There are many ways to give planned giving including end off year other than cash donations. These include gifts of real estate, stock, life insurance and bequests. All of these offer a variety of tax advantages. For instance, consider the following examples.
We not only receive grants from them, but we also have our own endowment with them. This means that you can donate to Our Mother’s Home through the SWFL Community Foundation. The money will earn interest and most importantly you can ensure that your donation is used wisely. In order for us to access the money, the request must go not only through the Board of Our Mother’s Home, but it must also be approved by the Board of the Community Foundation. The funds must be used to directly benefit the home itself. We chose this endowment because we are a very small community based non-profit organization. In fact we are too small to be listed on charity navigator, a large independent organization that rates nonprofits and too small for larger endowments like United Way.
- Real Estate: if you have owned a second home for some time which has appreciated in value, you could face large capital gains taxes. If it is given to us you avoid the tax and realize a charitable deduction for the full fair market value of the real estate.
- Stock: Giving long-term appreciated stock offers a two-fold savings: you avoid paying any capital gains tax on the increase in value of your stock and you receive a tax deduction for the full fair market value of the stock.
- Bequests: Federal estate tax can still take approximately 50% of one’s estate at the time of death which is bigger than income tax!. You can do advanced planning with your attorney. Please click here to view an example of wording that you may find helpful in your planning. Click Here for a printable form you can take to your attorney to complete.
- Southwest Florida Community Foundation Endowment: Our Mother’s Home has been a long time member of the Southwest Florida Community Foundation. (click here for more information www.floridacommunity.com.
OUR MOTHER’S HOME IS SPONSORED IN PART BY:
Florida Department of Children and Families
Children’s Network of Southwest Florida