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PLANNED GIVING - HOW IT WORKS
There are many ways in which you can
help ECHO Outreach Ministries, such as an
outright cash donation or a carefully planned deferred gift in
which both you and ECHO benefit. Planned giving allows you to
make arrangements for all or part of your assets to be donated
to ECHO, at the end of your life. This page will discuss the
various options available to accomplish this.
WHO CAN
BENEFIT?
A common misconception is that you need to possess a large
estate, in order to utilize planned giving strategies, or that
you will deprive family members or other charities in order to
do so. This is not the case. You can choose a gift in proportion
to your means and priorities, just as you may already do when
you make an annual gift to ECHO. It is likely that they are not
the only agency you support, and each gift is planned according
to your family needs and income. A bequest can be planned in the
same manner, and you can, essentially, endow your annual gift
forever.
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What Are My Options?
WILL BEQUESTS
Bequests may be made in a number of ways; a percentage of
the total estate, a fixed amount, specific property, or a residual
estate; i.e. “all the rest and residue of my estate to ECHO Outreach
Ministries of Tallahassee, Florida.” (back to the top)
CHARITABLE GIFT ANNUITIES
Annuities are gifts of cash or transferable securities,
which guarantee the donor a life income based on his/her age, and the
amount of the gift. The recipient of the gift assumes control of the
funds and/or securities, and becomes responsible for the payment of the
life income. This is a popular choice with donors because of the
security of the guaranteed income, but there are other benefits as well.
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Charitable Gift Annuity interest rates may be
higher than what your assets are currently producing.
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You gain freedom from responsibility for investing
your assets. Once you have made your gift, its automatic. You
can choose to receive your check annually, semi-annually,
quarterly, or monthly.
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You get an immediate tax reduction. Part of your
donation is designated by the IRS as a charitable gift, and if
you itemize, you receive a tax deduction. If the full amount of
the deduction cant be claimed in the year you make your gift,
the balance can be carried forward for five years.
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Because the IRS considers it a "return of
principal," a portion of all your future annuity payments is tax
free for the years of your life expectancy.
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If you fund your annuity with an appreciated
asset, (something that is worth more now than what you paid for
it,) you can avoid a large portion of the applicable capital
gains tax.
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A gift made now will remove assets from your
estate, and possibly reduce estate taxes and probate costs.
(back to the top)
BENEFICIARY OF INSURANCE OR RETIREMENT ACCOUNT
You can easily arrange, through the beneficiary
designation form, for ECHO Outreach Ministries to be the primary or
partial beneficiary of life insurance benefits, retirement accounts,
IRA, or TSA funds. If you wish others to share in these plans, you
may specify an amount, or percentage, to be paid to ECHO Outreach
Ministries at the time of your passing. (back to the
top)
LIFE ESTATE AGREEMENT
A personal home or farm may be given while reserving the
right to live in and use the property for a term of years, or for
life. You receive an income tax deduction now, and ECHO Outreach
Ministries will receive your gift at the end of your life.
(back to the top)
GIFTS OF APPRECIATED PROPERTY
Real estate, securities, stocks and bonds are
excellent, tax-wise choices to use as gifts to ECHO Outreach
Ministries. (back to the top)
DONATE WHILE SHOPPING
Like to
help ECHO Outreach Ministries?
Go shopping!
That’s right, go head and buy something for yourself –– a new CD,
the latest bestseller, essentials like toothpaste or vitamins, even
a computer. But first you need to join
iGive.com
to help ECHO Outreach Ministries.
Every time you shop at one of the over 240 name-brand stores in the
Mall at iGive.com, we’ll
receive a donation of up to 26% of each purchase you make, at no
cost to you.
Remember, donating to
ECHO Outreach Ministries
won’t cost you a thing. But
we’ll miss out on a lot of extra dough, if you don’t join.
Membership is free and your privacy is guaranteed.
(back to the top)
For more information please email us at:
ECHO
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