Ways to Give
Planned giving to the Youth Haven Foundation is a way in which child advocates in the community can preserve Youth Haven’s future and ensure that their frontline approaches and real solutions to protecting innocent children and strengthening families continue without end.
A planned gift is a gift that is arranged now and fulfilled later. For example, a person might make a provision in his or her will to make a bequest to the Youth Haven Foundation at his or her death. There are many easy giving options that allow a gift planner to tailor a charitable giving plan. A carefully planned charitable gift may provide immediate and future benefits to both the donor and Youth Haven. It can increase income, protect assets and reduce taxes, now as well as in the future.
A gift to the Youth Haven Foundation would create a legacy for generations of children and families who will benefit greatly from their experiences at Youth Haven.
The following are some examples of planned gifts which a donor may consider. Before deciding on which vehicle is best for you and your family, we ask that you consult personally with your estate planning attorney and/or financial advisor.
Bequests. When a donor decides to leave assets to a charity in his or her will or living trust, he or she is making a bequest. The donor’s estate receives a charitable estate tax deduction at his or her death, when the gift is actually made to the charity, such as the Youth Haven Foundation.
A Charitable Giving Annuity is a contract between the donor and a charity, such as the Youth Haven Foundation. In return for the donation of cash or other assets, the Youth Haven Foundation agrees to provide a guaranteed fixed income to the donor. The donor can claim an immediate tax deduction equal to the Foundation’s remainder interest in the gift, and favorable tax treatment of the annuity payments. If the donor funds a gift annuity with long term capital gains property, the donor will have to report only some of the gain, and may be able to report it in installments over many years.
A Deferred Payment Charitable Gift Annuity is a charitable gift annuity where the income from the gift annuity is deferred for a number of years. This is often used by younger donors to supplement retirement income.
A Charitable Remainder Trust is a trust which provides for making payments either in a fixed amount (Charitable Remainder Annuity Trust) or a percentage of trust principal (Charitable Remainder Unitrust) to whomever the donor chooses to receive the income. The donor receives an immediate charitable income tax deduction based upon the current value of the Youth Haven’s Foundation’s remainder interest in the gift. All capital gains tax liability is avoided on gifted, appreciated property that is sold and there is typically no gift or estate tax liability on the trust. Two or more beneficiaries are allowed and the trust can allow for deferred income if desired. At the end of the trust term, the Youth Haven Foundation would receive whatever amount is left in the trust. Charitable Remainder Unitrusts may provide some flexibility in the making of distributions, and thus may be very helpful in retirement planning.
A Charitable Lead Trust makes periodic payments, either a fixed amount (Annuity Trust) or a percentage of trust principal (Unitrust) to a charity such as the Youth Haven Foundation. At the end of the trust term, the principal can either go back to the donor (Grantor Lead Trust) or to heirs named by the donor (Non-Grantor Lead Trust). The donor may claim a charitable income tax deduction for funding a grantor lead trust or a charitable gift tax deduction for funding a non-grantor lead trust.
Retained Life Estate. A donor may make a gift of his or her personal residence or farm to a charity, such as the Youth Haven Foundation, and retain the right to live there for the remainder of his or her life. The donor receives an immediate charitable income tax deduction for the gift. At the donor’s death, the charity can use or sell the property.
Qualified Retirement Plans are subject to ordinary income tax when withdrawn and estate tax at death (assuming the estate tax is not then repealed). More of your IRA may go to the government than to you and your family. You may, for example, make contributions out of your IRA to a charity such as the Youth Haven Foundation. The distribution from the IRA would be reported as taxable income, with the donor then taking a charitable deduction for the amount of the gift, subject to any applicable limitations on deductions. If the Youth Haven Foundation is designated as beneficiary of your IRA at death, no taxable income or estate tax would be reported in connection with the IRA.
Insurance Policies, which are either fully paid or where the Youth Haven Foundation is made the owner and beneficiary, provide an immediate income tax deduction for the value of the policy at the time of the transfer.
We welcome the opportunity to work with you and your estate planning attorney and/or financial advisor in exploring the best planned giving options for you and your family. To answer questions or to assist in your planning, please contact Jamie Gregor in Youth Haven's Development Office or call (239) 687-5153.
If you have already included the Youth Haven Foundation in a bequest or other planned gift, please let us know, so that your generosity may help us inspire others. We understand and respect those friends who wish to remain anonymous, but do encourage you to notify us of your plans on a confidential basis.
