Making a future impact

You can support New Hope Community with gifts that don’t impact the way you live by either designating NHC Foundation Inc. to receive assets in the future or by making immediate gifts to us of assets that are “out of sight and out of mind.”

The benefits of Planned Giving include:

  • You can make a gift that costs you nothing during your lifetime.
  • You can make a gift that leaves your cash flow and current financial planning unchanged.
  • You don’t have to use cash to make your gift. You can “buy low and give high” by making your gift with appreciated securities instead.

Gift from your will or trust

Including NHC Foundation in your will or trust is a meaningful way to help us continue to serve individuals with intellectual and other developmental disabilities.

When giving from your will or trust…

  • Leave a specific dollar amount or asset to the NHC Foundation.
  • Designate a percentage of your estate to be given through your will or living trust.
  • Give only the remainder, or residue of your estate, or that which remains after bequests to loved ones have been made.

An example of suggested language to include in your will/trust:

“I give to NHC Foundation, Inc., a New York charitable not-for-profit corporation, the sum of _____ ($____), to be used for its general purposes [or describe a specific purpose].”

Gift from a retirement plan

Retirement assets are one of the most beneficial gifts you can give to the NHC Foundation. With the innovative use of these assets, you are able to contribute generously to the NHC Foundation as well as provide for your loved ones. Many taxes on these plans can be avoided or reduced through a carefully planned charitable gift.

Making an outright gift through beneficiary designation

You can name the NHC Foundation Inc. as the beneficiary or contingent beneficiary of your IRA, 401(k), or other qualified retirement plan after your lifetime. When a retirement account is left to a charity, the organization does not pay any income tax whereas your heirs may pay income tax if they inherit your retirement funds. Pass the balance of your retirement assets to the NHC Foundation by contacting your plan administrator.

Charitable remainder trust after a donor’s lifetime

You can name a trust as the ultimate beneficiary of excess or unused retirement assets. After your lifetime, the trust can provide income to heirs for a period of years, after which time the trust monies can fund charitable endeavors. Since it is a charitable trust, there is more money available to generate income for heirs.

Make a “tax-free” gift through your IRA

IRA Charitable Rollover is Now Permanent. The provision allows individuals age 70½ or older to make tax-free gifts totaling up to $100,000 from a traditional IRA account directly to qualified charities, like NHC Foundation, provided they are completed by December 31.

If your spouse has IRA accounts, you may each make gifts of up to $100,000 from these accounts. While you cannot claim a charitable deduction for IRA gifts, the distribution counts towards your minimum required distribution and does NOT trigger income tax for you. Unlike previous years, this extension of the IRA Charitable Rollover has no sunset clause, meaning you can take advantage of this giving opportunity again in 2016 and beyond.

In order to complete an IRA Charitable Rollover, please contact your IRA provider for exact instructions.

Gifts of life insurance

Life insurance is often overlooked as an asset that you can use to make gifts. Make a significant gift to the NHC Foundation even without a large estate. Here’s how you can leverage your dollars for a larger gift.

Add a beneficiary to your policy

It is relatively simple to make a change to the beneficiary/beneficiaries of your insurance policy without changing your will or other aspects of your estate plan. Just ask your insurance company for a form that will allow you to make the NHC Foundation Inc. a beneficiary of your insurance policy.

Give a paid-up policy

You can transfer ownership of a paid-up life insurance policy to the NHC Foundation Inc. After the transfer, the NHC Foundation can elect to either cash in the policy right away or keep the policy and receive the death benefit later. You would receive an immediate income tax deduction for either the cash surrender value or the basis (usually the cost), whichever is less.

Make the NHC Foundation the owner and beneficiary

You can take out a policy and make the NHC Foundation Inc. the owner and beneficiary of the policy. Premium payments can be made by you directly to the insurance company or by the NHC Foundation, by way of your annual gift to the organization. Whichever way the premiums are paid, you can take an income tax deduction.

The material presented in this website is intended as general educational information on the topics discussed herein and should not be interpreted as legal, financial or tax advice. Please seek the specific advice of your tax advisor, attorney, and/or financial planner to discuss the application of these topics to your individual situation.

Gifts of stock and appreciated assets

You can take advantage of appreciated securities and transfer stocks, bonds, or mutual fund shares you have owned for more than one year to the NHC Foundation Inc. without incurring capital gains tax.

When giving stock and appreciated assets

Giving appreciated stock can be more beneficial than giving cash. The “cost” of your gift is often less than the deduction you gain by making it.

Prior to transfer, please call 845-434-8300 x244 to obtain appropriate account numbers and to advise the name of the stock and number of shares to be transferred.

The material presented in this website is intended as general educational information on the topics discussed herein and should not be interpreted as legal, financial or tax advice. Please seek the specific advice of your tax advisor, attorney, and/or financial planner to discuss the application of these topics to your individual situation.