Ways to Give
Below is just a sample of the many planned giving options available to you. We encourage you to discuss these options with your financial advisor.
Bequests
After you have provided for your family and loved ones in your will, a bequest would enable you to offer a gift of support to The Domestic Violence Shelter. An example of language that you could use is, “I give and bequeath to The Domestic Violence Shelter, Inc. (the sum of $___ or _%) to support its exempt purposes (or insert name of the designated program).”
Life Insurance
You can make a gift of your paid-up life insurance policy or you could purchase a new policy and name The Domestic Violence Shelter as the owner and beneficiary. With a gift of a paid-up life insurance policy, you can deduct the cash value of the policy at the time of the gift. If there are premium payments that remain to be paid, you could make annual gifts to the organization to help cover the cost of the premium, which would also be tax-deductible to you.
Retirement Plan Assets
As with a life insurance gift, naming The Domestic Violence Shelter as a beneficiary designation can offer you significant value. Due to applicable estate and income taxes, family members usually only receive 25 to 30 percent of the value of an IRA or retirement plan. Much of this tax can be avoided if the assets are instead used to fund a bequest to The Domestic Violence Shelter.
Deferred or Life Income Gifts
Gift Annuity – A charitable gift annuity (CGA) is a simple agreement in which we promise to pay you, or you and your spouse, a lifetime income in exchange for a gift of an asset. The payment is fixed at the time you establish the gift and can be paid to you in monthly, quarterly, semi-annual, or annual payments.
Charitable Remainder Trusts
A charitable remainder trust (CRT) is generally used when there are multiple beneficiaries. A CRT can provide income to you, you and your spouse, or your
spouse and your children for life or for a term of years, in exchange for a gift. The payment can be fixed (annuity trust) or variable, based on the year-end market value of the trust (unitrust).
Retained Life Estate
A retained life estate is a gift plan that allows you to donate a home to The Domestic Violence Shelter while retaining the right to live in the home for the rest of your
life. A gift to The Domestic Violence Shelter of the remainder interest in a personal residence provides you with a current charitable deduction and may allow reduction or elimination of capital gains tax on the property’s appreciation. You retain the right to live on the property, but continue to be responsible for all routine expenses, maintenance fees, insurance, property taxes, repairs, etc.
Contact
For more information on making a planned gift to The Domestic Violence Shelter, please contact:
Colleen Rice
Executive Director