Planned Giving:
Planned gifts create opportunities for both North Coast Community Homes and our donors. Determining what gift will meet your financial, tax and estate planning, family benefits and charity support objectives is where North Coast Community Homes can help you.
Ways to Give
Gifts of Appreciated Securities -- stocks, bonds or mutual funds held for more than one year. Owners of appreciated assets can obtain substantial tax benefits by transferring those assets directly to North Coast Community Homes. Donors will receive an income tax deduction equal to the fair market value of the stock on the effective date of the gift, and they will avoid having to pay capital gains taxes on the appreciated value of the stock.
Real Estate gifts will entitle the owner of the property to an income tax deduction based on the appraised value of the property. North Coast Community Homes reserves the right to carefully examine each piece of real estate prior to its acceptance as a gift in order to reduce the possibility of liability issues related to the property.
Bequests to North Coast Community Homes can be made in the form of a specific gift of cash or property or as a percentage of the remainder of an estate in your will or trust. North Coast Community Homes may be named as the primary or secondary beneficiary in a will, providing donors the opportunity to provide for their heirs first and North Coast Community Homes second.
Life Insurance gifts can be made in one of three ways: 1. you may donate a fully paid-up policy, naming North Coast Community Homes irrevocable owner and beneficiary; 2. you may donate a policy on which premiums are still owed, naming North Coast Community Homes irrevocable owner and beneficiary; 3. you may purchase a new policy and name North Coast Community Homes irrevocable owner and beneficiary. Each option offers different tax benefits.
Gifts of Retirement Assets can be made by naming North Coast Community Homes as the primary or secondary beneficiary of a retirement plan, i.e. IRA, 401k, Keogh, or other qualified plan. Donors can reduce or eliminate income and estate taxes and increase the amounts passing to their heirs through this type of planned gift.
Charitable Gift Annuity is a contract between North Coast Community Homes and a donor, providing for the payment of life income at a fixed rate. The pay-out rate increases with the age of the beneficiary(ies). The donor receives an income tax deduction in the year of the gift and a portion of each payment is treated as tax-free income. A gift annuity may be established with a low minimum gift of $10,000, making it an affordable option for many donors. With a deferred gift annuity, income payments do not begin until a future date, chosen by the donor. The longer the delay between the creation of the deferred gift annuity and the commencement of payments, the larger the income tax charitable deduction.
Pooled Income Fund operates like a mutual fund. Your gift of cash or securities is pooled with those of other donors and invested. The primary objective of the investment is to generate income and the secondary objective is capital growth. All of the fund’s net income is paid out to the beneficiaries (North Coast Community Homes being one of the beneficiaries) in proportion to each donor’s share of the Fund’s principal. The rate of return of the pooled income fund varies from quarter to quarter, depending on the earnings of the fund. All income paid from a pooled income fund is taxed as ordinary income to the beneficiary(ies). Donors who contribute marketable appreciated securities to the pooled income fund will avoid capital gains tax on the transfer.
Charitable Remainder Trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust) to whomever the donor chooses to receive income. The donor may claim a charitable income tax deduction and may not have to pay any capital gains tax if the gift is of appreciated property. At the end of the trust term, North Coast Community Homes receives whatever amount is left in the trust. Charitable Remainder unitrusts provide some flexibility in the distribution of income and can therefore be helpful in retirement planning.
Charitable Lead Trust enables a donor to support North Coast Community Homes now while preserving a large portion of his/her estate and passing the assets tax-free to him/herself or his/her heirs. The trust holds income-producing assets for a fixed period of time (which can be the donor’s lifetime), during which income is paid to North Coast Community Homes. At the end of the trust term, the assets are returned to the donor and/or his/her beneficiaries.
The information given above is not intended for legal or financial advice. For professional advice, please consult an attorney or financial counselor of your choice. If you do not know who to contact for this advice, North Coast Community Homes can provide a list of possible contacts.
Donor Spotlight
North Coast Community Homes has received from Craig Lewis, former tenant of NCCH, an unrestricted legacy, given in appreciation and recognition of the work of NCCH and from David Jones, former NCCH trustee, a restricted legacy for the building of a new home for his son, Brady, an NCCH tenant.
 Craig Lewis, at left, with his parents, Marjorie and Carl |
 David Jones |
For Additional Information On Planned Gifts
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