Make a Charitable Gift
Making a gift to charity is an important tradition for many people. Making gifts for the benefit of others offers a wonderful way to affirm your values and priorities and make a difference in the lives of others. There are many ways to support The INN through charitable giving while also helping you attain your personal and financial goals.
Outright gifts to The INN, such as cash, stock and property can lower your income tax liability. Outright gifts allow us to put your philanthropy to work immediately. Planned or deferred gifts will help benefit The INN in the future. You can designate a specific purpose for your gift or make your gift unrestricted so that your gift may be used where the immediate need is the greatest.
A gift of cash is the most common way of making a gift and showing your support for The INN. Gifts of cash may be made by check or credit card. Many employers offer a corporate gift-matching program. This type of program would allow you, as a participant in the matching program, to designate The INN to receive your employer’s matching contribution. Please contact your company’s personnel department to find out if your employer offers a gift-matching program.
Gifts of Appreciated Securities
Many donors choose to make gifts to The INN in the form of publicly traded securities. Substantial tax benefits are realized by transferring appreciated securities held long-term (owned by the donor more than one year before the gift) to The INN.
By making such a gift, the donor is entitled to a Federal income tax deduction for the full fair market value of the security, subject to applicable limitations. By making a gift of the security itself instead of selling it and contributing the proceeds of sale, the donor avoids the capital gains tax liability.
Honorary or Memorial Gifts
Honorary gifts recognize special individuals, anniversaries or events. Memorial gifts recognize the lifetime achievements of individuals who have passed away. Honorary or memorial gifts can be unrestricted in their use or designated to a particular program or facility maintained by The INN.
All such gifts are acknowledged with a card sent to the honoree or to the family of the person being memorialized.
Many donors have a desire to pledge a portion of their personal estates to The INN as an expression of their dedication to the mission of The INN which they supported during their lifetimes. Charitable bequests to The INN may be general bequests for the immediate needs of The INN or may be directed to be added to the endowment funds of The INN to provide for the future needs of those who we serve.
Be a Sustaining INNsider
Your gifts play a vital role in the daily service to every guest. Please consider becoming a Sustainable INNsider. Become a “donor by the month” at any amount that works for you, for at least one year. Help us sustain the momentum of what it takes to offer dignity, respect and love every day, for every guest. Click here for more information on becoming a Sustainable INNsider today!
Gifts of Life Insurance
Some donors find that a gift of life insurance can be an ideal and cost effective way to make a gift now that will have a greater impact on The INN in the future. For example, The INN could be named one of the beneficiaries under an existing life insurance policy. Although the owner of the policy would not receive a tax deduction for the beneficiary designation, The INN would still benefit from the proceeds of the policy upon the death of the policy holder.
A charitable deduction for a gift of life insurance can only occur when The INN is named as the owner of the policy along with being designated an irrevocable beneficiary.
For more information on how to make a charitable gift, contact Dorian Stern, Chief Development Officer at (516) 486-8506 ext.106 or email@example.com
The preceding information is provided for general information only and is not to be considered legal or tax planning advice. The INN strongly recommends that you contact your legal or tax advisors before making any charitable gift to The INN.