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Making a planned gift to the Rescue Mission is a special way to receive a double blessing. It allows a donor to take an action now which will provide substantial financial support for the Rescue Mission's future ministry to the homeless and hurting of our community ... and which, in many cases, can simultaneously provide lifetime benefits for themselves or their loved ones.
There are a wide variety of planned giving opportunities which donors may utilize to meet their charitable giving and estate planning needs. Charitable planned gifts can be an important part of any financial or estate plan, and should be made in consultation with a qualified financial planner or estate planning attorney.
Here is a partial list of the types of planned gifts that are available:
Gift Annuities
Donors may invest in a Rescue Mission gift annuity which, depending on their ages,
will pay them an annual return of a fixed percentage of the gift, guaranteed for life, and
much of the income is tax-free!
Bequests
Designating the Rescue Mission as a beneficiary in your will is the simplest form of a
planned gift. It is also a very effective way to provide for future support of the Rescue
Mission. Should you decide to make this type of gift, the correct beneficiary name is
Rescue Mission Alliance of Syracuse, N.Y.
Endowment
An endowment fund provides for a principal amount, which remains intact while the interest
or dividends support the work of the Rescue Mission "forever."
Life Insurance Gifts
Naming the Rescue Mission as beneficiary of a life insurance policy, or buying a policy for the Rescue Mission, is a way to become a major donor at a minimum cost. The premiums
are tax-deductible.
Stock Gifts
The gift of appreciated stock is an excellent opportunity to convert an asset into a charitable gift. No capital gains taxes are incurred on the transfer of appreciated stocks, and the gift may be used not only as an outright gift, but also for a gift annuity, participation in the pooled income fund, an endowment or virtually any other form of planned gift.
Payable on Death (POD) Accounts
The gift that you give and still keep is made possible by
designating the Rescue Mission to receive the balance of your savings, brokerage or other account at the time of death. You retain the right to use all of the funds in the account throughout your lifetime. This designation is fully revocable during your lifetime and is a "no-risk" gift for those who are concerned about unforeseen expenses, but would still like to make a gift.
Charitable Trusts
Donors can place assets into a trust account, which will generate income for them or any beneficiary they designate. These accounts can produce fixed or variable income and may be revocable or permanent depending on donors' wishes. Upon the death of the trust maker and subsequent beneficiary, the money will then benefit the work of the Rescue Mission.
Retirement Account Gifts
If you are planning to give to the Rescue Mission through your will or estate, one of the best assets to give is one that is least valuable to your heirs. Naming the Rescue Mission as the beneficiary of your pension or individual retirement account (IRA) money can eliminate income and estate taxes on that gift.
For more information on how you can make a planned gift to the Rescue Mission, contact Carolyn Henrickson by phone at 315-701-3855 or by e-mail at info@rmsyr.org.
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