Become A Member Of Our Legacy Society
The Caridad Center’s Legacy Society is a special group of donors who have notified us of their intentions to pledge a gift (s) to Caridad Center in their estate plans to help insure the future well-being of our mission and program. By informing us of your legacy gift, Legacy Society donors will receive the following benefits:
- The satisfaction in knowing your legacy will make a lasting difference in your community.
- Invitation to exclusive Legacy Society Events.
- Listing in our Annual Report (unless you prefer to remain anonymous).
- Recognized as a Legacy Society Member on the Caridad Center web-site (unless you prefer to remain anonymous).
- Donor stories and testimonials that can be shared by family and friends and showcased on the Caridad web-site as well as on our various social media platforms.
To notify us about your planned gift and/or for questions about Caridad Center and our Legacy Society Program please contact Scott Giebler, [email protected], or call (561) 853-1638.
Planned Giving is a commitment by a generous donor to make a major gift to Caridad Center over a period of time during their lifetime or at death; as part of the donor’s overall financial and estate planning as determined by the Donors and their tax advisors. It is an investment in the future well-being of Caridad’s mission and programs. Once a donor decides to notify Caridad that he or she is leaving a future gift; you and/your family can be recognized as members of our Legacy Society (donors may choose to remain anonymous if they so choose). There are several types of planned giving options, but below are a few of the more popular vehicles for Donors of Caridad to consider:
Bequests – Bequests are the most popular planned giving method used by donors. Donors can make a gift or charitable bequest via a trust, will, or in their estate plan. Donors can allocate a specific amount of money in either a lump sum payment or as a percentage of their total estate given to Caridad now or upon their death; or leave their residue of their entire estate after all specific bequests are paid. Any such bequests may be tax deductible for gift and estate tax purposes.
Charitable Remainder Trusts – A donor may make a gift to a trust of highly appreciated or other assets. The Donor pays no capital gains tax on the sale of the property and may receive an income tax deduction for the cash and/or fair market value of the asset(s) gifted to the trust. Income is provided annually to you and/or others for life or for a term of years. Once the trust term is complete, the remaining funds are given to Caridad. These trusts may also provide gift and estate tax benefits.
Current Outright Gifts – Caridad is happy to accept gifts or property such as stock, real estate, or tangible personal property if such a gift is deemed appropriate, including gifts of appreciated property. This is an excellent way for a Donor to leverage a charitable gift.
Endowments – A Donor may make a gift for a specific purpose and endow that gift so that the income or a percent of the principal would be used by Caridad. Caridad accepts endowed gifts of $100,000 or more.
Retirement Plans and IRAs – A retirement plan may represent a donor’s largest portfolio asset. This gifting opportunity involves obtaining a beneficiary designation form from the retirement plan administrator and naming Caridad as the full or partial beneficiary of the retirement plan assets upon owner’s death. Significant income and estate tax saving can be realized by naming Caridad as the beneficiary of the retirement plan assets. If you are over age 71, you may now gift a portion of your IRA to Caridad during life directly from your IRA (the funds cannot go to you first) and receive a charitable deduction. This will lower the Donor’s Adjusted Gross Income for tax purposes, which can provide additional benefits for the Donor.
Life Insurance – This is an attractive option to many donors as it affords them the opportunity to make a sizeable gift for perhaps a minimal outlay of cash. Donors may give an existing, either fully or partially paid or new policy as long as the Donor commits to the payment of premiums. The Donor is entitled to a charitable income tax deduction for the cash value and/or any future premium paid to Caridad if we are named as a beneficiary of the policy.
Charitable Gift Annuities – A Charitable Gift Annuity (CGA) is a contract between a charity and a donor that, in exchange for an irrevocable transfer of assets to the charity, the charity will pay a fixed sum to the donor and/or beneficiaries designated by the donor for the lifetime(s) of up to two beneficiaries. A CSG offers a regular fixed income to the donor, while benefiting the charity of their choice. It can be designed to begin paying an income stream to the donor beginning immediately, at a fixed future date, or at a flexible future date. Charitable Gift Annuities also provide the donor with the opportunity to leverage “after tax” income.
As with all charitable gifts, kindly consult with your tax advisor to see if any of these planned giving ideas would be beneficial to you and to find out all the rules and regulations that apply. For questions about Caridad Center and our Legacy Society Program please contact Scott Giebler, [email protected], or call (561) 853-1638.