A planned gift is arranged by you legally during your lifetime.
The principal benefits accrue to Neighborhood Centers Inc. at a later time, after your death or the death of your last named beneficiary. Planned gifts take many forms, providing additional income for you and/or your heirs, reducing income and estate taxes, relieving you and your heirs of complicated financial management responsibilities and helping to fulfill your personal, humanitarian and charitable objectives. Planned gifts can be made in cash, real estate, stocks, bonds, personal property or life insurance. Please contact your financial advisor regarding various gift types.
Bequests by Will
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting Neighborhood Centers Inc., it serves as an example to your heirs of the values and ideals you hold dear. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
Contributions of life insurance can provide a substantial gift to Neighborhood Centers Inc. The value of an ordinary policy at the time of the gift is tax deductible. If you continue paying the premiums, they also are deductible as charitable contributions. If a paid-up policy is given, the cost of purchasing a new paid-up policy at your current age is the value of the charitable deduction.
An endowment is a perpetual gift that can be designated for a specific location or program. The original gift remains intact, and the income is used toward the designated area of service. An endowment can be established in memory of a loved one or a donation can be added to an existing fund that will contribute to your local community indefinitely.
To begin planning, please work with your attorney or accountant to explain the many gift opportunities available to you and the financial advantages of each. Contact Neighborhood Centers Inc. to learn how confidential, personal financial planning can help you achieve your goals while helping to sustain our life-changing mission.