There are many ways that friends of Wesley Woods at New Albany choose to make a gift. Careful planning ensures that your objectives are met. The information below provides an overview of some of the most common ways to make a gift and the benefits of each.
All gifts to Wesley Woods at New Albany are tax deductible as allowed by law. The information below is provided for educational purposes only. Personal advisors should be consulted in the planning process.
Contributions of Any Immediate Asset.
Cash or Check
The most common way to make an immediate gift is by giving cash or writing a check. This type of cash gift provides immediate liquidity and flexibility for Wesley Woods at New Albany and generates a charitable income tax deduction for a donor in the year of the gift.
Stocks or Bonds
This option may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.
A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.
"Planned Giving" (also called Deferred Gifts) refers to gifts that, in most cases, benefit Wesley Woods at New Albany at some point in the future, while offering immediate benefits to the donor.
Next to writing a check, perhaps the best-known vehicle for philanthropy is the bequest. A bequest makes it possible for you to make your wishes known today without relinquishing needed assets during your lifetime. Bequests can transfer a specific asset entirely or a percent of the estate after costs and taxes.
Gifts That Generate Income for You
The benefits of planned giving compound when you utilize one of the options below that generate income as well as provide a number of other benefits.
Charitable Gift Annuity
A Charitable Gift Annuity is an example of how a gift generates income for the donor. In addition to the annuity payment, the donor receives a charitable income tax deduction and a portion of each annuity payment may be tax-free.
Deferred Payment Gift Annuity
Annuity payments are delayed for a number of years and offers rates that make it an attractive supplement to retirement income.
Charitable Remainder Trust (CRT)
CRTs are perhaps the most versatile charitable giving tool. With the CRT it is possible to bypass capital gains tax on the sale of highly appreciated assets, generate an increase in income, receive an attractive charitable income tax deduction and fulfill your philanthropic objectives.
Life insurance has many unique attributes that may enhance nearly any comprehensive charitable gift plan.
How the Development Office Can Serve You
The Development Office is here to assist you with your unique financial, estate and gift planning needs. We invite you to meet with us, without obligation, to discuss how we may help. If you have questions or need additional information, please contact the Wesley Woods Development Office at firstname.lastname@example.org. We look forward to talking with you!