[Wish List]  [The Gift of Giving] [Dual Benefits of Giving] [Gifting Stock] [Gift Annuity] [Charitable Remainder Trust] [Real Estate] [ Your Will]

Wish List:

Anna Curtis Center
• New hypoallergenic bed pillows
• Twin size blankets
• Sleds
• Sturdy floor lamps
• loom thread
• guitar strings
• 4-person nylon tents in good shape
• art supplies, please call Chris or Mike first


Garden and Maintenance
• small air compressor
• Large C-clamps
• Hand pruners, branch loppers
• Garden hoes
• putty knives
• Caution tape
• untreated lumber, call Liseli first


Housekeeping
• HEPA vacuum cleaner, commercial or industrial


Kitchens
• kitchen towels, blue or green
• microwave


Office
• 2 laptop computers, Windows XP, large memory for database, network ability
• good office desks
• paper shredder
• flat screen monitor
• Office supplies, please call Buffy first


Pitt Hall
• New hypoallergenic bed pillows
• single mattress pads


Vehicles
• small car in good condition, gets high mileage
• van

Financial contributions are always welcome!

THE GIFT OF GIVING

As you know, Powell House is only partially funded by New York Yearly Meeting's budget. The rest of its operating funds comes from guest fees and donations gathered from semiannual appeals. Such efforts take time and energy from our principal activities: developing new and better spiritual programs for adults and youth.

One of the most effective--and least taxing--ways to accomplish that goal is to develop planning giving programs, such as the ones outlined here. Such donation plans provide Friends a way to support Quaker activities while at the same time minimizing their tax obligations. And, fortuitously, by cutting back on taxes, less money will flow to military spending.

One of the advantages of planned giving is that you can rest assured your gifts will fund programs you support, with no chance of legal or estate complications interfering with your aims.

And, as you know, the grace of being a benefactor is one of the richest gifts of giving.

Please contact us or read on for more details.

THE WAYS YOUR GIFT CAN WORK FOR POWELL HOUSE AND FOR YOU

Are you interested in reducing your federal tax liability, eliminating the time and expense of probate, providing retirement income for yourself or a loved one, or supporting Powell House's spiritual enrichment programs?

Outlined below are a number of ways you can support Powell House while saving on your taxes. How you contribute will determine the tax impact of your gift. Of course, you should consult with your financial adviser, lawyer or accountant for recommendations on which plan is best for you.

OUTRIGHT GIFT OF APPRECIATED STOCK

If you have property--such as stock or real estate--that has gone up in value over the years, giving it to Powell House could benefit both you and Powell House. 

For example, say you are in the combined 35% tax bracket (28% federal and 7% state), and you sell the appreciated stock, realizing a $10,000 gain.  Your tax liability would be about $3,500.  But if you were to give the stock to Powell House (or if you sell the stock and give the $10,00 proceeds), you would owe no taxes.  For those who would be affected by the Alternative Minimum Tax, there's good news--thanks to a recent tax law change, such a strategy would not even trigger the tax.

GIFT ANNUITY

A gift of at least $5,000 to Powell House can be converted into an annuity that guarantees you or a loved one a lifetime income.  In addition to a tax deduction for the gift, subsequent annuity income is mostly tax exempt.  The annual income from the annuity is quite competitive, sometimes surpassing the rates of commercial annuities.   Upon the death of the last beneficiary, the assets would go to Powell House.

DEFERRED PAYMENT GIFT ANNUITY

This plan is similar to the regular gift annuity--a guaranteed income for life--except the payments start at least one year after the gift is made. As a result, because of the delay, once the payments begin they are larger because the recipient is older (the formula is based on age) and interest on the gift has been compounding tax-free. Many donors use this approach as part of their retirement planning.

CHARITABLE REMAINDER TRUST

This kind of trust enables you to make a gift (minimum $50,000) to Powell House and receive fixed lifetime quarterly or semiannual payments, the size of which re negotiated when the gift agreement is made.  Not only does the initial gift result in a tax deduction, but you also avoid capital gains and estate taxes and the funds grow tax-free and the payments are (may be) tax exempt.

Whatever is left in the trust after the death of the last beneficiary is distributed to Powell House.

CHARITABLE REMAINDER UNITRUST

A unitrust is similar to the charitable remainder trust with one exception:  Since the trust is revalued each year, the payments to your or your beneficiaries will vary.   Typically, since the capital is invested and grows tax-free, it's possible to receive a smaller amount in the early years of the trust and larger amounts in future years.

REAL ESTATE

It's possible to donate real estate to Powell House, too. It could be your home, unused land, rental property, or a farm. There are a number of strategies for such donations:

Bequest: this kind of gift is made through your will. Upon the transfer of ownership, Powell House will sell the property, relieving your heirs of the burden.

Retained Life Estate Plan: Under this plan, you can deed the property to Powell House, but retain the right to live there or use it for the rest of your (or your spouse's) life. The advantage of this plan over a bequest is that you get an immediate charitable deduction and an opportunity to reduce estate taxes.

Retained Life Estate Plan Plus Annuity: If the deductions under the Retained Life Estate Plan are not useful to you (for example, if you are not in a high tax bracket), you can use the deduction amount to fund an annuity administered by Powell House. In effect, you are "selling" the deduction amount to Powell House in return for a lifetime annuity income.

Unitrust: If you have property that does not generate income, Powell House can sell it and convert the proceeds to a Unitrust (see Charitable Remainder Unitrust). This is an effective way to turn the property into an income-producing asset without paying capital gains tax while benefiting Powell House.

GIVING THROUGH YOUR WILL

A well-executed will is one of the simplest and most effective ways to direct part of your estate to Powell House.  A bequest can be restricted to a specific program or used where Powell House feels it is most needed.  It can fund an annuity for a loved one or establish a memorial trust.  You can rest assured, Powell House will honor your bequest as closely as possible.

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