Planned giving is a method that allows you to make maximum use of charitable donations. It often enables you to make a gift initially thought to be beyond your means. Depending on your individual circumstances, gift planning may also involve state and federal tax advantages.
The Benefits of a Planned Gift
- Increase current income for the donor or others
- Reduce the donor's income tax
- Avoid capital gains tax
- Pass assets to family at a reduced tax cost
- Make significant donations to charity
What You Can Do To Promote Planned Giving
- Prepare or update your will.
- Leave a gift in your will to New Hope Ministires.
- Name New Hope Ministries as a beneficiary of your pension plan, IRA, or 401K-retirement plan.
- Name New Hope Ministries as the owner and/or beneficiary of a new or existing life insurance policy.
- Remember loved ones with memorial and tribute gifts to New Hope.
- Encourage family and friends to leave gifts to New Hope and other charities in their wills.
- Ask your accountant, attorney and other professional advisors to include charitable giving as part of their counsel to clients.
Jeremiah 29:11 Legacy Society
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future."
The Jeremiah 29:11 Legacy Society is New Hope's legacy society comprising of individuals who have created a living legacy by remembering New Hope Ministries with a planned gift. By remembering New Hope in your estate plans today, you are ensuring that our neighbors in need will continue to be able to turn to New Hope for help in the future.
If you have already made provisions for a planned gift, or if you are interested in making a planned gift to New Hope, please contact our Director of Development at (717) 432-2087 or development@nhm-pa.net.
Planned Giving Terms to Learn
Bequest: A transfer, by will, of property such as cash, securities (stocks), or tangible property to an individual or a charitable organization.
Charitable Lead Trusts: Creates substantial charitable deductions, provides income for the charitable organization to use temporarily and recuperates the principal for the donor or family member in a specified number of years.
Marketable Securities: Donating shares of stock or appreciated securities (stocks, mutual funds, etc) offers many tax benefits to the donor when the donor transfers ownership to a charitable organization.
Life Insurance: Life insurance can be a valuable gift because it is leveraged, meaning that a small amount of money (premium) produces a large death benefit. Thus, the donor is credited for a much larger amount than the actual donation (premium).
Retirement Funds: Designate a charity as the beneficiary of a company pension or profit-sharing plan or a private fund such as an IRA, 401(k) or other qualified pension plan.
Real Estate: By making a gift of real estate, the donor may reduce a sizeable capital gains tax and at the same time receive a charitable deduction for the full fair market value of the property.
PLEASE NOTE: This information is prepared for the information of friends and donors of New Hope Ministries. Its purpose is to offer helpful tax and financial planning information. Donors should consult with their professional advisor as to the applicability of any ideas to their own situation. |
