We can help you plan and implement outright gifts, some of which can offer special tax advantages or other benefits:
• Securities (stock, bonds, mutual funds)
• Real estate
• Charitable lead trust
• Life insurance
• Deferred compensation plans
• Closely-held business assets & interests
We can help you consider gifts that pay you income, estate gifts, and tax-advantaged deferred gifts including:
• Gifts that pay you income (charitable gift annuity, charitable remainder trust)
• Beneficiary designation of life insurance, deferred compensation plans, etc.
• Testamentary charitable lead trust
• Retained life estate
Ways of Giving to NTUC
Gifts of Cash
A gift of cash (includes currency and checks) is certainly the most common method of giving. Please make your check payable to New Thought Unity Center. You may mail your gift to 1401 E. McMillan Avenue, Cincinnati, Ohio 45206 or donate online. In addition to individual donations, you may wish to participate in our Consistent Giving Program.
Securities, including stocks, bonds, and mutual funds, often provide greater tax benefit to the donor than a gift of cash. A gift of appreciated securities offers the donor two significant advantages:
1. You avoid paying capital gains on the increased value of the stock.
2. You receive a charitable deduction for the full fair market value of the stock when the gift is made. In order to do this, your stock generally must have been held long-term (more than one year). Gifts of appreciated securities are fully deductible up to a maximum of 30% of your adjusted gross income. Anything more can usually be carried forward and deducted over a maximum of five subsequent years.
Securities that have decreased in market value from the time of purchase may also be used to make a gift to the Center. If the securities are sold and the Center receives the proceeds, the donor may deduct both the contribution and the loss.
Gifts of securities are valued at the market value on the date they are transferred to NTUC’s account. For publicly traded securities, market value is computed as the average of the high and low market prices on the date of transfer.
Over the years, many people have included NTUC in their wills. These gifts have greatly enhanced our endowment funds and supported projects designated by the donors. A benefit of bequests can be the avoidance of estate taxes.
A bequest to benefit the Center can be included in the body of your will or in a codicil to your will. You may state that all, or a percentage, of your estate be given to New Thought Unity Center after specific amounts are distributed to your other beneficiaries. You may designate a specific dollar amount or provide that specific assets be given to NTUC. You may bequeathe the residue of your estate, after all other specific bequests have been made, to NTUC. A revocable living trust used as a will-substitute can contain similar provisions.
We encourage you to consult with your professional advisors to be certain your documents fit your situation and local law. NTUC would appreciate having a copy of the portion of your will or living trust that provides for the Center. This will enable us to assist your executor or trustee in expeditiously settling your estate.
Life Income Gifts
For many NTUC family and friends, the desire to make a significant gift to the Center is balanced by a need for continuing income from those assets. Life income gifts to NTUC may take the form of a gift to a charitable remainder trust or a charitable gift annuity. Often gifts in one of these forms will actually increase a donor's or beneficiary's income. Additionally, these life-income gifts may provide some or all of the following rewards:
• A current charitable income tax deduction
• Reduction or elimination of capital gain taxes on any appreciated property used to make your gift
• A reduction in estate and gift taxes
• Professional investment management
• Tax-favored income
• The satisfaction of having made a significant gift to NTUC
While cash may be used to fund a life income gift to NTUC, gifts of appreciated property or securities provide additional tax benefits.
Individual Retirement Accounts (IRAs), tax-sheltered annuities, Keogh plans, self employed plans (SEPs), 401(k), 403(b) and other qualified pension and profit-sharing plans can also provide significant support for NTUC. A donor needs to inform his retirement plan administrator that he wishes to name New Thought Unity Center as a beneficiary of the plan. The funds will usually pass to NTUC free of all taxes, whereas an individual beneficiary's distribution from your retirement plan could be reduced by both estate and income taxes!
Life insurance offers an attractive method for making charitable gifts to benefit NTUC. For example, you may give a policy that is fully or partially paid up and take an income tax deduction for the value of the policy, (which generally approximates the cash surrender value). Or, you may purchase a new policy that names New Thought Unity Center as owner and beneficiary. A donor may also name New Thought Unity Center as a beneficiary of an existing life insurance policy, retaining ownership during life, but payable at death for support of the Center.
A gift of real estate may be a principal residence or vacation home, a farm, a commercial building, subdivision lots, or unimproved land. The gift may be of the entire property or of a fractional interest in the property. The same benefits that accrue to gifts of appreciated securities apply to gifts of appreciated real estate. All gifts of real estate require pre-approval by NTUC, under the established guidelines for acceptance.