Foundation...

The Foundation

T

he House of the Good Shepherd is an ecumenical, non-profit, continuing care retirement community.  It is recognized by the Internal Revenue Service as a 501(c)(3) organization, declaring it eligible to receive tax deductible donations.  Its Foundation was founded in 1999 to assist the encouragement and development of resources in support of services and programs designed to benefit existing and future residents.  As a result, there are various means of accomplishing these objectives including some that are mutually beneficial to The House and donors alike.

MEANS OF GIVING

Charitable Gift Annuities

The House of the Good Shepherd is excited to be able to offer supports an excellent way to benefit themselves as well as The House.

A charitable gift annuity is a contract in which The House of the Good Shepherd guarantees to pay a fixed amount of annual income for as long as you live.  Payments may be made to up to two beneficiaries (annuitants).  While typically the donors name themselves, an annuity can also be established to benefit others such as a parent or sibling.

The amount of income will depend upon the amount of the investment ($5,000 minimum) and the age(s) of the annuitants at entry (minimum age 55).  Here are some sample rates for the individuals and couples:

                                Single Person               Married Couple
                                Age     Rate                  Age        Rate
                                65       6.0%                 65/65     5.6%                 
                                70       6.5%                 70/70     5.9%
                                75       7.1%                 75/75     6.3%
                                80       8.0%                 80/80     6.9%
                                85       9.5%                 85/85     7.9%

In addition to receiving an attractive gift annuity rate for life, the following tax benefits will occur:

• An immediate income tax charitable tax deduction
• a portion of the payments will be partially tax-free, representing a return of the principal contributed
• If you fund the contract with appreciated securities, there is no income tax on any long-term capital gains

The House of the Good Shepherd will be pleased to provide you with a personalized illustration based upon your age(s).  Just call or write or email.  NO OBLIGATION will result.

Wills and Bequests

There are a number of ways to declare gifts (bequests) to named charities in your estate plans and your will:

• Specific amount - simply designate a particular dollar amount to The House of the Good Shepherd as well as other charities
• Specific property - designate a particular asset, such as real estate, art, or other valuables
• Percentage - specify a percentage of your estate
• All or a portion of the residue - provide that a charitable gift to The House of the Good Shepherd be made from the remainder of your estate after the specific gifts have been fulfilled

Securities

Gifts of publicly traded stocks or bonds can be attractive because of the favorable income tax treatment they may bring.  Capital gains taxes on the appreciation in the value of securities held long-term may be completely avoided even though you receive a federal tax deduction for the full value of the securities on the date of transfer.

On the other hand, if the security has declined in value since purchased, it is best to sell the asset and then contribute the cash proceeds.  This enables you to claim the tax benefits of both the capital loss and the charitable gift.

Cash

Please make out your check for your tax deductible gift to The House of the Good Shepherd.

Credit Cards

For your convenience and to assist you in earning point credits, The House of the Good Shepherd is able to accept gifts via these credit card companies:
                                                 Visa
                                                 Master Card
                                                 American Express
                                                 Discover 

Life Insurance

You can purchase a new policy and name The House of the Good Shepherd as owner and beneficiary of the policy.  In this case, your premium payments are tax deductible.

You can name The House as the owner and beneficiary of an existing policy.  In this case, the current value of the policy as well as future premiums become tax deductible.

Another thought is to make The House of the Good Shepherd the contingent beneficiary of a life insurance policy.  In this case, it would receive the proceeds if the primary beneficiary predeceases the insured.

We welcome your questions concerning any of the above following matters.  Please write to the Director of Development at the address shown on this site or call the Development Office at 908-684-5900.  No obligation will result from the letter or the call.