Good Will-Hinckley offers a variety of ways for donors to support the campus including gifts of cash, appreciated securities, real estate, and life insurance. Please consider making a tax-deductible contribution to our Annual Fund or Capital Gifts projects.
To learn more, please contact the Finance Department at 207-238-4012 or 1-800-639-1757.
GIFT ANNUITY PROGRAM
Good Will-Hinckley started offering charitable gift annuities to our donor friends in August of 1996. Since then over $400,000 has been invested for gift annuity contracts. The Good Will - Hinckley Gift Annuity is a wonderful opportunity to receive a generous fixed income for life and help the children at Good Will-Hinckley.
How does the Gift Annuity Program work? A Good Will-Hinckley Annuity is a written contract between you and our organization. Assets are transferred to Good Will - Hinckley in return for guaranteed regular payments for one life or two. Rates are determined by the age of the annuitant[s].
How does it benefit children? Your gift to Good Will-Hinckley works for you during your lifetime. Upon your death, assets in your name are transferred to Good Will-Hinckley's Endowment Fund, providing a perpetual gift to support needy boys and girls.
How does it help the donor? In addition to providing financial support for our organization, a Good Will - Hinckley Annuity provides you with a generous income for life. If the gift is funded with cash, a significant portion of your gift is TAX FREE. In the year the gift is made, you receive an immediate tax deduction, generally about one-half the face amount of the annuity gift. If the gift is funded with appreciated securities, you save significantly on capital gains taxes.
How can you learn more? With the volatility in the stock market, this couldn't be a better time to consider an annuity. We can quickly and easily provide a proposal to you that shows you the tax deductions you will receive and the annual amount of your life time income.
Additional Information
The minimum annuity contract is $5,000, and there is no maximum. Good Will-Hinckley Gift Annuities are guaranteed by all of Good Will-Hinckley's assets and Endowment Funds. An annuity payment has never been missed by Good Will-Hinckley.
Bequests - This is the most common type of planned gift. In fact, bequests have played a significant role in the growth of Good Will-Hinckley, since its founding in 1889.
Life Estate Gifts - Donor contributes a personal residence or farm to Good Will-Hinckley and continues to live on the property until death. The property can be retained for one or more lives, or may be retained for a term of years. The gift may save estate and probate taxes, including a current tax deduction for the property's discounted value.
Life Insurance - One of the easiest ways to make a substantial contribution to Good Will - Hinckley is through a life insurance policy. This can be done in two ways. First, you can make Good Will - Hinckley the beneficiary of your policy. For a minimal annual premium, you will leave a significant gift and your estate will receive a charitable tax deduction for the face value of the policy. Secondly, you can make Good Will-Hinckley the owner and beneficiary of the policy and receive a current deduction for the approximate cash value of the policy. You simply make the contributions to Good Will - Hinckley and Good Will - Hinckley pays the premium of your policy. You still receive annual deductions and leave a substantial gift to Good Will-Hinckley at the time of your death.
Charitable Remainder Annuity Trust
An irrevocable gift that may be funded with cash or appreciated assets. Donor provides a fixed income for life for him or herself, as well as others. This can be done over a specific number of years if desired. Donor receives immediate income tax deduction for creating the Trust. The donor may save estate taxes and probate costs later. When the Trust ends, the remaining assets go to Good Will-Hinckley.
Charitable Remainder
An irrevocable gift that may be funded with cash or appreciated assets. The Trust will provide income to the donor [or another person] for life - or for a specified number of years [up to 20 years]. The annual income payout is determined by multiplying a fixed percent [not less than 5%] by the net fair market value of the trust's assets, as determined each year by the beneficiary [or survivor beneficiary, if more than one]. Charity gets the remainder. Donor receives charitable income tax deduction, capital gains tax avoidance, and estate tax reduction.
There are a number of ways friends can support Good Will-Hinckley. Donations help provide the financial support to make scholarships available for needy youngsters and ensures that Good Will-Hinckley will continue to expand services and provide a safe home community for many years to come.
Types of Gifts
Gifts of Cash - Cash contributions account for most giving. These gifts can support our annual fund provide annual operational support and scholarship funding. Or, if you have a special interest, it can fund a particular project or program at your request.
There are two ways you can make a donation to Good Will-Hinckley:
Contact our Finance Department at (207) 238-4012 for more information.
Matching Gifts
Many businesses and corporations have matching gift programs in which an employee's contribution may be matched in greater or lesser amounts by the company. Check with your company personnel office to see if this opportunity is available.
Securities
Gifts of securities are an easy way to make a charitable contribution. The value of your gift is the average mean of your stock on the date the gift has been authorized. Appreciated Securities are publicly traded stocks that have appreciated in value and have been held in value for more than 12 months. You pay no capital gains tax on the appreciation and the full market value qualifies as a charitable contribution deduction. To maximize these tax benefits, appreciated securities should be given directly to Good Will - Hinckley. Depreciated Securities are publicly traded securities which have decreased in value since purchased. It is best to sell these securities outright and contribute the proceeds so you can deduct the capital loss.
Real Estate
For many donors, gifts of real estate can be advantageous. A professional appraisal is required and must be dated no earlier than 60 days before the gift is made. You may deed some or all of the property outright to Good Will - Hinckley, or transfer ownership while retaining residency rights. Bequests of real estate are always welcome.
Personal Property
Upon Good Will-Hinckley's acceptance, gift of tangible personal property, such as art or jewelry, may qualify for tax deductions at fair market value. Different tax rules apply if the asset is related or unrelated to the charitable purpose of Good Will-Hinckley.
Also, use GoodSearch! An easy way to help everytime you search the web or shop online!
(Click for more information about GoodSearch.)
PO Box 159 Hinckley, Maine 04944 | (207) 238-4000 | Info@gwh.org