Many people help themselves and their heirs by listing Good Shepherd Communities Foundation as a beneficiary in their will. How can a bequest benefit my estate? An outright gift to Good Shepherd Communities Foundation from your estate is entirely free from federal estate taxes. This means that Good Shepherd Communities Foundation is able to use the full amount of the bequest, whereas if it were left to an individual, a significant amount might go to federal estate taxes. Also, bequests generally are not subject to state inheritance or estate taxes.
Make a gift in your will using this language: “I, (name), of (city, state, zip) gives, devise and bequeath to Good Shepherd Communities Foundation, 32 Village Drive, Endwell, NY 13760 (written amount or percentage of estate, description of property) for its unrestricted use and purpose (or specify the particular purpose or community you wish to benefit).” Our tax ID: 13-3386383.
Establishing a Good Shepherd Communities Foundation Annuity is an ideal way to accomplish your personal financial goals and support the mission of Good Shepherd. With your gift you will receive annuity income for life as well as an income tax charitable deduction while making a significant difference to Good Shepherd Communities.
You make a one-time contribution in cash or appreciated securities (stocks, bonds, mutual fund shares). In return for this donation, Good Shepherd Communities Foundation pays one or two annuitants an annuity each year for life. Payments can be taken immediately or deferred to a later date.
You are eligible for an immediate income tax charitable deduction for the part of your gift that is considered a contribution. The annuity payments may be partially tax-free during the life expectancy of the annuitant(s). At the end of your lifetime(s), Good Shepherd Communities benefits by retaining the amount that remains from your annuity.
The annual lifetime annuity rate is fixed and determined by your date of birth. Payout rates are defined by the American Council on Gift Annuities. If you are at least 60 years of age payments can begin immediately. If younger, you may qualify for a deferred annuity, with the first payment made after your 60th birthday. The annuity rate increases because of this deferral period.
When you make a gift of appreciated stock to Good Shepherd Communities Foundation, your gains are put to good use and it qualifies for a tax deduction based on the full market value.
By giving stock to Good Shepherd Communities Foundation, you can avoid capital gains taxes that would be due as a result of its sale while benefitting an organization you care about.
The donor's cost basis, which is the original cost of the shares plus any commissions paid on the purchase, transfers to the recipient. Since charities don't pay taxes on donations, there is no tax payable when the shares are sold for a gain.
There are many giving options available and our office will work with you to find a plan that meets your needs and interests. For further information, please contact the Foundation Office at:
Good Shepherd Communities Foundation
32 Village Drive
Endwell, NY 13760
607-757-3100 or email@example.com
The information in this publication is not intended as legal or tax advice. Please consult your legal and tax advisors.