You Can Help Support the Mission of Friends House.
All gifts, large and small, are welcome and help Friends House serve elders aged 60 and older. Donors help with operational expenses and specific programs and services, especially capital projects and financial support for residents. We accept memorial and tribute gifts, and gifts commemorating birthdays, anniversaries, and other occasions. We are grateful for all donations. Visit this link to make a Donation Online.
We established the Friends House Planned Giving Program to have vehicles for donors to assist Friends House and help themselves at the same time. Donated funds provide financial stability for Friends House, provide subsidies for those in need, funding for capital development, or general endowment funding. Some planned gifts offer donors the opportunity to derive income from their gifts during their lifetime and to have income tax advantages as well. All planned gifts are invested in socially responsible ways.
If you are interested in investing in the future of Friends House and would like to help elders make it their home regardless of their resources, we would like to work with you to develop a plan that would meet your financial needs.
Here are some ways to make a planned gift to Friends House:
This is the designation of a gift to Friends House in a last will and testament. Bequests qualify for the unlimited estate tax charitable deduction.
Charitable Gift Annuity
A charitable gift annuity provides a fixed lifetime income payment to the donor(s) or to one or two life income beneficiaries that the donor(s) may designate. In addition, the donor(s) will receive Federal income tax benefits. Charitable annuity rates are tied directly to the age of the annuitants at the time the gift is made. They older the annuitant is at the time of the gift, the higher the rate. Upon the death of the annuitant, or the last income beneficiary, the balance in the account will be given to Friends House.
Deferred Payment Gift Annuity
A deferred charitable gift annuity provides for a fixed lifetime income in the same way as an immediate gift annuity except that the donor defers the beginning of payments for a stated number of years. The donor can receive an immediate income tax deduction, while deferring the income payments until his/her retirement. Deferred annuities entitle the donor to a higher rate annuity payment. In the interim period, the gift accumulates under professional investment management.
Charitable Remainder Trusts
For gifts of $250,000 or more, a charitable remainder trust could be considered. Charitable remainder trusts provide a fixed or variable annual income depending on the type of trust. The payout rate is determined jointly by the donor and the administrator of the trust. Upon the death of the last income beneficiary, the balance of the trust’s assets will be given to Friends House.
Pooled Income Fund
Contributions are pooled with those of other donors in a common fund and investment income is distributed proportionally to all. It provides a charitable tax deduction the year the gift is made.
Charitable Lead Trust
This is especially recommended for donors with large estates who are interested in giving to Friends House and in transferring assets to family for little or no gift tax.
This is a gift of a home, farm or vacation property to Friends House. The donor maintains full use of the property for his or her lifetime and receives an income tax deduction the year the gift is made.
This type of gift is appropriate for a donor who has an insurance policy he/she wishes to donate. The tax deduction is determined by the policy’s value and whether the donor must still pay the premiums.
We appreciate knowing of a pending gift, but if you are planning to designate a gift for a particular use or if you are bequeathing real or personal property, be sure to advise Friends House of your intent. The FASE Board of Directors must approve all such gifts to Friends House.
Visit this link to make a Donation Online.