Generosity in Action

Gifts designated to Westminster Place at Parkesburg will be used to fulfill the Presbyterian Senior Living mission.

Pledges

You can spread your gift over a period of years by making a pledge.  This type of gift often allows you to make a more generous gift than originally considered.  Pledges may be fulfilled by any of the methods explained below.  Pledge reminders are sent as you request.  Pledges are recognized just as any other gift – at full face value.

Cash Gifts

Cash gifts, via checks, are the most popular type of gift received by Presbyterian Senior Living and can be put to good use immediately.  Outright gifts of cash are income tax deductible for their full value as a charitable contribution up to 50% of your adjusted cash income.  Any deduction not fully used within a given year may be carried over for up to five additional years.

Stocks and Bonds

If you choose to transfer securities (stocks or bonds) to Presbyterian Senior Living or any of its subsidiaries, you bypass capital gains while making a gift worth the full value of the transferred securities.  The full value of such securities is deductible up to 30% of your adjusted gross income.  Any excess charitable deduction can be carried over for an additional five years.  Please contact us for specific transfer instructions.

Charitable Gift Annuities

Establishing a charitable gift annuity allows you to receive immediate or deferred income from your gift.  A gift annuity is a simple, contractual agreement between you and Presbyterian Senior Living in which you transfer assets (cash, appreciated securities, etc. . .) to us in exchange for our promise to pay you or you and another individual for life.  This type of gift can be quite attractive due to its potentially higher rate of return and immediate income tax deduction.

By donating through a charitable gift annuity, you:  (1) contract for a fixed payment for yourself or yourself and another individual, if you choose, and (2) make a gift to Presbyterian Senior Living or one of its subsidiaries.  If you itemize deductions on your tax return, savings from the charitable deduction reduces the net cost of the gift.  Age and gift minimums apply with this type of gift.

A new option may provide the opportunity to create a Commuted Payment Gift Annuity ("college or tuition" gift annuity).  The annuitant is typically the donor’s child or grandchild, who is expected -- but not required -- to use the commuted payments to pay tuition. As a result, payments are usually commuted to 4-5 years of payments. The donor receives an income tax deduction for the difference between the amount transferred and the value of the annuity, subject to IRS 30%/50% limitations.

Bequests

A bequest in your will gives you a way to impact the future of Presbyterian Senior Living and its subsidiaries without giving up control of your current assets.  Tax-wise, a bequest gives you the advantage of removing an asset from your estate before determining estate taxes.  Proper wording and examples can be provided to you.

Retirement Accounts

Designating a beneficiary for a tax deferred retirement plan such as an IRA is an important estate planning strategy.  If you designated any individual other than your spouse, your beneficiaries are at risk of losing up to 70% of your account to estate and income taxes.  However, if you choose to designate all or a portion of your IRA to Presbyterian Senior Living or one of its subsidiaries, that portion will have no tax liability.  In other words, 100% of your gift will go to us tax-free.

And, during 2009 under the extension of the IRA Rollover provision, if you are 70 ½ or older you can make a gift to Presbyterian Senior Living using funds transferred from your IRA – without paying taxes on your distributions.  Your gift can be accomplished simply and will result in your ability to maximize the benefit of your IRA dollars and see them in action during your lifetime.  Charitable distributions will count toward minimum required distributions.  You may transfer up to $100,000 per year directly from your IRA.

Life Insurance

Giving life insurance can be a simple way to make a substantial gift.  There are three options:

• Presbyterian Senior Living can be named as the beneficiary of a policy you currently own.  This will provide a significant gift upon your passing while potentially reducing estate taxes.
• Presbyterian Senior Living can be named as the owner and beneficiary of a policy you are currently paying on.  The policy’s value and your annual payments may be tax deductible.
• Presbyterian Senior Living can be named as the owner and beneficiary of a policy that is paid in full.  This irrevocable gift entitles you to a significant charitable tax deduction.

To Learn More

Our Mission Support Staff is available to answer any questions and provide projected illustrations for your specific situation, in confidence and with no obligation.  Please contact us at (800) 382-1385 or (717) 502-8840 to discuss any of the arrangements above.

This information is not intended as legal, tax or investment advice. For such advice, please consult your attorney, tax professional or investment professional.