How you can help
Saint Andre Home, Inc.
Gifts of Cash
There are two ways a cash donation can be made to St. Andre Home.
1. Send a check made payable to:
St. Andre Home, Inc.
283 Elm Street
Biddeford, ME 04005-3093
2. Or click on the “Donate Now” button on the Making It Possible page and make a contribution via the internet through our secure partner. Your gift will come to St. Andre Home by using this method and your credit card.
Matching Gifts
Many employers have matching gift programs in which an employee’s contribution may be matched in greater or lesser amounts by the company
Securities
Appreciated Securities are publicly traded stocks that have appreciated in value and have been held in value for more than 12 months. No capital gains tax is paid on the appreciation and the full market value qualifies as a charitable contribution deduction. To maximize these tax benefits, appreciated securities should be given directly to St. Andre Home. Depreciated Securities are publicly traded securities which have decreased in value since purchased. It is best to sell these securities and contribute the proceeds so the capital loss can be deducted by the donor.
Real Estate
A gift of real estate may be advantageous for many donors. A professional appraisal is required and must be dated no earlier than 60 days before the gift is made. Some or all of the property may be deeded outright to St. Andre Home, or transfer ownership while retaining residency rights. St. Andre Home welcomes gifts of real estate and may need to conduct some due diligence reviews prior to accepting a real estate gift.
Personal Property
Upon St. Andre Home’s acceptance, gifts of personal property, such as art or jewelry, may qualify for tax deductions at fair market value.
Planned Giving
The annuity program and charitable trusts provide
opportunities to give and receive.
Gift Annuity Program
The St. Andre Home Gift Annuity Program provides an opportunity to receive a fixed income for life and, at the same time, help St. Andre Home.
A St. Andre Home Annuity is a written contract between the donor and St. Andre Home. Assets are transferred to St. Andre Home in return for guaranteed regular payments for one life or two. Rates are determined by the age of the annuitant(s).
The donor’s gift to St. Andre Home works for him/her during his/her lifetime; it is also possible to have payments over the joint lives of two spouses. Upon the donor’s death, the annuity assets are transferred to St. Andre Home’s Endowment Fund, providing a perpetual gift to support the work of St. Andre Home. In addition to providing financial support to our organization, a St. Andre Home Annuity provides a generous income for life. If the gift is funded with cash, a significant portion of the gift is TAX FREE. In the year the gift is made, the donor receives an immediate tax deduction, the amount of the deduction depends on various factors including the age of the donor and market interest rates at the time of the initial gift. Our experience is that the deduction is generally about one-half the face amount of the annuity gift. If the gift is funded with appreciated securities, there is significant savings on capital gains taxes.
With the volatility in the stock market, this is an excellent time to consider an annuity. We can quickly and easily provide a proposal that shows the tax deductions the donor will receive and the annual amount of his/her lifetime income.
Bequests
This is the most common type of planned gift.
Life Estate Gifts
Donor contributes a personal residence or farm to St. Andre Home and continues to live on the property until death. The property can be retained for one or more lives, or may be retained for a term of years. The gift may save estate taxes and probate costs, and may also produce a current tax deduction for the property’s discounted value.
Life Insurance
One of the easiest ways to make a substantial contribution gift to St. Andre Home is through a life insurance policy. This can be done in two ways. First, you can make St. Andre Home the beneficiary of the policy. For a minimum annual premium, the donor will leave a significant gift and the estate will receive a charitable tax deduction for the face value of the policy. Secondly, the donor can make St. Andre Home the owner and beneficiary of the policy and receive a current deduction for the approximate cash value of the policy. The contributions are made to St. Andre Home and St. Andre Home then may choose to continue to pay the premium on the donor’s policy. He/She still receives annual deductions and leaves a substantial gift to St. Andre Home at the time of his/her death.
Charitable Trusts
Charitable Remainder Annuity Trust
An irrevocable gift that may be funded with cash or appreciated assets. Donor provides a fixed income for life for him or herself, as well as others. This can be done over a specific number of years if desired. Donor receives immediate income tax deduction for creating the Trust. The donor may save estate taxes and probate costs later. When the Trust ends, the remaining assets go to St. Andre Home.
Charitable Remainder Unitrust
An irrevocable gift that may be funded with cash or appreciated assets. The Trust will provide a distribution to the donor (and/or another person) for life, or for a specified number of years (up to 20 years). The donor receives a charitable income tax deduction, capital gains tax avoidance, and estate tax reduction.
All of the above are based on current law, which is subject to change. The above is to provide general information only and does not make any representations or warranties regarding the tax consequences of any particular transactions or for any particular donor. Prospective donors are urged to consult with their own tax advisers.
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