Methodist Senior Services

Planned Giving

 

Ways To Help Our Mission Grow

There are a variety of tax-effective ways to give gifts, and donors can choose how their charitable gifts will be used. Each method of giving benefits from the most favorable tax treatment the law allows for contributions.

Cash is the easiest way to contribute and may qualify for maximum allowable income tax deductions.

Marketable or Closely-held Securities. If securities are highly appreciated, they may be given so the donor can deduct the full fair market value as a charitable contribution and thus avoid capital gains tax on the appreciation.

Real Estate may also be given at appraised value, so the donor can receive a full charitable deduction and avoid capital gains taxes.

Life Insurance can be used to create a major gift at a relatively low cost to the donor. If Mississippi Methodist Senior Services, Inc. (MMSS) is named owner or beneficiary of a new or existing policy, the donor receives a tax deduction. Additional premiums paid through MMSS are tax deductible, and proceeds pass to charity, free of estate tax.

Include MMSS in Your Will. A bequest of cash, securities or real property can significantly reduce the taxes otherwise payable by your estate. Your heirs benefit, and the gift continues your good work in your name permanently, a living symbol of your care and concern for others.

Retain Income from a Charitable Gift. There are many ways to make a charitable gift and still receive income for life or a specified time. Through these methods, donors may be able to increase annual income for themselves and/or their spouse, while reducing taxes on current income, estates and gifts. Two examples are:

  • Gift Annuities. MMSS offers competitive rates to supporters who give current gifts but retain a lifetime income. A portion of these gifts may be tax-deductible, and income is guaranteed. For more information and a detailed profile that fits your situation, contact our office at 662-844-8977.
  • Charitable Remainder Trusts. Deferred gifts may be created so that you or someone you love can receive a lifetime income. At the death of the first beneficiary, the remainder of the trust passes to MMSS to create a gift for whatever charitable purposes the donor has specified. These trusts provide current income tax deductions and/or estate tax deductions.
 
Pass Assets to Children or Grandchildren. Charitable Lead Trusts provide income to MMSS or one of its programs for whatever charitable purposes the donor has specified. After a set number of years, the remaining principal of the Trust, any accumulated appreciation, can then be distributed to children, grandchildren or other named beneficiary, often with very significant estate tax savings.
 
Planned GivingUtilize Retirement Plan Assets. A donor can use retirement plan assets [401(k), Keogh, 403(b)] to create a gift to MMSS for purposes the donor has specified. Also, retirement assets combined with charitable remainder trusts and life insurance trusts can be a valuable way of maximizing benefits from retirement plans.
 
If you or your professional advisors would like more detailed or technical information, we will be happy to respond to your requests by mail, telephone or in person.