "We've got the space and we've got the financial means and, of course, the passion for the animals," he says.

Bill is a retired Army colonel, and his career led him to Colorado Springs in 1989. The Mantias became involved with the Humane Society shortly after that. "We acquired animals through adoption and saw the good work the organization was doing and thought they were a viable asset to the community," he says.

Bill retired from the Army in 1996 and is now CEO of a cardiology practice. Terri is an administrative assistant for a dental practice.

Although he grew up with dogs and she with cats, the Mantias don't pick favorites anymore. They now have three dogs and four cats. "We're lovers of both," Bill says.

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A charitable bequest is one or two sentences in your will or living trust that leave to the Humane Society of the Pikes Peak Region a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the Humane Society of the Pikes Peak Region, a nonprofit corporation currently located at 610 Abbot Lane, Colorado Springs, CO 80905, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to HSPPR or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to HSPPR as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to HSPPR as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and HSPPR where you agree to make a gift to HSPPR and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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