Giving A Gift
Tax-wise Tip: During 2006 and 2007, Congress is allowing individuals, age 70 ½ with traditional or Roth IRA’s to make tax-free gifts directly to qualified charities. To qualify, gifts must be made directly to the 501c charity. Congress has taken this important step to strengthen America’s retirement system while also encouraging additional charitable giving. To benefit from this opportunity you must complete your gift transfer before December 31, 2007. If you would like further information please contact the Kemmerer Village Development Office at (217) 226-2132.
Credit Card Donations are now possible by calling Debbie at (217) 226-2130 with your credit card information
Gifts of Cash. There is no easier way to garner a charitable deduction for 2007 – and support us at the same time – than by simply writing a check! Make sure your envelope if postmarked by December 31; if it is, your gift will qualify as a 2007 gift even if it is not received by us until the first week of 2008.
If you itemize, your outright gifts of cash are fully deductible for federal income tax purposes up to 50% of your adjusted gross income. If your total gifts should exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years.
In Memory Or Honor of Those We Care For
There are occasions of joy and sorrow in the lives of our family and friends that call for a response from us. A Memorial Gift or an Honor Gift to Kemmerer Village is a way to express love and respect at appropriate times. Your gift, large or small will help provide for the daily care, food, clothing, medical care, educational needs, and Christian ministry.
Memorial Giving
Memorial Gifts can be given in memory of a deceased friend or family member, keeping their caring influence alive while also providing a life changing opportunity for a child at Kemmerer Village... An acknowledgment of the gift will be sent to the family of the deceased, and a remembrance will be listed in the next issue of our newsletter, the Kemmerer Voices. The amount of the gift is not shared.
Making an Honor Gift
Living Honor Gifts are a tribute to someone still here to enjoy your love and appreciation through a gift for the children at Kemmerer Village. They may be given to recognize special occasions such as a Birthday, Anniversary, Graduation, Retirement, to express gratitude, or "just because." The individual receiving the tribute will receive a written acknowledgment of the gift, and the occasion will be listed in the next issue of the Kemmerer Voices. The amount of the gift is not shared.
Matching Gifts
Many employers sponsor matching gift programs and will match any charitable contributions made by their employees.
Check to see if your company participates in this program, request a matching gift form from your employer, and send it completed and signed with your gift. We will do the rest. The impact of your gift to our children may be doubled or possibly tripled! Some companies match gifts made by retirees and/or spouses.
Year-End Gift Ideas
While there are a variety of ways you can help vulnerable children, your tax-deductible gift to Kemmerer Village is one of the easiest ways for you to ensure that these children get the assistance they need and deserve.
You may want to support Kemmerer Village annually with a gift of cash or stock. These gifts are put to work immediately to help ensure the continuation of critically needed programs and services.
Year-end giving is as easy as (1) making a charitable gift; and (2) saving taxes. We’d like to make it even easier with this information on some of the best ways to save – and give.
The tax laws intentionally encourage charitable giving. Because of the income tax charitable deduction, individuals who make their gifts by December 31 and itemize can significantly reduce their income taxes for 2007. Example: If you make a charitable gift of $10,000 in 2007, you can save $3,300 in taxes if you are in the 33% tax bracket. And the higher your tax bracket, the more money you save with a charitable gift.
Giving is, of course, much more than tax brackets and charitable deductions. Philanthropy provides the meaningful difference in what we can do. This information is only a brief introduction to some of the best tax-advantaged methods of giving. We would be pleased to provide you with further information. Also, we urge you to discuss your 2007 year-end tax planning with your accountant or other professional advisor.
Gifts of Stock. Year-end 2007 may be an excellent time to consider a gift of stock. Giving long-term appreciated stock offers you a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in value of your stock. In addition, you receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes the value of such gifts may be deducted up to 30% of adjusted gross income with an additional five-year carry forward. Example: If you purchased stock many years ago for $1,000, and it is now worth $10,000, an outright gift of that stock to us would result in a charitable deduction of $10,000. In addition, you permanently avoid paying capital gains tax on the $9,000 of appreciation.
Gifts of Real Estate. If you have owned your home, a vacation home, acreage, or a farm for many years, a charitable gift of that real estate can be especially tax-advantageous.
The property may have so appreciated in value over the years that its sale would result in a sizeable capital gains tax. If given to Kemmerer Village instead, you avoid the tax and, at the same time, realize a charitable deduction for the full fair-market value of the real estate.
You may also wish to consider a gift of your personal residence or farm, reserving the right to continue to live in the house or farm the property for life (and, if applicable, the lifetime of your surviving spouse). Through such an arrangement, you will be entitled to a current income tax deduction for a portion of the fair market of the property.
Gifts of Life Insurance. If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a 2007 year-end charitable gift! To receive a charitable deduction, name Kemmerer Village as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, if annual premiums are still to be made and you continue to pay them, those premiums will become tax deductible each year. (It’s easy to contribute a life insurance policy to us. Just check with your life insurance agent for details on which forms to complete.)
