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Do you ever think about how you want to be remembered? Have you considered ways to continue helping,
for generations to come, the causes important to you?
Providing for the future well being of your own family and at the same time supporting the mission
of Shelter can be accomplished by a variety of gifts known as planned gifts. Charitable giving is
an important tradition for many people. Making gifts for the benefit of others offers a wonderful
way to affirm your values and priorities. All gifts to The Nancy K. Perry Children's Shelter are
tax deductible to the full extent of the law. Our staff will be happy to work with you and your
financial advisor or attorney to assure that any gift you make meets your personal objectives.
You can make a charitable contribution from an IRA during your lifetime. You must, however,
report the distribution on your income tax return and then claim an offsetting charitable
deduction. An easy way to make a legacy gift is to name The Nancy K. Perry Children's Shelter
as a beneficiary of your retirement plan or life insurance policy. To do this, simply contact
the company holding the plan for a change of beneficiary form.
When The Shelter is named as the owner and sole beneficiary of the policy, the donor
receives an immediate income tax charitable deduction generally equal to the cash value
of the policy. Premium payments made by the donor are tax deductible. You can also
share a portion of your life insurance policy with CSI by designating a specific
percentage of the policy to Shelter.
By making a gift of appreciated securities, such as common stock you can benefit from some
special tax advantages: 100% of the tax on capital gains may be bypassed and the fair market
values of the stock may be claimed as a charitable deduction.
Personal property such as artwork, jewelry, rare coins and stamps, and book collections
may be contributed to The shelter. Consultation with us in advance is recommended for
this kind of gift. These gifts are tax deductible for their fair market value, but donors
need to be aware of IRS rules requiring qualified appraisals.
Estate gifts and planned gifts provide substantial support for future programs. These
forms of giving, particularly suited to those desiring to make a larger gift through
their estate or a planned gift during their lifetime, can have a significant impact
on The Shelter's ability to meet the needs of the future. Because tax-deferred
investments within qualified retirement plans have been so successful, many people
know they have enough funds for retirement plus additional amounts left over for
their heirs as well as giving to charitable causes.
Wills are the most common form of an estate gift. Important tax savings can result from
this type of contribution since bequests to CSI qualify for an estate tax deduction.
Drafting a will should be arranged through an attorney. It is not necessary to rewrite
a will to include The Shelter. A codicil or amendment to one's will can accomplish the
benefactor's objectives.
If you are interested in leaving a bequest, please use our legal name: The Nancy K.
Perry Children's Shelter.
If you wish for only investment income from your gift to be used each year to benefit
the children and families, please specify this in your will or trust. This ensures
that your gift will live on in perpetuity.
A gift annuity is created by a simple contract between the donor and The Shelter.
We guarantee to pay the donor and/or another person income for a lifetime.
The donor is entitled to a tax deduction in the year the annuity is established.
The amount of the charitable deduction depends on the age or ages of the person(s)
receiving the annuity payments.
An additional option for benefactors wishing to receive income during their lives,
while at the same time providing a significant gift to The Shelter, is the charitable
remainder trust. The donor transfers cash or other property to a trustee. The trustee
then pays income for a lifetime to the donor or other designated income beneficiary.
These income payments can be a fixed dollar amount (annuity trust) or a specified
percentage of the total trust assets as valued each year (unitrust).
The tax benefits to the donor are considerable: (1) an income tax deduction for the value
of the charitable remainder interest, (2) 100% bypass of the tax on capital gains if the
trust is funded with appreciated property; (3) no estate tax on part or all of the value
of the trust. The principal of the trust is distributed to The Shelter following the
death of the last income beneficiary.
A donor wishing to defer income but ultimately retain the principal may have the income
paid to The Shelter by establishing a charitable lead trust. Income from this type of
trust is paid to The Shelter for a term of years, and then the trust principal reverts
to the donor or someone else such as the donor's heirs. The charitable lead trust can
offer some attractive estate planning opportunities for those in higher tax brackets.
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