Making a gift to charity is an important tradition for many people. Making gifts for the benefit of others offers a wonderful way to leave a lasting legacy and support those most in need, those for whom a meal and safe place to sleep is not guaranteed. Ways to make a planned gift 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.
There are many roads that may lead a donor to The INN.
Dr. Andrew Grimes has donated to The INN every year since 1995. He remembers why he first donated — “I first donated when I searched for a charity consistent with the gospel. The INN provided exactly what I searched for. I have subsequently visited their facilities. This has reinforced my decision. They will remain on the top of my list.”
“I am happy that I can use my IRA directly to make donations to The INN. I want my gifts to stay close to home and benefit those most in need. Giving to The INN fulfills this wish, and I know that The INN uses my donation to make other lives a little better.”
QUALIFIED CHARITABLE DISTRIBUTION – IRA ROLLOVER
It is easier than you think to make a qualified charitable distribution, It can lower your taxes form your IRA withdrawals and satisfy your IRA required minimum distribution (RMD).
Check with your financial advisor or you can contact The INN to find out more. Your IRA administrator must make the distribution directly to the charity, or you may write a check payable to the charity from your IRA checkbook – see attached form to send to your broker.
SECURITIES – (Stocks or Bonds)/Other Assets
Many donors choose to make gifts to The INN in the form of publicly traded securities. Using assets that have a appreciated is a great way
Making a donation using appreciated assets is good you and The INN. You receive an income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
You pay no capital gains tax on the transfer when the asset is transferred to The INN
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.
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.
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.
Many donors find wiring funds directly to The INN to be most convenient. Funds can be used for the immediate needs of The INN, or may be directed towards a specific program at The INN.