Planned Giving - The Allentown Rescue Mission Legacy Circle | Allentown Rescue Mission

(610) 740-5500 355 W. Hamilton Street, Allentown


Planned Giving - The Allentown Rescue Mission Legacy Circle

Charitable Planned Giving Options

Outright Gifts

  • Cash: Gifts of cash are used for immediate purposes and if made during your lifetime, a cash gift will provide an opportunity for an immediate federal income tax deduction.
  • Stocks, Bonds or Mutual Funds: Appreciated securities, held for at least a year and a day, make an ideal gift. These assets can be transferred easily to Allentown Rescue Mission and an immediate federal tax deduction can be realized for the fair market value of the assets on the date of the gift. Plus, there is the possibility of capital gains taxes. Transfers of mutual funds may take awhile, so plan ahead for year-end gifts. Like cash, such assets can also be given to Allentown Rescue Mission by a specific charitable bequest provision in your will.

Simple Will

The most popular form of planned giving is to simply include in your will that the Allentown Rescue Mission will receive a percentage or dollar amount of your estate. This enables you to reduce estate taxes while supporting the community.

Real Estate

A more unusual but often quite valuable charitable gift is the transfer of your primary or vacation home, commercial real estate, farm or undeveloped land. You can make the gift of real estate outright or make it contingent on using your residence during your lifetime. Gifts of undivided interest of "bargain sales" (part gift, part sale) can be arranged as well. For guidelines regarding a gift of real estate, please see Hal Warner.

Closely Held Stock

Allentown Rescue Mission will accept gifts of C-corp or Subchapter S stock. The donor may be eligible for a charitable deduction for the current value of the stock. You must have a qualified appraisal for gifts of $10,000 or more. Should you or the corporation wish to repurchase the stock at a later date, you may be able to do so, thus establishing a new cost basis. (Note: Allentown Rescue Mission is under no obligation to hold or to resell the stock to you.)

Life Insurance

If you have a life insurance policy that you or your family no longer needs, you may want to use it to fund a charitable gift. Whole life policies that have a cash surrender policy are the most popular gift. By naming Allentown Rescue Mission as both the irrevocable owner and the beneficiary, you may be entitled to a federal income tax deduction equivalent to the policy’s replacement cost (cost value) or the cost basis (total premiums paid less dividends received) – whichever is less. The Allentown Rescue Mission may then hold the policy intact or cash it. You may also use life insurance to make a charitable bequest. By simply naming Allentown Rescue Mission as the final beneficiary of the policy, the death benefit will go directly to Allentown Rescue Mission. Your estate may receive a federal charitable tax deduction.

Personal Tangible Property

You can make a gift of almost any item of value, such as artwork, books, musical instruments, coin collections, silver or gold valuables, furniture, etc. In many cases the property must have a "related use" to Allentown Rescue Mission or the charitable deduction will be restricted to the original cost rather than the appreciated value. Items or collections with a value of $5,000 or more require a qualified appraisal to substantiate a federal income tax deduction.

Retirement Plan Assets

Gifts of retirement plan assets (e.g., IRA, pension, Keough, 401(k), 403(b) plans) are heavily taxed if passed to an heir other than your spouse. Therefore, these assets are an excellent choice for a charitable bequest. Your estate may receive a charitable deduction and you may conserve other assets (such as highly appreciated stocks) for transfer to your heirs.

Other Assets: Other assets can also be given. Just ask Hal Warner for details.

Use DAF Direct to make a grant to the Mission from your donor-advised fund.

Planned gifts are the ultimate expression of confidence in the Allentown Rescue Mission. Just as the history of the Mission spans generations, the members of the Allentown Rescue Mission Legacy Circle are supporting future generations who will need our services. For more information or to let us know that you have remembered us in your estate plan, please call Hal Warner at (610) 740-5500 ext 323.

The Mission has a donation account at Smith Barney in Allentown. Our account representative is Stella deSantis, 610-391-6325. And remember, your tax advisor can help you determine the potential tax benefits of your gift.


For More Information on Planned Giving Please Complete This Form: