Planned Giving
A Gift That Keeps Giving Forever
Planned Giving Program
A Gift That Keeps Giving Forever
What is Planned Giving?
Unity House is dedicated to empowering people with disabilities, today and forever. That's why we're always planning for the future. We could use your help. A planned gift:
- requires no cash from you
- can shield you and your family from taxes so that you can make a larger charitable gift
- can grow in Unity House's Endowment, where it will provide income to support Unity House's mission every year, forever
- leaves a legacy, projecting your values into the future for generations to come
- allows us to thank you now for your dedication to our cause
Will Bequests
The most common method of planned giving is a Charitable Bequest. It's a statement in your will or living trust that directs that a gift be made upon your passing. I can be accomplished by adding a single sentence to your will. We recommend the following wording in your will:
I give the sum of $___ (or I give ___% of my estate) to Unity House of Cayuga County Inc., 217 Genesee Street, Suite 14, Auburn, NY 13021, tax id: 16-1081372) to be used or disposed of as its Board of Directors deems appropriate in its sole discretion.
You may also designate that your gift be used to benefit a particular Unity House program.
Donor-Advised Funds
A donor-advised fund (DAF) allows donors to receive an immediate tax deduction and then recommend grants from the fund over time. If your DAF is held by Fidelity, Schwab or BNY Mellon, you can use this DAF Direct widget to easily designate a grant to Unity House.
IRA Qualified Charitable Distribution (QCD)
If you have an Individual Retirement Account (IRA) and are at least 70½ years old, you have a powerful tool that could save you in taxes while benefitting the charities you love. A qualified charitable distribution (QCD), made directly by your IRA's trustee to the charity of your choice, could allow you to avoid paying taxes on up to $100,000 in capital gains income. It also counts toward any required minimum distribution (RMD) amounts.
Here's how you do a QCD: (1) Find the form on your IRA custodian's website; (2) Fill out the form, naming Unity House of Cayuga County Inc. as recipient using our tax info (see below); (3) Mail the form in as directed.
Other Options
| Your Goal | Your Gift | How to Make the Gift | Your Benefits |
|---|---|---|---|
| Make a quick and easy gift | Outright Gift | Donate cash, securities, or property | Income tax deduction; avoidance of any capital gains tax |
| Make a revocable gift during your lifetime | Living Trust | Name Unity House as beneficiary of assets in a living trust | Control of trust for lifetime; possible estate tax savings |
| Defer a gift after your lifetime | Bequest in Will | Name Unity House in your will | Donation exempt from federal estate taxes |
| Make a large gift with little cost to yourself | Life Insurance Gift | Give a policy with Unity House as owner and beneficiary | Current income tax deduction; possible future deductions |
| Avoid double taxation on retirement plan assets | Retirement Plan Gift | Name Unity House as beneficiary of the remainder of the assets after lifetime | Avoidance of heavily taxed gift to heirs, allowing less costly gifts |
| Avoid capital gains tax on the sale of a home or other real estate holdings | Real Estate Gift | Donate the property to Unity House | Immediate income tax deduction and avoidance of capital gains tax |
| Give your personal residence, but continue to live there | Retained Life Estate | Designate the ownership of your home to Unity House but retain occupancy | Charitable income tax deduction and lifetime use of home |
| Secure a fixed and often increased income | Charitable Remainder Annuity Trust | Create a charitable trust that pays you a set income annually | Immediate income tax deduction and fixed income for life |
| Create a hedge against inflation over the long term | Charitable Remainder Unitrust | Create a trust that pays a percentage of the trusts assets; valued annually | Immediate income tax deduction, annual income for life |
| Supplement income with fixed annual payments | Charitable Gift Annuity | Enter a contract with Unity House in which we'll pay you fixed payments annually | Current and future savings on income taxes; fixed income for life |
| Reduce gift and estate taxes on assets passing to heirs | Charitable Lead Trust | Create a trust that pays a fixed or variable income to Unity House for a set term and then passes to heirs | Reduced size of taxable estate; keeps property in family, often with reduced gift taxes |
Making Important Decisions
Not sure what method of planned giving is best for you? We recommend you consult with a professional estate planner, attorney, or licensed financial advisor. Unity House's Planned Giving Advisory Council includes experts in all of these fields.
If you need help locating a professional, or if you have any questions planned giving, please contact us by email or at 315-253-6227, ext. 360.
Thank you for considering Unity House in your estate planning!
Unity House's Legal Name
Unity House of Cayuga County Inc.
Tax ID or EIN #16-1081372
NY State Charities registration #02-35-31