What to Know
We are pleased that you have an interest in learning about the many benefits of gift plans.
Planning a gift is more than just finding a need. There are a lot of factors to consider. If you are not familiar with the concepts and strategies of charitable gift planning, you might want to take a moment to consider some of the factors in planning for the future. And check out our chart briefly describing some of the charitable means that are available to you.
Other Ways to Give:
- Life Insurance
- Charitable Gift Annuity
- Charitable Remainder Trust
- Will or Living Trust
- Real Estate
- Retirement Assets
- Publicly Traded Securities
- Closely Held Stock
- Qualified Charitable Distributions from IRA
- Crops/Farm Equipment
- Limited or General Partnerships/LLC’s
Gifts should be made to Open Door Mission, a Nebraska non-profit corporation.
Factors in Planning
One very important aspect of planning for the future is to take time to consider your overall financial and estate plans. Many people never get around to making a will or other estate plan, for example, and that’s a real shame because so many good things can come out of the planning process — not the least of which is your own peace of mind.
If you are ready to consider making or reviewing your estate plan, consider using the four “P’s” as a simple guide. Before going to visit your attorney and/or other professional advisor, take time to list the following:
Who are all the people in your life who depend on you or whom you might want to remember in your plans? Spouse, children, grandchildren, other relatives, friends and loved ones come to mind.
What are the various properties you own that together make up your estate? List real estate, insurance, annuities, mortgages held, automobiles, furniture, etc. Make a note of the cost of each, the estimated current value and any income or debt involved.
How would you like to match your properties to the people you have listed? Be sure to include any plans you have to remember your charitable interests, such as Open Door Mission.
Who are the people you will need to talk with to complete your plan? Remember to list your attorney, insurance agent, broker, trust officer, certified financial planner and perhaps others.
How Can I…?
This summary chart will give you a quick overview of many of the planned giving options available to you. Another page to consider if you are exploring Planned Giving for the first time is our Planned Giving factors. Please keep in mind that your individual circumstances need to be considered before taking any action. As with all tax and estate planning, please consult your attorney or estate specialist.
A primary question to consider first is have you made out a will?
If you have not yet written a will, regardless of your charitable intent, please consider this.
|If your goal is to:||Then you can:||And your benefits may include:|
|Make a quick and easy gift.||Simply write a check now, or give through our secure online process.||An income tax deduction and immediate impact on us.|
|Avoid tax on capital gains.||Contribute long-term appreciated stock or other securities.||A charitable deduction plus no capital gains tax.|
|Defer a gift until after your lifetime.||Put a bequest in your will (give us cash, specific property, or a share of the residue of your estate).||Your donations are fully exempt from federal estate tax.|
|Receive guaranteed fixed income that is partially tax-free.||Create a charitable gift annuity.||Current and future savings on income taxes, plus fixed, stable payments.|
|Avoid capital gains tax on the sale of a home or other real estate.||Donate the real estate to us, or sell it to us at a bargain price.||An income tax reduction plus reduction or elimination of capital gains tax.|
|Avoid the twofold taxation on IRA or other employee benefit plans.||Name us as the beneficiary of the remainder of the retirement assets after your lifetime.||It lets you leave your family other assets that carry less tax liability.|
|Give your personal residence or farm, but retain life use.||Create a charitable gift of future interest, called a retained life estate.||It gives you tax advantages plus use of the property.|
|Receive some cash sales proceeds while making charitable gift.||Make a bargain sale.||Receive income tax deduction for gift portion, receive some cash and avoid capital gain tax on gift portion.|
|Make a large gift with little cost to you.||Contribute a life insurance policy you no longer need.||Current and possibly future income tax deductions.|
|Secure, fixed payments for life while avoiding market risks.||Create a charitable remainder annuity trust.||It gives you tax benefits and often boosts your rate of return.|
|Give income from an asset for a period of years but retain the asset for yourself or your heirs.||Create a charitable lead trust.||Asset is returned to the donor or heirs with federal estate tax savings and income tax deductions for income donated.|
|Create a hedge against inflation over the long term.||Create a charitable remainder unitrust.||Variable payments for life plus tax benefits.|
|Make a revocable gift during your lifetime.||Name us as the beneficiary of assets in a living trust.||Full control of the trust terms for your lifetime.|
Thank you so much for your interest in supporting Open Door Mission and our mission through a planned gift. Please don’t hesitate to contact Candace Gregory at (402) 829-1502 or email@example.com with any questions about your individual needs. We look forward to hearing from you soon.