Philanthropy has played a key role in the development of the Kendal organization.
Indeed, the Kendal story began with a gift and this spirit of generosity continues to characterize life in Kendal at Ithaca. Our Kendal system motto, “Together, transforming the experience of aging”, has inspired us to create a Philanthropy Committee at Kendal at Ithaca.
The committee involves representation from the Board of Trustees, administration, and the Residents’ Association. Having broad and multiple perspectives helps identify more opportunities. By having a single committee, we hope to advance the concept of ONE KENDAL as we work together to make a difference.
Contribute to the Growth and Success of Kendal at Ithaca
Springing from our strong belief that if Kendal will be a good place to live it must be a good place to work, opportunities for giving benefit both the residents and the staff. In addition, there are outright gifts to benefit community not-for-profit agencies that provide services and charitable gift annuities provide opportunities for anyone wishing to support Kendal and benefit personally. Relatives and friends who recognize the quality of the care their loved one received will often make charitable donations.
Charitable Giving Options
Outright Gifts of Cash or Securities
An outright gift in the form of cash or securities permits an immediate federal income tax deduction. Gifts of long-term appreciated securities may offer additional benefits.
Memorial Gifts
You may wish to make a contribution in honor of someone of significance to you and the community. Perhaps it is a friend, neighbor or someone who has served the community as a board or staff member. All gifts will be acknowledged and recognized.
Corporate Matching
Many corporations match gifts to charitable institutions made by employees; some will match the gifts of employee spouses and retired employees as well. Contact your personnel office for information about your employer’s matching-gift program.
Planned Giving
Thank you for considering a gift to a Kendal Affiliate Community. Your gift helps ensure the vibrancy of our community. Indeed, the Kendal story began with a gift, and this spirit of generosity continues to characterize life at Kendal Affiliate Communities through gifts that have made possible financial assistance for residents, support for staff development and capital improvements to our campus. Gifts of all sizes are needed and appreciated. Kendal Affiliate Communities gladly accepts unrestricted gifts as well as those to support existing funds.
Special Ways to Give
Securities & Gifts from Your IRA
See the difference your generosity makes today. A gift in the form of publicly-traded securities allows for the possibility of an immediate federal income tax deduction. Gifts of long-term appreciated securities may offer additional benefits. Did you know that if you’re 70 ½ or older and own an individual retirement account (IRA) you can make a gift directly from your IRA to a qualified nonprofit organization? A charitable distribution directly from an IRA is not counted as taxable income, and it satisfies the required minimum distributions beginning at 70 ½. You can distribute up to $100,000 through an IRA charitable rollover, or qualified charitable distribution, each year. Gifts made this way can reduce your tax burden and may positively affect your tax bracket.
Legacy Giving
Through a planned gift, your legacy can live on. Planned gifts include bequests through your will, the designation of a Kendal Affiliate Community as a beneficiary on a life insurance policy or retirement account or a charitable gift annuity. All these gifts are structured to meet your specific financial objectives while also benefiting a Kendal Affiliate Community. These gifts can offer significant advantages of favorable income, as well as savings on capital gains and estate taxes. These options allow you to transfer cash real estate or other assets – while in some cases retaining an income from the assets for life.
Bequests
Bequests are not just for the wealthy. Anyone can make an extraordinary gift that can help provide for the financial future of a Kendal Affiliate Community. Planned gifts are often thought of as leaving a legacy that benefits not only you and your family, but also the future of our community.
Include a Kendal Affiliate Community in your will or a codicil to your will. Flexible and revocable, a bequest allows you to make a gift that costs you nothing during your lifetime.
- Give a percentage of the residue of your estate: the amount left after taxes and expenses are satisfied and specific bequests have been paid, e.g., “I give 25% of the rest, residue, and remainder of my estate to a named Kendal Affiliate Community.”
- Give a specific dollar amount or an item of property: e.g. “I give a named Kendal Affiliate Community $25,000” or “I give a named Kendal Affiliate Community 100 shares of IBM stock.”
- Make your bequest contingent: e.g. “I give a named Kendal Affiliate Community $25,000 if my children predecease me.”
Beneficiary Designations
Name a Kendal Affiliate Community as the beneficiary of your retirement account. This is as simple as contacting your financial institution for a change of beneficiary form for your Individual Retirement Account (IRA), 401(k), or 403(b).
Name a Kendal Affiliate Community as a beneficiary of your life insurance policy. For many people, life insurance affords a practical means of making a significant gift through a new or paid-up life insurance policy. If you make a named Kendal Affiliate Community the owner of the policy as well as beneficiary, you may receive current income tax benefits.
Charitable Gift Annuities
Invest in a charitable gift annuity to benefit a named Kendal Affiliate Community. A charitable gift annuity is a contractual agreement between you and a named Kendal Affiliate Community. In exchange for your gift of cash or securities, the Kendal Affiliate Community named provides you and/or another designated person with guaranteed, lifelong annuity payments.
Do you need more tax-free income and would you like to support our mission?
If so, consider a charitable gift annuity that will ultimately benefit a named Kendal Affiliate Community. A gift annuity may be the best way to achieve both objectives—you will earn more tax-free income and benefit a named Kendal Affiliate Community far into the future. A gift annuity gives you a fixed annual income payment for life at a very attractive rate of return. For example, recent rates have offered a 70 year-old a 5.1% fixed annual income. This rate, which rises with age, is based on your age at the time you make the gift. A gift annuity is a simple and powerful tool for charitable giving, particularly in a low-interest rate environment.
Some key advantages include:
- Guaranteed life income for the annuitant, much of it tax free
- Immediate tax savings through a charitable deduction
- The gift is not included in your gross estate for estate tax purposes
A gift annuity is easy to open. All you have to do is decide on the gift amount and work out a few details with a named Kendal Affiliate Community, sign an agreement, and make a minimum gift of $10,000 with a check or stock transfer. Payments to you will be made quarterly or annually, according to your wishes. The named Kendal Affiliate Community’s unrestricted fund or fund of your choice will receive the remainder after your death.
Contact your financial or legal advisor for specific advice and to find out what type of gift is the most advantageous given your current financial circumstances.
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