Giving

Planned Giving

When provisions are made for a future gift, generally one that is completed after the giver has passed, it is called a planned gift. Some forms of planned gifts involve a lifetime of secure income for the giver (life income gift) after which the balance comes to White’s. Please call or email White’s Director of Development at 260-563-1158, ext. 1347 to learn more or to seek a plan that might best suit your needs.

Providing Through Your Will or Estate

White’s was founded in 1850 through the estate of Quaker businessman Josiah White. Since then, Josiah’s legacy has lived on to help unfortunate children have better lives. Like Josiah, you may support this mission to children through your will for a future gift when you are gone.

Many donors provide their most significant gift through their wills, because a gift of that size might not be possible during their lifetime. The most common way of making a transforming gift is to name White’s Residential & Family Services as one of the beneficiaries of your will or estate.

By assigning a percentage of your estate or a specified dollar amount to White’s through your will, you’ll help Indiana children while providing for your family’s future with the remainder of your estate. Another way to accomplish your final goals is to assign a specified amount to White’s. A third way is to assign the residual of your estate to White’s after other specified gifts are completed for your family. Lastly, White’s can be named as secondary beneficiary in the case that your primary beneficiary predeceases you. Estate gifts of any size will someday provide meaningful support and hope to Indiana’s most vulnerable children and families.

Sample Wording for a Will:

For a percentage gift—[Because what goes into an estate fluctuates, this type of wording will provide flexibility and will assure that what is in the estate is divided as you would wish]…

“I hereby give __ % of (my estate or a specific portion of my estate) to White’s Residential & Family Services, Wabash, Indiana, for general purposes (or specified project) to carry out its mission.”

For a residual gift—[This wording assures that everything else that you want to do with your estate will be done, and any remaining would go to White’s]…

“I hereby give the rest of my residual estate, after all other specified gifts and payments are satisfied, to White’s Residential & Family Services, Wabash, Indiana, for general purposes (or specified project) to carry out its mission.”

For a specific gift—[This wording gives a beneficiary a specified dollar amount or property]…

“I hereby give (specific dollar amount or property) to White’s Residential & Family Services, Wabash, Indiana, for general purposes (or specified project) to carry out its mission.”

For a contingent gift—[This wording provides for White’s only in the case of your primary beneficiary of your estate predeceasing you]…

“In the event that any of the above named beneficiaries shall not survive me, or shall die during the administration of my estate, or within ninety (90) days from the date of my death, then I hereby give White’s Residential & Family Services, Wabash, Indiana that beneficiary’s share (or the remainder) of my estate.”

Providing Through Life Insurance Beneficiary Designation

One of the simplest ways to remember the children served by White’s in the future is to designate White’s Residential & Family Services, Wabash, Indiana as one of the beneficiaries of your life insurance policy. This may be in the form of a specific dollar amount or percentage. Your insurance agent can help you.

Providing Through Your IRA or Retirement Plan

Retirement accounts or IRAs should have beneficiary listings in case money remains in the account after the owner passes. Some people assign a percentage of what remains to White’s or other charities. There may be tax advantages for your estate by giving in this way due to White’s non-profit status.

Due to laws changing periodically, there may be other ways to give through your traditional IRA. Call White’s Director of Development at 260-563-1158, ext. 1347 to learn more about current laws and trends in this regard.

Lifetime Income Giving (the following are sub-categories of life income giving):

A charitable gift annuity is a simple contract between you and White’s. In exchange for your irrevocable gift of cash, securities or other assets, White’s agrees to pay one or two annuitants a fixed sum each year for life. The payments are guaranteed by the general resources of White’s. For annuities of $25,000 or more, annuitants may choose to create a named endowment that would forever connect a family name or the name of a loved one to our ministry.

The older the annuitants are at the time of the gift, the greater the fixed income White’s can agree to pay.

Payments are usually made to anniutants in quarterly installments. The minimum amount for a gift annuity is $10,000.

In most cases, part of each payment is tax-free, increasing each payment’s after-tax value. If you give appreciated property, you will pay capital gains tax on only part of the appreciation. In addition, if you name yourself as an annuitant, the capital gains tax will be spread out over many years rather than be all due in the year of your gift.

Please contact the Development Office, (260) 563-1158 ext. 1347, if you are interested in setting up a charitable gift annuity.

Larger gifts, generally $250,000 or more, may be made through a charitable trust. There are different types of trusts that can be designed to best meet the needs of your family and situation. Included are Charitable Lead Trusts, where a gift is made, the interest from which goes to the charity for a specified period of time, after which the remainder returns to the family or other designee. Charitable Remainder Trusts involve making a gift that is invested, with a specified amount returning to the donor during their lifetime and the remainder going to the charity upon their passing.

There are possible tax advantages with annuities and trusts that can be discussed with your estate attorney or CPA. You may call White’s Director of Development, (260) 563-1158 ext. 1347, for general principles, but all trusts should be advised and drawn up by an estate attorney.