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Planned Giving
What is a "planned gift"? A planned gift is a charitable gift that requires some planning it is made. Many donors like planned gifts because they can provide valuable tax benefits and/or income for life. The benefits of a planned gift can make be very attractive to both the donor and the charitable. Potential benefits of planned gifts:
- Increase current income for the donor or others
- Reduce the donor's income tax
- Avoid capital gains tax
- Pass assets to family at a reduced tax cost
- Make significant donations to charity
With the guidance of an organizations development officer and/or financial advisor, anyone can develop a planned gift to meet his or her charitable and financial goals. Planned gifts include bequests, trusts, and contracts between a donor and a charity.
Be a part of Billie Hardee's Seeds of Hope Society!
Everyone who includes Billie Hardee in their estate plans or gives a planned gift automatically becomes part of our "Seeds of Hope Society", which is our way of honoring those who have remembered Billie Hardee with a future gift. This planned gift may be in the form of an estate gift, charitable trust, insurance policy, or gift designated to the organization through a will. The special contributions from our "Seeds of Hope" members will help provide services for the children and families of South Carolina well into the future. Please contact Wayne Chapman at [email protected] or (843) 393-8600 x 304, if you would like more information.
Following is the official information you will want to include on documents prepared by your attorney or financial advisor to designate bequests to the Billie Hardee Home for Boys.
Corporate name: Billie Hardee Home for
Boys
Address: Post Office Box 617 Darlington, SC
29540
Federal Employer ID number: 57-0637968
Contact Name: Wayne Chapman, Executive
Director
Types of Planned Gifts
Bequest: Remember Billie Hardee in your Will! When a donor decides to leave assets to charity in his or her will, he or she is making a bequest. The donor's estate will receive a charitable estate tax deduction at his or her death, when the gift is made to charity. Everyone should have a will.
Charitable Gift Annuity: A Charitable Gift Annuity is an agreement between an individual/couple and a qualified charitable organization. The individual or couple transfers assets to the charity and, in turn, receives fixed payments for the remainder of their lives, guaranteed by the full worth of the charity, usually at a greater return than current investments. Payments may be made monthly, quarterly, or annually. Income from a gift annuity can be deferred for a period of years. Deferred gift annuities are often set up by younger donors to supplement retirement income.
Charitable Remainder Trust: This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to whomever the donor chooses to receive income. The donor may claim a charitable income tax deduction and may not have to pay any capital gains tax if the gift is of appreciated property. At the end of the trust term, the charity receives whatever amount is left in the trust. Charitable remainder unitrusts provide some flexibility in the distribution of income, and thus can be helpful in retirement planning.
Charitable Lead Trust: This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to charity during its term. At the end of the trust term, the principal can either go back to the donor (a grantor lead trust) or to heirs named by the donor (a non-grantor lead trust). The donor may claim a charitable income tax deduction for funding a grantor lead trust or a charitable gift tax deduction for funding a non-grantor lead trust. Since lead trusts are typically used to pass assets to heirs, non-grantor lead trusts are far more common than grantor lead trusts.
Retained Life Estate: A donor may make a gift of his or her personal residence or farm to charity and retain the right to live there for the remainder of his or her life. The donor receives an immediate income tax deduction for the gift. At the donor's death, the charity can use or sell the property.
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Planned Giving
What is a "planned gift"? A planned gift is a charitable gift that requires some planning it is made. Many donors like planned gifts because they can provide valuable tax benefits and/or income for life. The benefits of a planned gift can make be very attractive to both the donor and the charitable. Potential benefits of planned gifts:
- Increase current income for the donor or others
- Reduce the donor's income tax
- Avoid capital gains tax
- Pass assets to family at a reduced tax cost
- Make significant donations to charity
With the guidance of an organizations development officer and/or financial advisor, anyone can develop a planned gift to meet his or her charitable and financial goals. Planned gifts include bequests, trusts, and contracts between a donor and a charity.
Be a part of Billie Hardee's Seeds of Hope Society!
Everyone who includes Billie Hardee in their estate plans or gives a planned gift automatically becomes part of our "Seeds of Hope Society", which is our way of honoring those who have remembered Billie Hardee with a future gift. This planned gift may be in the form of an estate gift, charitable trust, insurance policy, or gift designated to the organization through a will. The special contributions from our "Seeds of Hope" members will help provide services for the children and families of South Carolina well into the future. Please contact Wayne Chapman at [email protected] or (843) 393-8600 x 304, if you would like more information.
Following is the official information you will want to include on documents prepared by your attorney or financial advisor to designate bequests to the Billie Hardee Home for Boys.
Corporate name: Billie Hardee Home for
Boys
Address: Post Office Box 617 Darlington, SC
29540
Federal Employer ID number: 57-0637968
Contact Name: Wayne Chapman, Executive
Director
Types of Planned Gifts
Bequest: Remember Billie Hardee in your Will! When a donor decides to leave assets to charity in his or her will, he or she is making a bequest. The donor's estate will receive a charitable estate tax deduction at his or her death, when the gift is made to charity. Everyone should have a will.
Charitable Gift Annuity: A Charitable Gift Annuity is an agreement between an individual/couple and a qualified charitable organization. The individual or couple transfers assets to the charity and, in turn, receives fixed payments for the remainder of their lives, guaranteed by the full worth of the charity, usually at a greater return than current investments. Payments may be made monthly, quarterly, or annually. Income from a gift annuity can be deferred for a period of years. Deferred gift annuities are often set up by younger donors to supplement retirement income.
Charitable Remainder Trust: This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to whomever the donor chooses to receive income. The donor may claim a charitable income tax deduction and may not have to pay any capital gains tax if the gift is of appreciated property. At the end of the trust term, the charity receives whatever amount is left in the trust. Charitable remainder unitrusts provide some flexibility in the distribution of income, and thus can be helpful in retirement planning.
Charitable Lead Trust: This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to charity during its term. At the end of the trust term, the principal can either go back to the donor (a grantor lead trust) or to heirs named by the donor (a non-grantor lead trust). The donor may claim a charitable income tax deduction for funding a grantor lead trust or a charitable gift tax deduction for funding a non-grantor lead trust. Since lead trusts are typically used to pass assets to heirs, non-grantor lead trusts are far more common than grantor lead trusts.
Retained Life Estate: A donor may make a gift of his or her personal residence or farm to charity and retain the right to live there for the remainder of his or her life. The donor receives an immediate income tax deduction for the gift. At the donor's death, the charity can use or sell the property.
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