Picture your estate as a pie. When you decide whom you want to share it with – you can cut big slices, little slices or a combination.
So many of our donors want to do “more,” but worry they will jeopardize their own resources before needing them. And, many worry about planning for kids and future generations. The pie analogy is a great illustration to help you dictate the serving sizes. You can ensure that your loved ones get the biggest portion of your estate – and make sure your family is served first.
How? Instead of a fixed amount, consider leaving PMMA (Presbyterian Manors of Mid-America®) a percentage of your estate or of specific assets. That way, your charitable gift will adjust according to future circumstances, and gifts to loved ones will remain proportional – no matter how your estate fluctuates.
Here are two ways to do it:
- Gift a percentage of your estate to PMMA® in your will.
- Leave PMMA a percentage of your residual estate (the portion of your estate that remains after all gifts and bequests have been made, and all claims of the estate are satisfied).
The great thing about gifts from your will is that they are flexible. You can change your mind at any time. Whatever you decide, a gift to PMMA does not have to be large – every slice makes a difference.
Gifts of Stock
See combined tax savings of up to 70% of your gift when you donate appreciated stocks or mutual funds. Donating appreciated assets avoids federal capital gains taxes, and provides a federal income tax deduction for the current market value of the gift.
One resident donor who makes annual gifts of stock recently said, “giving appreciated stock allows all the value of the stock and the gains to serve residents at PMMA rather than having to pay taxes on those gains, so it’s a win-win. I love knowing that the support I provide benefits those around me.”
PMMA is here to make your stock donation easy and fast. Simply email us at email@example.com with your name, contact information, and type of shares you are interested in donating, and we will promptly email delivery and trade instructions.
Wondering which gift is right for you?
There are a number of ways to amplify your impact at PMMA. To find the gift vehicle that is right for you, rank these benefits in order of importance to you:
To retain flexibility, consider a gift to PMMA in your will or trust. Since this gift will not become in effect until after your lifetime, you are free to change your mind at any time to adapt to unforeseen circumstances.
To receive an income tax deduction and eliminate capital gains tax, make a gift of appreciated assets that you have owned for more than one year. Your tax deduction will be for the full fair market value of the donated property up to 30 percent of your adjusted gross income and you will be exempt from paying capital gains taxes on any increase in value. We will sell the assets and use the proceeds to support PMMA.
To ensure the future of PMMA, make a gift of $100,000 or more to create a named endowment. PMMA will carefully invest the money and then a portion of the earnings is released each year to continue the mission. The rest of the endowment remains invested to create a lasting legacy.
To provide for your heirs, make sure their inheritances don’t carry an unnecessary tax burden. Distributions from qualified pensions and retirement plans, for example, are subject to income taxes at the beneficiary’s ordinary income tax rate. Instead, consider leaving less tax-burdened assets, such as real estate and life insurance, to your loved ones and naming PMMA as the beneficiary of pensions and retirement plans. PMMA is eligible to receive the full amount of these assets and bypass any federal taxes.
To supplement your retirement income, arrange a charitable gift annuity with PMMA. In addition to supporting PMMA with your gift, you will receive fixed payments for life and a partial income tax deduction in the year your gift is made.
The following table further outlines just a few of the options available and the benefits they can have for you.
|Gift Type||How it Works||Benefits to You|
|Bequest||Name PMMA in your will or revocable living trust.||• Gift is exempt from federal estate tax
• You control your assets during your lifetime
|Outright gift of cash||Simply write a check or transfer funds.||• Gift is immediately tax deductible
• You get to witness the benefits of your generosity
|Outright gift of securities||Contribute long-term appreciated stock or other securities.||• Gift is immediately deductible based on full market value
• Eliminates capital gains tax
|Outright gift of personal property||Donate tangible property for our tax-exempt use.||• Gift is immediately deductible based on full market value|
|Gift of life insurance||Contribute a life insurance policy you no longer need.||• Gift is immediately tax deductible
• Gift may provide future deductions through contributions used to pay policy premiums
|Gift of retirement assets||Name PMMA as the beneficiary of the balance that remains after your lifetime.||• Gift can be made from your most highly taxed assets, leaving more for your family
• Eliminates income and estate taxes
|Gift of real estate||Donate property to PMMA or sell at a reduced cost.||• Gift is immediately tax deductible
• Reduces, or eliminates, capital gains tax
|Charitable remainder trust||Create a charitable trust that pays you a set annual income (annuity trust) or a variable amount based on a fixed percentage of the trust’s assets as revalued annually (unitrust).||• Gift is immediately tax deductible
• Provides income for life, often at a higher rate of return
|Charitable gift annuity||Enter a charitable gift annuity contract with PMMA that pays a set amount for one or two lives.||• Immediate savings on income taxes
• Tax-favored fixed payments for estimated life expectancy of income beneficiary(ies)
|Charitable lead trust||Create a charitable trust that pays fixed or variable income to PMMA for a specific amount of years and thereafter the balance is given to loved ones.||• Reduces your taxable estate
• Property is ultimately given back to your family often with reduced gift taxes.
For a printer friendly version of the chart above, or for more questions about charitable IRAs, click on the links below. Also, included below is a free estate planning guide to help you define your legacy.
Planned Giving Printable Chart
Charitable IRA FAQs
Estate Planning Guide – Define Your Legacy
Beyond the methods listed above, you can also contribute to the mission of PMMA by sponsoring an event, or through retail programs such as Kroger/Dillon’s Community Rewards.
Save a Slice for PMMA
Even a small piece of your estate makes an impact. To learn more about supporting PMMA while serving family first, contact Sarah Oenning at Development@pmma.org
or call 800-336-8511.