Remember Orphan Voice in your will or living trust
Leave a Legacy of Hope
Did you know you can set aside a portion of your estate to bless the “least of these” while leaving the bulk to heirs? Many people decide to leave a percentage of their estate (such as 10%) to charity and the rest to family.
Or, you can provide for family and friends first, then leave the rest of your estate — known as the “residue” — to charity. Either of these methods can be established through a bequest in your will or living trust.
- Your assets remain in your control during your lifetime.
- You can modify your bequest if your circumstances change.
- If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
- You know that your gift will benefit Orphan Voice tomorrow just as you intend it to today.
The IRS allows you one of its most significant tax breaks for gifts of appreciated securities.
Stocks, bonds, and mutual funds are the most common types of Securities in a person’s portfolio. By making a gift of Securities to Orphan Voice, in addition to partnering with our ministry, you can claim the full appreciated value of the Securities as a charitable contribution deduction and avoid the capital gains tax.
- You receive gift credit and an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
- You pay no capital gains tax on the securities you donate.
- You have the satisfaction of making a significant gift now or funding a life-income gift that benefits Orphan Voice later.
Make a substantial gift to Orphan Voice through a transfer of residential, commercial, or undeveloped real estate.
Gifts of real estate can frequently save you thousands of dollars in income, estate, and capital gains taxes, while providing a substantial benefit to Orphan Voice.
We can accept gifts of residential, commercial or undeveloped real estate. You receive a charitable income tax deduction based on the fair market value of the property, with no capital gains liability on the transfer. You are freed from paying real estate taxes, liability insurance and maintenance costs on the property.
In some cases, Orphan Voice may use the property for our purposes. In most cases, we will sell it, and apply the proceeds to the program you direct.
Charitable Gift Annuity
Receive a fixed payout and significant tax benefits.
Your contribution of cash or securities into a Charitable Gift Annuity not only supports the work of Orphan Voice, it provides you or your loved ones with fixed payments for a lifetime. These payments are based on your age at the time of the gift. There are also attractive tax benefits available through this gift.
- Your initial gift is partially income tax–deductible.
- Your charitable gift annuity payments are partially income tax–free throughout your estimated life expectancy.
- Your payments are not affected by ups and downs in the economy.
- The gift annuity can be for one or two people, so your spouse or another loved one can also receive payments for life.
- If you use appreciated stock to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy.
- You have the satisfaction of a making a significant gift that benefits you now and Orphan Voice later.
Donate books, artwork, or equipment and secure an income tax deduction.
You transfer a painting, antiques, collectibles or other personal property to Orphan Voice. We may hold the property or use it in the furtherance of our mission. Or we may elect to sell the property at some point in the future and use the proceeds for our programs.
- You receive gift credit and an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, provided your gift satisfies the “related use” requirements of the IRS.*
- You can have the satisfaction of making a significant gift now to Orphan Voice without adversely affecting your cash flow.
*To obtain a full, fair-market-value deduction for your gift of personal property, the items you give us must relate to our overall charitable purpose and functions. A gift of unrelated property, or a gift that you instruct us to liquidate immediately for cash, will return a deduction for just your cost basis in the assets.
Life Insurance is an asset you may not think of donating to Orphan Voice until you hear how powerful, practical and simple it can be.
When you own a life insurance policy with accumulated cash value, you’re essentially sitting on a pile of money. When the original purpose for the protection no longer applies—such as to educate children now grown or to provide financial security for a spouse now deceased—your life insurance can be redirected to help support a worthwhile cause. One option is simply to name Orphan Voice as the primary beneficiary. (Naming us a beneficiary while you retain ownership of the policy, however, does not qualify you for an income tax deduction.) Or you can name us as the beneficiary and also assign us ownership of the policy as a current charitable gift, which provides you tax benefits.
When you assign us ownership of a life insurance policy and also name us as the beneficiary, the following good things happen:
- You receive an income tax charitable deduction, available under most circumstances.
- You realize tax savings from use of the deduction, and these savings can be invested for future income.
- You reduce your future estate tax liability.
- You provide for the ministries of Orphan Voice, leaving a legacy of hope.
Gifts in Honor or Memory
Donate to Orphan Voice in honor or memory of a loved one. We will send a personalized acknowledgement to the appropriate individual or family. Contact Orphan Voice for more information.
Give Your Home, But Live There for Life
Find out how you can make a gift to Orphan Voice of a remainder interest in your home, receive sizable tax benefits now and continue living in your home for the rest of your life.
Testamentary Life Income Gift
Your will or revocable living trust creates, for example, a charitable remainder trust that pays income to your spouse or other heirs for their lifetime. Eventually, the remaining principle goes to Orphan Voice.
Gifts of Retirement Plans (IRA, 401k, 403b)
Your retirement plan may be worth more when donated to Orphan Voice than to your heirs.
IRA Qualified Charitable Distributions (QCD’s) Reinstated!
Charitable IRA Distributions Made Permanent
In December 2015, Congress passed a law allowing you to give up to $100,000 to Orphan Voice from your individual retirement account (IRA) when you are over 70½ years old without counting the distribution as taxable income for federal income tax purposes. Federal income tax advantages of QCD’s include:
- QCD is not taxable income so it has no effect on your adjusted gross income (AGI).
- Reduces potential income taxes on Social Security benefits.
- Giving a QCD directly to Orphan Voice from your IRA can allow you to benefit from charitable giving even if you don’t itemize your deductions.
- QCD’s count as IRA distributions and can be used to satisfy all or part of your required minimum distribution (RMD).
Take advantage of this most tax-effective way to make a gift.
*The material presented in this web site is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning.