When people think of contributing to an organization like Fairmount, they usually assume it means writing a check or delivering cash. Many, many wonderful friends do just that, and we are very grateful. However, there are a variety of other ways to give. Many of them make it possible for you to give even if you presently are not able to make a cash donation.
The choice of giving option depends on your unique circumstances. A good “match” will provide funds for Fairmount’s much needed services either now or in the future, and it will reduce taxes, and in some cases, create a monthly income to assure that your personal needs will be met.
Peter Passage, Stewardship Director
Charitable Gift Annuity
This type of gift is a simple agreement between you and Fairmount Homes in which you commit assets (money or other resources) and in exchange Fairmount pays to you, to you and your spouse, or to you and one other person you name, a set amount monthly for life. Along with a guaranteed monthly income for life, you can claim valuable tax benefits when you sign the annuity agreement.
Charitable Bequest
You can designate Fairmount Homes as a recipient in your will. The gift can be designated for a particular purpose here, or you can allow Fairmount to use it where needed most. Your gift will not be subject to inheritance taxes.
Life Insurance
You can donate your life insurance policy outright, or
you can name Fairmount Homes as the beneficiary. Either way you receive a
tax deduction.
Charitable Remainder Trusts
Assets that have increased in value, such as real estate or securities, make wonderful gifts and can provide income to you for life. Again, as the donor, you also benefit from a tax deduction, and Fairmount is blessed, as well.
Charitable Lead Trust
You can use this type of giving option if you own an income producing asset and want to contribute the interest to Fairmount Homes. You have the option of retaining the asset principal or electing to pass it on to your heirs after a designated period of time.
IRA Distributions
If you are age 70½ or older and have an individual retirement account (IRA), you can make a gift to Fairmount using IRA funds without tax complications.
Peter Passage, Stewardship Director, would love to sit down with you and help identify the option(s) that best meet your personal needs and fulfill your giving goals. His friendly advice comes with absolutely no obligation on your part.
