Donating to the Parent-Child Home Program by naming the organization in your will or estate plan is a special way you can help PCHP fulfill its mission of erasing the achievement gap and leveling the playing field by ensuring that every child has the opportunity to enter school ready to succeed. Planned giving allows you to include charitable donations in your overall financial plan, which helps to ensure the continued strength of our organization.
There are a number of ways that you can plan to leave a legacy:
Bequests Made in Your Will or Trust
You may choose to provide for the Parent-Child Home Program by leaving a bequest in your will or trust. Bequests can be made in several ways, and below is a list of some of those options.
- You can provide that a specific dollar amount (for example, $5,000), a specific percentage of your estate (for example, 5%), or a remainder of your estate will pass to the Parent-Child Home Program.
- You can designate a specific asset to pass to the Parent-Child Home Program (such as specific securities).
- Bequests can also be made in memory or in honor of a person, and we would be happy to suggest ways to ensure proper recognition.
Should you choose any of these options, please make sure you properly identify the Parent-Child Home Program. Please contact the National Center and we will assist you with this planning process.
Other Planned Gifts
Although leaving a legacy bequest in your will or trust is the simplest and most common way to make a planned gift, there are many other planned giving strategies that may suitable to your needs.
Charitable Gift Annuity
A charitable gift annuity is an irrevocable contract in which you exchange a gift of cash or securities for a fixed lifetime income stream for yourself and/or a loved one. By participating in this program, you can make a significant gift to the Parent-Child Home Program and at the same time receive a lifetime income stream. You may also receive an immediate income tax deduction and favorable capital gains tax treatment.
In general, this planned giving option is for donors 65 years and older who contribute a minimum of $5,000. There is, however, another option for younger donors, called a deferred gift annuity. Payments begin at a point in the future specified by the donor, but cannot start until after the named annuitant (you and/or your loved one) is 65.
Charitable Remainder Trusts
A charitable remainder trust is similar to a charitable gift annuity in that it creates an income stream for you or a loved one for life or for a specified term of years. At the end of the specified term, the remainder of the trust’s assets pass to the charity or charities. Although this option involves legal fees for the donor, it is an attractive vehicle that offers more flexibility than a charitable gift annuity. Trusts can be tailored to accommodate a wide variety of gift assets and to meet personal financial and charitable goals.
You can name the Parent-Child Home Program as the or a beneficiary of your retirement plan(s). Assets from an IRA or other qualified retirement plans passing to heirs are taxed more heavily than other assets in your estate since they are subject to both estate tax upon your death and income tax when distributed to your heirs Making a charity the beneficiary of some or all of your plan generally only requires completing a form obtained from your plan administrator.
Life Insurance Policies
You can name the Parent-Child Home Program as the owner and/or a beneficiary of your life insurance policy. When existing life insurance policies are no longer important to your family’s financial security, you can pass on the financial benefits of the policy to the Parent-Child Home Program by designating the Parent-Child Home Program as the owner and/or beneficiary of the policy. As with retirement plans, this approach generally only requires completing a form obtained from the life insurance company.
We would be happy to work with you to discuss the giving opportunities mentioned above and to help create a donation plan that makes sense for your particular circumstances. We also recommend that you speak with your lawyer and tax and financial advisors to assist you in determining the best-planned gifts for your circumstances.