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Development
Planned giving has many benefits, including tax deductions and the opportunity to make a lasting contribution to CHC.
Benefits of planned giving include:
An overview of giving strategies is provided in this brochure. It is important to consult your tax advisor about the effects of your gift on your income tax and/or estate taxes.
Cash gifts are the easiest to make and offer direct tax benefits. Cash gifts are deductible up to 50 % of adjusted gross income with a five year carryover for any excess deduction amounts.
Gifts of appreciated assets, held long-term (at least one year and one day), yield substantial tax benefits when transferred directly to CHC. Long-term appreciated securities gifts are deductible up to 30% of adjusted gross income with a five year carryover for any excess deduction amounts.
Gifts of retirement account balances may improve your overall tax consequences, increase amounts passing to heirs, and reduce income/estate taxes. To lessen estate and income taxes, you may consider donating qualified plan assets (such as IRAs) while leaving capital assets (such as stock) to your heirs. Donations can be made outright or as a charitable remainder trust.
A gift of real estate is an excellent way of making a substantial donation. You may give the entire property or a fractional interest. Real estate may be donated outright. It may be placed in a Retained Life Estate, allowing you/your spouse to reside there until death, or it may be placed in a charitable remainder trust.
The gift of tangible personal property (artwork, jewelry, furniture, etc.) is also possible. By giving such items during your lifetime or at death, you realize certain tax and estate benefits.
Donating a life insurance policy you no longer need is a generous and convenient way to make a gift. Income tax benefits resulting from this gift may provide for a larger gift than might otherwise be possible.
A charitable gift annuity involves transfer of cash or appreciated securities, held long-term, to CHC. In return, you and/or designee receive regular cash payments for your and/or designee lifetimes. You may also realize additional tax savings. You also receive an immediate tax deduction for part of the amount transferred. The minimum contribution to establish a charitable gift annuity is $5,000. The minimum age for a one-person charitable gift annuity is 40 and for a two-person charitable gift annuity at least one person must be age 50.
A deferred gift annuity is a contract providing for the payment of a fixed cash payment. However, payments do not begin until a date chosen by you. The longer the delay between the creation of the deferred gift annuity and the commencement of payments, the larger the income tax charitable deduction.
A charitable remainder trust allows you to transfer assets into a separately managed trust that provides income for your life and/or the lifetime of designees, or a specific period of years (up to 20 years). At the end of the trust term the remaining assets go to CHC. The minimum investment is $100,000; and the minimum age of a one person income beneficiary is 40 years.
A charitable lead trust holds an income-producing asset in trust for a fixed term or the life of an individual. During this time, income is paid to CHC. At the end of the trust term, the asset is returned to you (grantor lead trust) or to another beneficiary (non-grantor lead trust).
Cathedral Home for Children is pleased to work with you or your financial advisors to provide opportunities for you to make investments of this kind. To learn more, please contact Mary Runner, our Development and Marketing Coordinator, at: (307) 745-8997 or (800) 676-1909 or e-mail at mrunner@cathedralhome.org