Ways to Give
Gift Of Cash
Cash (curreny, check, money orders,
or bank draft) is the most popular form of giving because of its simplicity.
Donors appreciate the tax deduction that gifts of cash provide, reducing
the actual cost of the gift. The preferred method to contribute a gift
of cash is to write a check payable to the Indiana Masonic Home Foundation,
Inc. Checks should be sent to the Indiana Masonic Home Foundation, P.O.
Box 44210. Indianapolis Indiana 46244-0210. Marketable Securities
Marketable Securities
Outright gifts also include
marketable securities, which are listed on an exchange. There are three
financial benefits to the giving of long-term appreciated securities:
- No tax needs to be paid on the gain if the stock
is transferred directly to the foundation.
- The Average fair market value of the securities on
the date of the gift is deductible as an itemized charitable contribution
for federal income tax.
- Gifts of stock qualify for the Indiana tax credit
Real Estate
Certain tax advantages apply
to gifts of long-term appreciated real estate. These gifts typically
provided an immediate income tax deduction and avoidance of capital
gains tax. Other advantages also may apply. Gifts of real estate are
reviewed individually by Foundation staff prior to gift transaction.
Planed or Deferrd Gift
Planned giving opportunities
offer advantages to donors instructed in both current and long-term
tax benefits. Planned gift enables you to make a commitment to support
the Foundation in a manner and at a time that is best for you. Through
a planned gift, many persons who had not expected to have the resources
that they can be provided increased financial security for themselves
and their loved ones.
Bequests
A gift by will either large
or small, is an excellent way to perpetuate your support of the Foundation.
The Foundation may be designated as a recipient or as a contingent beneficiary
of the bequest. Proper designation is: The Indiana Masonic Home Foundation,
Inc., 525 N. Illinois St., P.O. Box 44210, Indianapolis, IN 46244-0210
Life Income Arrangments
Some planned gifts opportunities
can greatly assist the foundation in meeting its needs and objectives
while also production an income for you or your loved ones. These are
life income gifts. All life income gifts allow charitable deductions
on your income tax for the year in which the gift arrangements are made.
Carryover rules apply for an additional five years.
- Charitable Gift Annuities: Our most popular gift!
Establishing a charitable gift annuity with a contribution of cash
or securities to the Foundation will provide you (or the person you
designated with a fixed amount of guaranteed life-time annual income.
The percentage of guaranteed income is based on your and/ or your
spouses age. Charitable gift annuities offer a current income tax
deduction as well as income which is largely tax-free during the life
of the beneficiary(ies). If long term capital gain property or securities
are donated, capital gain taxes are greatly reduced.
- Charitable Remainder Trusts: You may establish a
charitable remainder trust to provide substantial income to you during
your life, during the life of a named beneficiary, or both. Pay out
rates are negotiated with the Foundation. After death(s) of the beneficiary(ies),
the trust assists are transferred to the Foundation and are allocated
for the purpose you designated.
- Pooled Income Fund. The pooled income fund offers
donors many tax advantages: avoidance of taxes on appreciation, an
immediate income tax deduction, and possible reduction of estate taxes
and probate costs. Gifts of $1,00 or more are accepted for the fund.
Contributions to the pooled income fund are invested together. Beneficiaries
receive quarterly income payments based on the earnings of the fund
and their proportionate interest.
Gifts of Life Insurance
When properly arranged, life
insurance offers an attractive way to benefit the Foundation at a relatively
low cost. Life insurance gifts permit you to provide a substantial deferred
gift for younger brethren because of the relatively low premium expense.
Also, the proceeds from the policy are paid promptly to the Foundation,
and this eliminates the delays caused by the estate administration process.
For Maximum tax benefits, gifts of life insurance
should be discussed with the foundation staff before naming or renaming
the Foundation as beneficiary.
Acknowledgment of Gifts
All gifts and commitments to the IMHF receive a written
acknowledgement in accordance with IRS rules and regulations for charitable
gifts to 501©(3).
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