We are pleased to offer a new service - the Direct Donation Plan. Now you can have your donation to Kemmerer Village deducted automatically from your checking or savings account. Also, you won’t have to change your present banking relationship to take advantage of this service.
- The Direct Donation Plan will help you in several ways, as it will save you time while allowing you to write fewer checks and less to mail.
- If you make routine donations to Kemmerer Village, you can authorize regularly scheduled donations to be made from your checking or savings account. You will receive an acknowledgment from Kemmerer Village with the gift amount and date. Proof of your payment will appear on your bank statement.
- You can make a donation at any time and from any location.
- It saves cost to you as many people spend close to $100 a year on postage.
- It is easy to sign up for and/or cancel.
If you are interested in learning more about this process, please print off the following form to mail in. Or call the Kemmerer Village Development Office at (217) 226-2132 or (217) 226-2130. We will be happy to assist you with any questions.
Gifts of Cash
There is no easier way to garner a charitable deduction for tax purposes – and support us at the same time – than by simply writing a check! Make sure your envelope if postmarked by December 31; if it is, your gift will qualify as a gift even if it is not received by us until the first week of the new year.
If you itemize, your outright gifts of cash are fully deductible for federal income tax purposes up to 50% of your adjusted gross income. If your total gifts should exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years.
There are occasions of joy and sorrow in the lives of our family and friends that call for a response from us. A Memorial Gift or an Honor Gift to Kemmerer Village is a way to express love and respect at appropriate times. Your gift, large or small will help provide for the daily care, food, clothing, medical care, educational needs, and Christian ministry.
Memorial Gifts can be given in memory of a deceased friend or family member, keeping their caring influence alive while also providing a life changing opportunity for a child at Kemmerer Village... An acknowledgment of the gift will be sent to the family of the deceased, and a remembrance will be listed in the next issue of our newsletter, the Kemmerer Voices. The amount of the gift is not shared.
Making an Honor Gift
There are occasions of joy and sorrow in the lives of our family and friends that call for a response from us. A Memorial Gift or an Honor Gift to Kemmerer Village is a way to express love and respect at appropriate times. Your gift, large or small will help provide for the daily care, food, clothing, medical care, educational needs, and Christian ministry
Living Honor Gifts are a tribute to someone still here to enjoy your love and appreciation through a gift for the children at Kemmerer Village. They may be given to recognize special occasions such as a Birthday, Anniversary, Graduation, Retirement, to express gratitude, or "just because." The individual receiving the tribute will receive a written acknowledgment of the gift, and the occasion will be listed in the next issue of the Kemmerer Voices. The amount of the gift is not shared.
Many employers sponsor matching gift programs and will match any charitable contributions made by their employees. Check to see if your company participates in this program, request a matching gift form from your employer, and send it completed and signed with your gift. We will do the rest. The impact of your gift to our children may be doubled or possibly tripled! Some companies match gifts made by retirees and/or spouses.
Year-End Gift Ideas
While there are a variety of ways you can help vulnerable children, your tax-deductible gift to Kemmerer Village is one of the easiest ways for you to ensure that these children get the assistance they need and deserve.
You may want to support Kemmerer Village annually with a gift of cash or stock. These gifts are put to work immediately to help ensure the continuation of critically needed programs and services.
Year-end giving is as easy as:
1. making a charitable gift; and
2. saving taxes.
We’d like to make it even easier with this information on some of the best ways to save – and give.
Giving is, of course, much more than tax brackets and charitable deductions. Philanthropy provides the meaningful difference in what we can do. This information is only a brief introduction to some of the best tax-advantaged methods of giving. We would be pleased to provide you with further information. Also, we urge you to discuss your year-end tax planning with your accountant or other professional advisor.
Gifts of Stock
The end of the year may be an excellent time to consider a gift of stock. Giving long-term appreciated stock offers you a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in value of your stock. In addition, you receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes the value of such gifts may be deducted up to 30% of adjusted gross income with an additional five-year carry forward. Example: If you purchased stock many years ago for $1,000, and it is now worth $10,000, an outright gift of that stock to us would result in a charitable deduction of $10,000. In addition, you permanently avoid paying capital gains tax on the $9,000 of appreciation.
Gifts of Real Estate
If you have owned your home, a vacation home, acreage, or a farm for many years, a charitable gift of that real estate can be especially tax-advantageous. The property may have so appreciated in value over the years that its sale would result in a sizeable capital gains tax. If given to Kemmerer Village instead, you avoid the tax and, at the same time, realize a charitable deduction for the full fair-market value of the real estate.
You may also wish to consider a gift of your personal residence or farm, reserving the right to continue to live in the house or farm the property for life (and, if applicable, the lifetime of your surviving spouse). Through such an arrangement, you will be entitled to a current income tax deduction for a portion of the fair market of the property.
Gifts of Life Insurance
If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a year-end charitable gift! To receive a charitable deduction, name Kemmerer Village as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, if annual premiums are still to be made and you continue to pay them, those premiums will become tax deductible each year. (It’s easy to contribute a life insurance policy to us. Just check with your life insurance agent for details on which forms to complete.)
Life Income Gifts
If you are considering a major gift, your gift of cash or stock in the form of a “life income gift” can significantly increase your income! A life income gift allows you to transfer assets now, and yet continue to receive income from the cash, stock, or other property contributed. A life income gift can allow you to:
- Increase your income for life;
- Receive a generous charitable contribution deduction in the tax year it is made;
- If you contribute stock, avoid any capital gains tax on the appreciation!
A life income gift is often made through a trust arrangement called a “unitrust” or an “annuity trust”. With a unitrust, you and/or your spouse (or another beneficiary) receives annually a fixed percentage of the fair market value of the assets in the trust. The income received will vary from year to year, based upon how the trust’s investments perform. With an annuity trust, you and/or your spouse (or another beneficiary) receives a fixed amount from the trust each year. This amount is agreed upon when you create the trust; it stays constant, no matter what happens with the stock market or interest rates.
While you’re considering your income tax savings, this may also be a good time to consider long-term tax savings. The federal estate tax can still take approximately 50% of one’s estate at the time of death. ThaRet’s a higher tax bite than the income tax! It definitely pays to do some advance planning with your attorney and other professional advisors.