Harness the Giving Power of a Private Foundation

A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to The Presbyterian Homes Foundation, Inc. and other charities.

You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted. You can create a lasting legacy by naming your loved ones as your successor to continue to recommend grants to charitable organizations, or name The Presbyterian Homes Foundation, Inc. as a beneficiary to receive all or part of the account after your lifetime. With a donor advised fund, you also avoid the cost and complexities of managing a private foundation.

In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.

An Example of How It Works

Joyce and Howard LoughlinJoyce and Howard Loughlin established a Donor Advised Fund at the Cumberland Community Foundation, Inc. in 1999.

The couple received federal income tax charitable deductions for the amounts of their initial and subsequent gifts. Donating appreciated securities added to their tax savings. With the money set aside for charitable giving, the Loughlins have been able to decide which non-profit and religious organizations to support with the funds.

Among other charities they support through their Donor Advised Fund, Joyce and Howard now recommend grants to the PHI Foundation, Inc. in support of Glenaire, which they have been doing annually since they moved to Glenaire in 2017.

The Loughlins have taken their desire to support Glenaire a step further by earmarking their Donor Advised Fund to come to the PHI Foundation after their lifetimes, making them members of the Glenaire Society.

"We are pleased to have found this way to support Glenaire both now — and following our deaths," they say.

Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Contact Marisa Ray at (336) 886-6553, Ext. 5118 or mray@presbyhomesinc.org to discuss using donor advised funds to support The PHI Foundation and our mission.
  4. Seek the advice of your financial or legal advisor.
  5. If you include The PHI Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: The Presbyterian Homes Foundation, Inc.
Address: 2109 Sandy Ridge Road, Colfax, NC 27235
Federal Tax ID Number: 58-2004356

A charitable bequest is one or two sentences in your will or living trust that leave to The Presbyterian Homes Foundation, Inc. a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to The Presbyterian Homes Foundation, Inc., a nonprofit corporation currently located at 2109 Sandy Ridge Road, Colfax, NC 27235, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The PHI Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The PHI Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The PHI Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The PHI Foundation where you agree to make a gift to The PHI Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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