Planned and Estate Giving for Individuals and Families
Although The Children's Center makes an annual individual donor appeal, the support of individuals and families are critical to the long-term strength of our treatment programs. We work with donors and advisors to determine the type of gift that best meets their needs and supports the programs that are so important to the children and their families.
||A donor may make a gift of life insurance that names The Children's Center as policy beneficiary. This gift may be in the form of a new or pre-existing policy.
|Pension and Retirement Plan Benefits
||A donor may designate The Children's Center as the beneficiary of their pension or retirement benefits. Pension and retirement plan funds go into the donor's estate, and the estate receives an estate tax deduction for the amount payable to The Children's Center.
||A bequest is a statement in the donor's will of a gift to be made from the donor's estate. The donation may be a specified amount, a percentage of the donor's estate, or the residual of the estate.
Suggested language that may be used in estate documents: "I hereby give to The Children's Center, (hereinafter referred to as "The Center," a non-profit mental health agency for young children currently located at 350 South 400 East, Salt Lake City, Utah, the sum of $___. The Center shall use this gift where the need is greatest."
||A donor or donor's family may have established a donor-advised fund that benefits the agency. The donor receives a charitable deduction for the funds donated at the time the donor-advised fund is established. A donor-advised fund is a convenient vehicle for receiving donations.
||Some families set up private foundations to further their philanthropic interests. Requirements for a donation from a family foundation vary widely, from very informal to very structured.
|Charitable Gift Annuity (CGA)
||A donor may establish a CGA at an organization that houses CGA and donate the annuity or the remainder amount to The Children's Center.
|Charitable Remainder Annuity Trust
||A donor may create a charitable remainder annuity trust and name The Children's Center as the beneficiary of the remainder interest. During the life of the donor, they receive regular payments of a fixed amount and an immediate income tax deduction for the value of the remained interest to The Children's Center.
|Charitable Remainder Unitrust
||A donor may create a charitable remainder unitrust and name The Children's Center as the beneficiary of the remainder interest. The donor receives an immediate income tax deduction equal to the remainder interest to The Children's Center.
|Charitable Lead Trust
||A donor may create a charitable lead trust that names The Children's Center as the recipient of the income for a specified number of years. This income is tax deductible to the trust. In addition to receiving an immediate tax deduction while The Children's Center receives income, investment of the funds of the trust may increase the amount available to the holder of the remainder interest.
Valuation of a Gift
Irrevocable, deferred, or planned gifts, such as charitable remainder trusts, charitable lead trusts, charitable gift annuities, or remainder interest in a residence or farm, will be value based on the IRS-determined remainder value (tax deduction) or other applicable rules and regulations.
Purpose of Gift
A donor making a gift to The Children's Center may make either an unrestricted or restricted gift. An unrestricted gift to the endowment allows The Children's Center to allocate the gift to the agency's unrestricted endowment fund or to a restricted endowment fund as The Children's Center determines most appropriate to meet the needs of the agency. A restricted gift will be used to meet the purposes identified by the donor at the time of commitment.
For questions, more information, to propose a gift not listed above, or other options, please contact Joelle at 801-578-2324 or by email at JKanshepolsky@tccslc.org.