From our beginnings in 1963, we have served a deserving population—but one that is also underserved. While we receive grants and funding to do our work, these sources of income do not cover our operating budget. Like many nonprofit organizations, Skyline Center, Inc. relies on gifts from the public to supplement the lack of funding available for our services.
As we confront this ongoing challenge, we know the generosity of donors like you will make all the difference in our success. Please consider a planned gift. Planned giving, or gift planning, is a charitable gift made in one’s lifetime or given when one’s estate is settled. As such, planning giving is organized with the help of an estate attorney.
Benefits of Planned Giving
Although many people make donations out of a genuine desire to give, tax benefits play an important role. Tax benefits often make it financially feasible for the donor to make a gift.
Charitable remainder trusts and gift annuities, for example, provide the donor with a lifetime income while ultimately benefiting the charity. Furthermore, as exemplified by the gifting of appreciated property, the tax savings benefits the charity as well.
Efficient Use of Money
Planned giving makes use of techniques that maximize the dollar amount that ultimately benefits the charity. For example, the gifting of stock avoids the donor's payment of capital gains taxes, thus leaving more to the charity. However, sometimes it's not possible to gift stock directly to smaller charities, so the donor must employ other charitable vehicles to accomplish such a gift. It may make more sense to give during one’s lifetime instead of waiting until death. On the other hand, you might be able to leave more to a charity over the long run by deciding on a 5% payout rate from a charitable remainder unitrust rather than a 10% payout rate.
Provide a Legacy
Some donors wish to leave an ongoing philanthropic legacy, something that cannot be done with standard checkbook giving.
Types of Planned Gifts
There are many different planned giving vehicles:
Bequest: You designate our organization as the beneficiary of your asset by will, trust or beneficiary designation form.
IRA Rollover: Congress has enacted a permanent IRA charitable rollover. As a result you can make an IRA rollover gift this year and in future years.
Beneficiary Designation Gifts
You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.
Charitable Gift Annuity
You transfer your cash or appreciated property to our organization in exchange for our promise to pay you fixed payments (with rates based on your age) for the rest of your life.
Charitable Remainder Unitrust
You transfer your cash or appreciated property to fund a charitable remainder unitrust. The trust sells your property tax free and provides you with income for life or a term of years.
Charitable Remainder Annuity Trust
You transfer your cash or appreciated property to fund a charitable remainder annuity trust. The trust sells your property tax free and provides you with fixed income for life or a term of years.
Charitable Lead Trust
You fund a trust that makes gifts to us for a number of years. Your family receives the trust remainder at substantial tax savings.
Sale and Unitrust
You give a portion of your property to us to fund a charitable remainder trust, when the property sells you receive cash and income for life.
We purchase your property for less than fair market value. You receive cash and a charitable deduction for the difference between the market value and purchase price.
Give It Twice Trust
You provide your children with a stream of income while making a gift to charity.
Life Estate Reserved
You give your property to our organization but retain the right to use the property during your life.