Planned Giving & Bequests
According to a report from the Rochester Area Community Foundation and ACT Rochester, Rochester is the fifth poorest city in the U.S. And only three major cities have higher child poverty rates.
Even though community leaders are trying to find a solution, it’s clear that poverty will continue to threaten the lives of our most vulnerable citizens for years to come. And that’s exactly why it’s so important to ensure the long-term survival of The House of Mercy, the only organization in our area that never closes its doors on people in need.
So please consider a bequest or planned giving option to help us continue our mission. Whether it’s a direct gift of funds, real estate, securities, life insurance, or anything else, you will make a valuable contribution to thousands of people in our area who struggle to survive every day.
Planned giving can take various forms. Many options are available for you to help the House of Mercy to continue its services in the future. Your gift, transferred at some date, would direct some of your treasures to help provide services and benefits to the poor. Below are some examples.
Your will is a meaningful way to make a gift of lasting value to the House of Mercy. Through a bequest provision, you can designate a specific amount of money, a percentage of your estate, or the remainder of your estate after other bequests are satisfied. Adding an amendment to an existing will is a simple process that begins by making your intentions known to your attorney.
Outright Gift of Funds
A direct gift can provide immediate financial support. Cash, CDs and publicly traded securities are the most common types of direct gifts. Your gift is tax deductible and becomes immediately available to support the important work of the House of Mercy.
Almost any property, a home, office building or land, can become a gift to the House of Mercy. You can take a tax deduction of the full fair market value of the real estate donated and also avoid any capital gains tax. It’s also possible to retain life interest and receive a partial tax deduction while you continue to use the property.
If you own long-term securities, (stocks, mutual funds or bonds) that have appreciated in value, you may prefer to contribute securities. In this way, you can avoid paying capital gains tax that would be due if you sold the securities. You may also take a tax deduction for the current fair market value of the securities given.
Life insurance may be an effective means of giving if you own a policy that is no longer needed for its original purpose. In addition, those who qualify for low-cost premiums may find it more affordable and convenient to plan a significant gift to the House of Mercy using life insurance. By naming the House of Mercy the owner and beneficiary of a life insurance policy, you can take an immediate tax deduction for the accumulated cash value of the policy, (if any) and a future deduction for any subsequent premiums you pay.
Your planned gift will help to lift up the lives of the poor. It will help ensure the tradition of caring you have helped build and will continue to be a lasting imprint. Your donation of a planned gift will be put to the best possible use. The Board of Directors and the Finance Committee under the leadership of the Director will provide the checks and balances for all budgets and planned spending to ensure the best and most cost-effective use of your gift.
To start the planned giving process, please contact:
Director of Development & Communications
585-546-2580 ext. 106