Other Gifts

In addition to the satisfaction that results from supporting the Masonic Home residents, you receive additional benefits.  These benefits vary depending on the type of asset you use to fund your gift.

Life Insurance

Often the life insurance policies outlive their usefulness.  The small children for whom these policies were sometimes purchased to protect have long since grown and become financially independent.  You can name the Foundation as the beneficiary of these policies and receive a charitable income tax deduction for their cash surrender value.

Retirement Plans

Your retirement plan assets might be taxed twice.  These income and estate taxes may exceed over 75% in some cases.  To avoid these taxes, consider naming the Masonic Charity Foundation as a beneficiary on your retirement plan accounts.

"UPDATE" Charitable Rollovers

New legislation has extended Individual Retirement Account (IRA) rollover gifts through the 2008 and 2009 tax years. If you are age 70 1/2 or older, you can exclude from your taxable income any IRA funds withdrawn and transferred directly to the Foundation. You may give any amount up to $100,000 per year.

Real Estate

You can transfer the deed to your home to the Foundation and continue to live in it as always.  While you are still responsible for all maintenance, insurance and taxes, you receive a substantial charitable deduction.  Your home only passes to the Foundation at your death.

Securities

For stocks and bonds that have appreciated in value, consider contributing them to the Foundation to receive income and capital gain tax savings.  If your securities have decreased in value, consider selling them instead and then contributing the proceeds to us.  Doing so yields a loss deduction to offset any gains on other sales as well as a charitable deduction.

Personal Property

Gifts of tangible property, such as electric wheelchairs or clothing, are another way to help our residents.