If you have further questions about any of the planned giving options, please contact Maureen Parsons at firstname.lastname@example.org or 317.777.6140.
Planned Giving Options
A gift in your will
The simplest way to leave a planned gift is to make a bequest that names Greater Indy Habitat for Humanity as the recipient of a charitable gift in your will or living trust. You may contribute a specific dollar amount, a percentage of your estate, or the residual of your estate, which grants Greater Indy Habitat all or part of the estate after other gifts, debts, or costs have been satisfied. A bequest can also be contingent; that is, not realized unless the intended beneficiary dies first or is disqualified. Donors are encouraged to consult their attorney, financial consultant, or tax advisor before making any specific bequest.
A gift of your retirement funds
Another easy way to leave a bequest is to name Greater Indy Habitat for Humanity as the beneficiary of your retirement funds held in your IRA, 401(k), or 403(b) to add to or establish a charitable fund. This is a simple and effective way— and maybe the most tax advantageous—to create your legacy since it will not be subject to either estate or income taxes, as it would be if left to anyone but a spouse. Greater Indy Habitat for Humanity may be named as the primary beneficiary of a life insurance policy or as a secondary or contingent beneficiary.
A gift of life insurance
The gift of a life insurance policy to further the work of Greater Indy Habitat for Humanity can be one of the least costly and most flexible of deferred gifts. This gift may take many forms.
A new life insurance policy may be purchased which names Greater Indy Habitat for Humanity as the owner and beneficiary. The donor then receives a charitable gift deduction for each premium payment. An existing, paid-up life insurance policy may be donated, in which case the donor receives a charitable gift deduction approximately equal to the lesser of the basis in the policy or the cash surrender value.
Greater Indy Habitat for Humanity may be named as the primary beneficiary of a life insurance policy or as a secondary or contingent beneficiary.
Securities and mutual funds that have increased in value and been held for more than one year are popular assets to use when making a gift to Greater Indy Habitat for Humanity. When you donate appreciated securities or mutual funds in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. By placing a transfer on death (TOD) designation on your brokerage or investment account, that account will be paid to one or more persons or charities after your lifetime.
A charitable gift annuity
A charitable gift annuity allows you to receive guaranteed income for life and an immediate charitable income tax deduction, as well as supporting charitable organizations meaningful to you. You make an irrevocable gift to Greater Indy Habitat for Humanity, and Greater Indy Habitat for Humanity pays a fixed dollar amount to you and one other person (if you choose). The remainder of the annuity could leave a meaningful legacy for the Habitat mission at your passing. The annuity income depends on your age, the number of people receiving payments, and the amount of your gift to establish the annuity. A portion of your gift annuity income may also be income-tax-free.
A charitable reminder trust
By transferring assets to establish a charitable remainder trust, you receive an immediate tax deduction and lifetime income for you and your named beneficiary. You can also reduce or avoid capital gains taxes associated with the gifted asset, and you would remove the assets from your estate. When the trust’s term is complete, any remaining assets pass to Greater Indy Habitat for Humanity. Charitable remainder trusts offer a great deal of flexibility, and you can receive a fixed dollar amount each year (an annuity trust), or a variable amount based on a fixed percentage of the fair market value of the trust assets (a unitrust).
A charitable lead trust
A charitable lead trust distributes income to your charitable fund for a period of years or during your lifetime. Then the assets return to you or your surviving family members. The result is gift and estate tax savings. A charitable lead trust can allow you to make a significant gift to charity and transfer assets to family members with little or no gift and estate tax.
Greater Indy Habitat for Humanity (GIHFH) will consider tangible personal property gifts that provide benefit to Habitat and meet the purposes for which the gift is intended. In assessing the appropriateness of the gift, Habitat should address the following questions:
- Values—whether the acceptance of the gift compromises any core values of the organization
- Compatibility—whether there is compatibility between the intent of the donor and the organization’s use of the gift
- Public Relationships—whether acceptance of the gift damages the reputation of GIHFH
- Primary Benefit—whether the primary benefit is to GIHFH, versus the donor
- Consistency—is acceptance of the gift consistent with prior practice?
- Form of Gift—is the gift offered in a form that GIHFH can use without incurring substantial expense or difficulty?
- Effect on Future Giving—will the gift encourage or discourage future gifts?
All gifts of real estate are subject to review by the Chief Operating Officer and President & CEO.
“I give to Habitat for Humanity of Greater Indianapolis, DBA Greater Indy Habitat for Humanity, a nonprofit corporation currently located at 3135 N. Meridian St, Indianapolis, IN 46208, or its successor thereto, [written amount/percentage and description] for its unrestricted charitable use and purpose. Greater Indy Habitat for Humanity EIN is 35-1715910.”
“I give to Habitat for Humanity of Greater Indianapolis, DBA Greater Indy Habitat for Humanity, a nonprofit corporation currently located at 3135 N. Meridian St, Indianapolis, IN 46208, or its successor thereto, [written amount or percentage of the estate or description of property]. This gift should be used for (state purpose) if and so long as Greater Indy Habitat for Humanity determines that the need exists. If Greater Indy Habitat for Humanity shall determine at the outset or at a later time that the need does not exist, or no longer exists or for some reason it is not possible (or prudent) to administer my gift as originally intended, then Greater Indy Habitat for Humanity may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”