Nothing could be easier than making a gift of cash to
Habitat for Humanity. It is the most common gift and the
one you probably think of first. All cash donations are
deductible, if you itemize in the year of contribution, up
to 50 percent of your adjusted gross income. Any excess
deductions can be carried forward for the next five years.
You can make year-end gifts, or make a gift in memory or
honor of a friend or loved one, perhaps on the occasion of
a birthday, graduation, anniversary or other special day.
It is the perfect gift for someone who has everything.
Do you have life insurance policies that are no longer
needed? You may either donate the life insurance policy to
us, or simply name us as the beneficiary.
Have you made provisions in your will to benefit us?
Bequests are the most popular type of planned gifts.
Anything you leave to Habitat for Humanity will reduce the
size of your taxable estate while helping a good cause.
You can leave to us a specific bequest of a specified sum
of money or a particular piece of property. Other options
are to leave a percentage of your estate or a percentage
of the residue to us after making provisions for family
and friends. For instance, you could leave us a specific
bequest of $10,000, or you could leave us 10 percent of
the residue of your estate.
Stocks and publicly traded securities are easy to give and
offer great tax advantages. The best stocks to use for
charitable giving are those that have increased greatly in
value, particularly those producing a low yield. If you
have held them for more than one year, you will pay no
capital gains tax on this transaction, and you can deduct
the full fair market value.
Bank Accounts and CDs
Are you aware that you can name us as the
"payable-on-death beneficiary" of your bank accounts or on
certificates of deposit? You own the assets for your
lifetime and have them available for your use. Upon your
death, the assets pass directly to us without going
through probate. Simply visit your bank and request the
necessary forms to name a beneficiary on your accounts or
CDs. You can change beneficiary designations at any
Assets Because our tax laws often subject retirement plan
assets to the highest combined income and estate taxes,
charitable donations of these assets may be the most
efficient estate planning option. Many of the techniques
discussed in this brochure can be used to create generous
charitable gifts, usually at your death, from retirement
plan assets that could otherwise be subject to tax rates
of nearly 65 percent. At the same time, you can pass more
tax-favored assets to your family. Because of the variety
and complexity of retirement plans, you should consult an
attorney or tax specialist for a strategy best suited to