Gifts of Cash: Cash contributions are deductible as an itemized tax deduction in the year you make the donation, up to 50 percent of your adjusted gross income. Excess charitable contributions can be carried forward for up to five additional years.
Gifts of Securities: The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. In order to preserve tax advantages, it is critical that you transfer the physical securities to Bellefaire rather than the proceeds from a sale.
Gifts of Real Estate: If you own property that is not subject to
a mortgage and has appreciated in value, a charitable gift may be an
attractive option. You can claim an income tax deduction based upon the
fair market value of the property you have owned for more than one
year, avoid all capital gains taxes and remove that asset from your
taxable estate. Or, you can transfer your home to us now and continue
to use the property for life.
Restricted Funds: Create an endowed fund. With a minimum of
$5,000, you can select from any number of programs, services or special
purposes to support Bellefaire JCB and make a lasting contribution to
the agency’s future. Your contribution will continue to grow through
reinvestment, as well as through additional donations. Annual
distributions are used to support the specified activity or purpose.
Funds can be named as requested by the donor.
Planned Giving:
Bequests: By including Bellefaire JCB as a beneficiary of your
will, trust or codicil, you ensure that your memory will live on - both
for those who will directly benefit from your generosity, and for those
who will be motivated by your example. Additionally, you can
significantly reduce your estate taxes.
Gifts of Life Insurance: You can contribute a life insurance
policy to Bellefaire by naming us either as the policy owner or simply
as the beneficiary. If you name us as the owner and beneficiary, you
will be entitled to an income tax deduction limited to the lower of the
value of the policy or your cost basis in the contract. If you continue
to pay premiums on a policy we own, you can deduct the premium payments.
Life Income Gifts: Life income gifts allow you to receive
payments as a result of making a charitable gift. Depending upon your
plan, payments will be fixed or variable, payable to you or other
beneficiaries you choose. For example, you might create a charitable
remainder trust to pay income to you for life and contribute money,
stock or other property to it. Once placed in trust, the assets can be
sold (without capital gains tax) and the proceeds reinvested to produce
a higher yield. Life income gifts entitle you to an immediate income
tax deduction, based on the present value of your gift.
The Monarch Society: The Monarch Society honors friends who have
supported major projects, established a named fund with a minimum
$5,000 commitment, or arranged for a deferred gift. The Society
received its name from Bellefaire's emblem, the butterfly, a universal
symbol for positive growth and change. Members' names are included in
the membership roster and on the permanent display in the Bellefaire
JCB lobby. Additionally, there is an annual appreciation event for all
members.
To learn more, call the Development and External Affairs Department
Cleveland area: 216-320-8385
Or email infoDEV@bellefairejcb.org
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