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Planned Giving

Planned Giving

In addition to direct cash donations, there are many other ways donors can support Little Friends financially. Planned Giving enables donors to make larger gifts to charitable organizations than they could make from ordinary income.  Some planned gifts provide life-long income to donor. Other gift plans use estate and tax planning to provide for charity and heirs in ways that maximize the gift and/or minimize its impact on the donor’s estate.

The benefits of funding a planned gift can make this type of charitable giving very attractive to both donor and charity and may include:

Creating a will or trust is a smart way to provide for your loved ones and the causes you care about. A gift in your will, also known as a charitable bequest, allows you to make a significant impact in supporting Little Friends while retaining control of your funds during your lifetime.

How you benefit:

  • You can provide for your loved ones and the causes you care about.
  • You may leave a gift of any amount; there is no minimum gift size.
  • You can name your gift in honor of a loved one.
  • You are never locked in — you can change your mind if your circumstances change.

One of the most tax savvy ways to give, with the benefit of avoiding capital gains tax, while still having the ability to utilize the tax deductions the year the donation was made.  Below are the steps included in stock donation:

Decide what shares of which stocks you want to donate:

  • Stocks from publicly traded companies
  • Bonds
  • Exchange-traded funds (ETFs)
  • Mutual funds

Need to know:

  • Name of stock
  • Ticker symbol (if on the public stock market)
  • Number of shares you are interested in donating

Stock Donation Forms

Provide the following on the appropriate stock donation forms (Ensure you fill out these forms with a black ink pen. Mail or fax your transfer request to your brokerage’s address (will be listed on your forms). Forms must be completed by December 31 to be eligible for tax deductions for the current tax year)

*Recommendation – While December 31 is the legal deadline for these gifts we recommend checking with your financial advisor as some facilities require the submission of these gifts in November up to the first week of December.

  • Nonprofit Name: Little Friends Inc.
  • EIN: 36-2698644
  • Little Friends Inc brokerage firm information (receiving institution): Mary Esser
  • Account number: 954027272
  • DTC number: 0188
  • Brokerage firm name: TD Ameritrade Clearing, Inc. (TD Ameritrade will merge with Charles Schwab)
  • All the above information is subject to change once the merger occurs

Retirement gifts are one of many tax-wise ways to donate to Little Friends. Some people choose to donate their retirement assets to a nonprofit simply because the transferring of these assets, to anyone other than a spouse, is one of the most heavily taxed of all assets.  This means this gift will have a bigger impact on a non-profit because 100% of the gift supports the non-profit rather than the gift being heavily taxed before benefiting your heirs.   

Below are the steps included in retirement donation:

  • Add Little Friends Inc. as the beneficiary of your IRA, 401K or other retirement plan.
  • Pass the balance of your retirement assets to Little Friends Inc. by contacting your plan administrator.
  • Inform Little Friends Inc. of your plan to give. *The administrator of your plan is not obligated to notify us.

IRA

  • If you are 70 ½ years old, you can give up to $100,000 per year to Little Friends Inc. without having to pay income taxes on the money. This gift may qualify for your required minimum distribution.
  • Provide the following information to the institution managing your IRA: Little Friends, Inc. Attn: Agency Advancement, 27555 Diehl Road, Warrenville, IL 60555. Tax ID: 36-2698644

A donor-advised fund is like a charitable investment account for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth, and you can recommend grants to virtually any IRS-qualified public charity. Below are the steps included to utilize a donor advised funds: 

  • Establish a Giving Account and then make a tax-deductible donation. (Cash, stocks, or non-publicly traded assets i.e., private business interests, cryptocurrency, and private company stock to be eligible for tax deductions immediately.
  • Little Friends Inc. will invest your donation.
  • Donor receives payments on a fixed schedule per the terms of the annuity agreement
  • Little Friends Inc. Receives the balance of the invested funds upon the donor’s passing.

A charitable gift annuity is a contract between a donor and a charity with the following terms: As a donor, you make a sizable gift to charity using cash, securities or possibly other assets. In return, you become eligible to take a partial tax deduction for your donation, plus you receive a fixed stream of income from the charity for the rest of your life.  Below are steps involved in donating using a charitable gift annuity:

  • First, donate to Little Friends Inc. This gift is then set aside in a reserve account and invested.
  • Based on the donor’s age when the donation is made, the donor will receive a fixed monthly or quarterly payout for the rest of their life.
  • At the end-of-life, Little Friends Inc. receives the remainder of the gift.

A charitable remainder trust is an Irrevocable trust that generates a possible income stream for the donor and/or beneficiaries of the trust. The remainder of this donated asset will be attributed to Little Friends Inc.  Below are the steps included to establish a charitable remainder trust: 

  • A gift of cash or other property is made to an irrevocable trust.
  • Donors will receive an income stream from the trust for a limited period of predetermined years and Little Friends Inc. will receive the remaining trust assets at the end of the trust term.
  • Donors will receive an income tax charitable deduction when the trust is funded.

Many companies encourage their employees to donate to their favorite charities by matching their contributions. That means you can make your donation go even further, with the help of your employer. To find out if your company will match your donation to Little Friends, please contact your Human Resources department. Below are the steps for making a matching gift:

  • Obtain a matching gift form from your human resources department.
  • After you have made your donation via check, cash, or online, fill in the Employee section of the form and mail to: Little Friends, Inc. Attn: Agency Advancement, 27555 Diehl Road, Warrenville, IL 60555
  • We will complete the form and return it to your employer’s office for processing. The company will send any additional required paperwork directly to Little Friends.

Click on any of these gift types for more detailed information.  Please contact our Agency Advancement Team to further discuss your gift.

Gift acceptance policy:  Any non-standard contributions must be submitted to the board for approval. To ensure a timely review, please submit any anticipated contributions prior to finalization of estate plans.

Legal Disclaimer: All the information above is presented solely as general education information. Please seek the advice of a legal professional or professional estate planning entity.

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