Planned Giving allows you to bestow lasting gifts on the Wichita Children's Home — as well as your loved ones — while protecting your valuable assets from income and estate taxes. Planned Giving can provide guaranteed income for life, creating a gift that will live on long after the donor's death.
There are several ways to structure a planned gift to maximize tax and financial benefits, allowing you to substantially increase the size of your gift without increased costs.
4 Ways To Give
We encourage our supporters to consider planned giving, and ask that you consult your tax and legal advisors regarding the type of gift that will best meet your needs.
Donating appreciated assets is a great way to make a gift to the Wichita Children’s Home. Both the donor and our community’s children benefit! Donations of stock, mutual funds or other appreciated assets can provide significant tax benefits to any donor:
• If you give stock directly to the Home, you get a full donation instead of selling stock, paying broker fees and taxes, then donating remaining proceeds to the Home.
• If you maintain a brokerage account instead of actual stock certificates, it is a simple transfer from your account to ours. It also simplifies your income tax filing. If you have any questions, please consult your tax advisor or contact the Home for more details.
A gift of permanent life insurance can be of great benefit in maximizing your contributions to the Wichita Children's Home without incurring additional costs. Such a gift can provide a number of advantages to the Home, as well: income that continues after your death, a lump-sum distribution that can be used to fund special projects, and proceeds that can be received without the delay of probate. Such a gift can help your contribution go even further through the power of your policy's tax-deferred cash value accumulation and potential dividends. Consider:
• If you have an existing policy that you no longer need, you may choose to change the beneficiary designation to the Wichita Children's Home. While this method does not provide you with an income tax deduction for your premium payments, the amount of the death benefit is deductible from your estate as a charitable gift. If you transfer ownership of the policy to the Home, designating the Home as the beneficiary, you may receive an immediate charitable tax deduction.
• You may choose to purchase a new policy naming the Wichita Children's Home as owner and beneficiary by providing funds for the premiums as a cash gift to the Home. These funds are tax deductible, and the Home will receive the policy's death benefits at the time of your death.
Using insurance to help maximize the value of your contribution and minimize your tax liabilities, you can make a substantial — but affordable — gift for the care of children in need.
The loss of a friend or loved one is always difficult, and we often seek ways to remember those we hold dear to our hearts. Contributing to a memorial fund is a special way to celebrate the life of someone you love. Your gift provides not only a thoughtful memorial, but helps change the lives of the children we serve.
Often, we wish to honor someone important in our life, or someone who has made a difference in the lives of others. An honor gift is a wonderful way to express your gratitude and to provide care for the many children who come through our doors each year.
The Wichita Children's Home also benefits from an endowment fund that has estate gifts at its core.
The endowment committee, composed of trustees and non-trustees, meets quarterly to review the fund's activity. The Wichita Children's Home is committed to the continued growth of this fund, and may draw a 3% allocation annually, if needed, to support the Home's operations.