Your Gift Can Last Forever

When it comes to endowments, there are plenty of options. You may create a new permanent endowment with an initial minimum gift of $50,000, and give a gift with both immediate and long-term benefits. You also have the option of donating to one of our many established endowments that range from employee scholarships to those that support resident financial assistance at each of our communities. To learn more about existing endowments please contact us.

Endowment gifts are invested. A portion of the annual income from the investment is used to address immediate needs. The remaining funds are reinvested to ensure permanent support.

An Example of How It Works

Charles and Alice FisherFormer longtime residents and supporters of River Landing at Sandy Ridge, Charles and Alice Fisher, wanted to show their appreciation to River Landing employees by ensuring there would be educational funds available indefinitely for those employees who wish to pursue their educational goals. In 2018, they established The Charles and Alice Fisher Educational Endowment for the Employees of River Landing, and at the time were able to take a charitable tax deduction for their gift.

The Fishers were able to leave a permanent legacy and a portion of the income from the invested endowment is now awarded annually to qualifying employees. Other donors have chosen to support the good work the endowment is accomplishing and have grown Charles and Alice's initial investment by contributing to the scholarship. Many have also found that giving to the endowment is a meaningful way to memorialize the Fishers.

Next Steps

  1. Contact Marisa Ray at (336) 886-6553, Ext. 5118 or mray@brightspire.org to discuss endowed gifts.
  2. Seek the advice of your financial or legal advisor.
  3. If you include The Presbyterian Homes Foundation, Inc. (dba Brightspire 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. (dba Brightspire Foundation) 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 Presbyterian Homes Foundation, Inc. (dba. Brightspire Foundation), a nonprofit corporation currently located at 2109 Sandy Ridge Road, Colfax, NC 27235 (EIN: 58-2004356), 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 Presbyterian Homes Foundation, Inc. (dba Brightspire 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 Presbyterian Homes Foundation, Inc. (dba Brightspire 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 Presbyterian Homes Foundation, Inc. (dba Brightspire 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 Presbyterian Homes Foundation, Inc. (dba Brightspire Foundation) where you agree to make a gift to The Presbyterian Homes Foundation, Inc. (dba Brightspire 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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