Life Income Gifts. If you are considering a major gift, your gift of cash or stock in the form of a
“life income gift” can significantly increase your income! A life income gift allows you to transfer assets now, and yet continue to receive income from the cash, stock, or other property contributed. A life income gift can allow you to: (1) increase your income for life; (2) receive a generous charitable contribution deduction in 2007; and (3) if you contribute stock, avoid any capital gains tax on the appreciation!
A life income gift is often made through a trust arrangement called a “unitrust” or an “annuity trust”. With a unitrust, you and/or your spouse (or another beneficiary) receives annually a fixed percentage of the fair market value of the assets in the trust. The income received will vary from year to year, based upon how the trust’s investments perform. With an annuity trust, you and/or your spouse (or another beneficiary) receives a fixed amount from the trust each year. This amount is agreed upon when you create the trust; it stays constant, no matter what happens with the stock market or interest rates.
Planned Giving
Philanthropy is the act of donating money, goods, time or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective. Over the past 93 years, Kemmerer Village has been the recipient of all of the above with our defined objective to improve the lives of the children and families in our care. Financial giving has always been vital to this mission. Throughout our history there have been lean times where those gift, large and small kept the lights and the heat on for the children in our care. Planned Giving will help make sure that Kemmerer Village is always there to help. You may want to include the Kemmerer Village in your estate planning. Gifts like this offer you an opportunity to have your ideals and values influence the lives of children in perpetuity.
Quote from a Kemmerer Village supporter:
“My grandmother gave, my mother gave
and now I am giving to the children at
Kemmerer Village.”
Bequests. While you’re considering your 2007 income tax savings, this may also be a good time to consider long-term tax savings. The federal estate tax can still take approximately 50% of one’s estate at the time of death. That’s a higher tax bite than the income tax! It definitely pays to do some advance planning with your attorney and other professional advisors.
We hope you will consider a charitable bequest in your will that would benefit the children cared for today and those of future generations.
For Further Information. We would be pleased to provide you with additional information on any gifts you may be considering. Thank you for your support at year-end – and throughout the year!
If you would like further information on any of these giving options, please contact the Development Office at (217) 226-2123.
Volunteer Opportunities at Kemmerer Village
Volunteering at Kemmerer Village has through the years and continues today to provide support for this mission of helping children and families. Volunteers serve an important purpose in several areas. We invite you to call for information on any of the opportunities listed below.
The Board of Directors of Kemmerer Village is composed entirely of volunteers. The Board may have 25 members. Seven members represent the Southeastern Illinois and Great Rivers Presbyteries each. The Board meets six times a year.
The Kemmerer Village Auxiliary has been in existence since 1972 to serve as a liaison, interpreting the work and mission to the churches, and helping as other needs arise. In the 30 years of its existence, the Auxiliary has provided for everything from suitcases to cottage parties to alter candles and communion platen and challis. The Auxiliary meets the first Wednesdays of September, November, March, and May.
Between May and September, congregations from Illinois, Indiana, Missouri, Iowa, and other states send Workgroups to the Village. These workgroups range in age from junior high through octogenarians. The work performed ranges from pulling weeds and trimming bushes, to painting, to installing drywall or siding. The age/skill level of the members of the group, the work that needs to be done on campus, and the weather are all considered in selecting type of work each group performs. Some groups have chosen to put on a concert, conduct a Bible study, or lead informal worship for our residents. Please call for a copy of work group guidelines at (217) 226-2130.
Individuals, or groups, can also Volunteer from Home. We would love to discuss any ideas you have as to how you could support our ministry. Current activities include sending birthday and/or holiday greeting cards to the children; making the quilts that we present to each child on his or her first birthday on campus; and, collecting soup labels and cereal box tops. We can also use more volunteers in each of these activities.
For more information, or to discuss other ideas you may have, please contact Alice at the Kemmerer Village Development Office at 217-226-2132 or kvdevelopment@kv.christian.k12.il.us
Campbell’s Soup® Labels or General Mills® Box Tops
Campbell’s Labels- We collect the UPC with the little Campbell’s Logo attached, as you see below. Campbell’s will no long accept the full front label panel. Labels are used to collect points for ordering school, cottage and recreational items. In the past we have ordered encyclopedias, reference books, computers, educational software, balls and games. You can learn more about this program at the Campbell’s web site labelsforeducation.com.
General Mills® Box Tops for Education
To date we have accumulated approximately $9000.00 from this program to help with our school budget. Money from this fund is used for the Accelerated Reading Program. Children are learning to read who previously had little or no interest in reading. You can find more information at the General Mill Box Tops for Education web site boxtops4education.com.
Below is an example of what to save from General Mills Products
Please call the please contact Alice at the Kemmerer Village Development Office at (217)226-2132 if you have questions regarding any of these giving opportunities. Thank you!
KV Auxiliary