Making a planned gift is a wonderful way to show your support and appreciation for Timothy Hill and its mission while accommodating your own personal, financial, estate-planning, and philanthropic goals. With smart planning, you may actually increase the size of your estate and/or reduce the tax burden on your heirs. Just as important, you will know that you have made a meaningful contribution to Timothy Hill.
BequestsAll bequests received will be used at the discretion of Executive Director, unless otherwise requested and restricted by the donor.
Charitable Remainder Trusts/Life Income GiftsCharitable Remainder Annuity Trusts or Unitrusts will be credited to Timothy Hill at 100% of the fair market value of the assets in the trust on the date of the gift.
Charitable Lead TrustTimothy Hill will be credited with the projected value of the income to be paid for the term of the trust.
You can designate Timothy Hill as the primary or contingent beneficiary of an insurance policy that you own. Premiums are not deductible. You will receive a tax deduction equal to the lesser of the cash value of the policy or your cost-basis once it is paid up and you make the Timothy Hill the owner of the policy.
If the policy is not paid up, you may make Timothy Hill the owner of the policy. You will receive an immediate income tax deduction equal to the current cash value of the policy. You will receive future tax deductions for donations made to Timothy Hill to pay the premiums.
Qualified Retirement Plans – IRA’s, 401K, Keogh and Others
These plans provide income tax benefits at the time contributions are made and the assets in the plans are allowed to build tax-free. These plans are part of the owner’s taxable estate and are not subject to income taxes until they are withdrawn by the owner or paid to a beneficiary.
Gifts of Real Estate and Tangible Personal Property
Timothy Hill will be credited with 100% of the fair market value of the property as professionally valued. Gifts can consist of almost any type of property. Assets may be given outright, may serve as the corpus of a trust arrangement, or (in the case of a personal residence) may be given with the right of lifetime tenancy by donor and/or spouse. Immediate partial charitable deduction is available to the donor.
Donors are advised to consult with their tax advisor to determine specific tax savings and/or the planned giving opportunity which best fits their particular need.
For more information contact Timothy
Hill’s Advancement Department at 631-369-1234.