WAYS TO GIVE
Thank you for considering Saint Francis Home in your charitable gift plans.
We encourage you to discuss with your financial advisor the many ways of giving. Our nation’s tax laws intentionally encourage charitable giving and there are numerous ways to make a lasting and permanent difference for an organization such as Saint Francis Home and at the same time protect your loved ones and heirs.
Giving is, of course, much more than tax brackets and charitable deductions. Your gifts provide the meaningful difference in what we do. The following are some of the most popular ways to give:
- Gifts of cash - Gifts of cash are the most common and often the simplest to make. Checks should be made payable to Saint Francis Home. Gifts may be undesignated, designated or restricted. Undesignated gifts provide the Board with maximum flexibility in meeting the most urgent needs of Saint Francis Home.
- Gifts of securities - Gifts of appreciated stocks, bonds or mutual funds can provide special tax advantages. These include a charitable deduction for the full fair market value of the gift and avoidance of capital gains taxes. The simplest and most efficient way to make a gift of any security is to instruct your broker or banker to transfer the stock to Saint Francis Home. Our DTC number is 0702. You or your broker may contact Jack Muldowney of Scott & Stringfellow at (804) 643-1811. You may also mail unsigned stock certificates to Saint Francis Home. For specific instructions, just give us a call.
- Memorial or tribute gifts - Any gift may be designated in memory or honor of a friend or loved one. The family of the deceased, or person honored, will be notified of your tribute. The amount of the gift is not mentioned.
- Gifts of real estate - Gifts of homes, farms, and other real property can receive the same tax treatment as gifts of appreciated securities. We encourage real estate gifts that are not subject to liens or restrictions that may affect its market value. Gifts of real estate are reviewed on a case by case basis by the Board of Saint Francis Home.
- Gifts-in-kind - Another way to support Saint Francis Home is through gifts of tangible personal property. When a gift relates to the charitable purpose of Saint Francis Home, the donor may be eligible for a deduction of the full fair market value. Gifts-in-kind of personal property will be reviewed on a case by case basis. Saint Francis Home does not accept gifts that fall under the IRS definition described in IRS publication 4303, which includes automobiles, airplanes, motor homes, boats, etc.
- Corporate matching gifts - You may be able to multiply the value of your gift by participating in a matching gift program provided through an employer or board membership. Gifts from retirees and spouses may also qualify for a match.
Planned or Deferred Gifts
- Bequests by will or living trust - The most common form of deferred or planned gift support to any charitable organization is a charitable bequest. A will or living trust is a very personal matter and should be prepared with your attorney. The following language may be helpful in how a bequest should be worded: I give, devise and bequeath to Saint Francis Home a charitable corporation located in Richmond, Virginia ____________ percent of my estate (or $ ______ or other personal or real property appropriately described) to be used for (specified use or unrestricted)
- Life income gifts - Numerous tax and financial benefits may be realized with a life income gift such as a charitable gift annuity or charitable remainder trust. The donor makes an irrevocable gift of cash, securities or property and receives income for him or herself (may include another beneficiary, such as a spouse) for either life or a specified term of years. When the specified period ends, the remainder goes to support the work of Saint Francis Home.
- Gifts of life insurance - You may want to consider naming Saint Francis Home as beneficiary of a permanent life insurance policy (whole, variable or universal). If Saint Francis Home is named both the sole owner and the beneficiary, the contributor is eligible to receive an immediate charitable deduction. Additional premiums paid may also be tax deductible.
- Retirement plans - Designation of Saint Francis Home as primary or contingent beneficiary of a private pension fund (e.g. IRA, SEP, 401 (k), profit sharing plan) can result in the most tax-wise testamentary gift possible. This is because retirement accounts are subject to taxes that other estate assets may avoid. Simply designate the Saint Francis Home as beneficiary on your plans beneficiary designation form.
- Retained life estate - You may generate a current income tax deduction by giving a home or farm to Saint Francis Home while retaining the right to occupy, rent or otherwise use the property during your lifetime. The property will also be removed from your taxable estate.
These are just a few of the many ways to give. You should carefully discuss with your own advisor your intention to charitably support Saint Francis Home. All gifts of every amount and each form are important. We express our profound appreciation to every donor who includes Saint Francis Home in their personal philanthropic priorities.