Other Ways to Give

Other Ways to Give

In addition to cash donations, in-kind giving and volunteering, there are a number of ways you may want to consider supporting the programs and services of North Jersey Friendship House.

 

As you review these additional “ways to give”, we recommend that you consult your accountant or financial advisor to learn more about them and how they may be of benefit to you.

 

Bequest Giving: It is a provision in either your will or your living trust which provides that all or a portion of your estate is to pass to a charitable organization. This provision can take effect immediately upon death or can be contingent on someone’s (spouse, children) surviving. If the bequest is provided for in your will, your gift will be distributed subject to probate court proceedings. If you have made the bequest a provision of your living trust, your gift will be made by your trustee. If your estate is subject to estate taxes, your charitable bequest will likely reduce your tax liability. If you would like to find out more about Charitable Bequests, we will contact you upon receipt of your email.

 

Charitable Gift Annuity: You give a gift of cash, securities or other assets to a charity. It goes into an annuity that pays out a guaranteed interest rate to the beneficiary (you and/or your spouse usually). At your death the nonprofit gets to keep whatever is left of the original sum. The American Council on Gift Annuities sets the rates that guide annuity payments. These are set so that the nonprofit ends up with about half of the donor's initial contribution. If you are interested in finding out more about Gift Annuity, we will contact you upon receipt of your email.

 

Donation through A Giving Circle: Giving circles are rapidly becoming a popular way for individuals to channel and amplify their philanthropic impulses. Giving circles can be small and informal with a few people pooling their money and giving it to a chosen charity; or they can be highly organized, require contributions of thousands of dollars and a commitment of many years. Either way, giving circles allow donors to leverage their assets by pooling their contributions to achieve a greater impact.

 

Real Estate: A gift of real estate is another generous way to contribute to an organization. A portion of a property can be given as a gift; it does not have to be the entire property. To find out more information about making a Gift of Real Estate, we will contact you upon receipt of your email.

 

Life Insurance: Policy donations provide a much greater benefit to the donor as well as the charity. Gifting a life insurance policy can greatly reduce the donor's taxable estate, which can save thousands of dollars in estate taxes for upper-income taxpayers. Gifting a policy can also yield a current income tax deduction of the policy's fair market value. Of course, this deduction can be quite significant in some cases. Perhaps most importantly, the charity will receive the entire face amount of the policy upon the death of the insured. This is usually going to be many times the amount that they would receive from any rider, and can represent a substantial windfall. However, the cost to the donor will only be a small fraction of that amount each year, and any premiums paid after the date of the gift will be deductible as well. There is also no limit on the size of the policy that may be donated, since charitable donations have no ceiling for estate tax purposes.

 

Charitable Lead Trust: A charitable lead trust is a philanthropic and estate planning tool. A donor can transfer assets, such as cash, stocks and artwork, to a trust for a set term of years. Each year, payments are made from the trust to the donor's designated charity/charities. It is called a lead trust because the charity/charities is/are entitled to the lead (or first) interest in the trust asset and the non-charitable beneficiary receives the remainder (or second-in-line) interest.