LEAVE A LEGACY – SIX OPTIONS FOR PLANNED GIVING
The decision to give to the center is a way to continue giving and supporting the Wesley Community Center now and into the future. A planned gift is arranged by you legally during your lifetime. 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.
"For the Lord is good and his love endures forever; his faithfulness continues through all generations." Psalm 100:5
1. Gifts of Cash
Simplicity and ease of giving are the reasons that cash is the most popular type of giving. A gift of cash is considered given on the date it is made to the fund.
2. Gifts of Security
A gift of long-term securities generally results in several federal tax benefits. You are entitled to an income tax deduction for the full market value of the securities as of the date of your gift. You are not liable for the capital gains tax you would incur if you sold the securities.
3. A Gift of Property
Real property in any location may be given to the foundation, provided it meets certain criteria. If the property is owned one year or longer, the fair market value is deductible, no capital gains taxes are payable on appreciation and the property is removed from your taxable estate. Donations of a personal residence, ranch or farm are welcome and you can retain use of them throughout your lifetime.
4. 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 Wesley Community Center, 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.
5. Life Insurance
Contributions of life insurance can provide a substantial gift to Wesley Community Center. 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.
6. Named Endowment
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.
If you have questions or to begin your Planned Giving process, please work with your attorney or accountant to explain the many gift opportunities available to you and the financial advantages of each. To learn how confidential, personal financial planning can help you achieve your goals while helping to sustain our life-changing mission, contact Wesley Community Center at the number below.
Wesley Community Center
1410 Lee Street Houston
"Do all the good you can, in all the ways you can, as long as you can." –John Wesley