These gifts often do not affect cash flow during lifetime.
Bequest
Making a Gift Through Your Will or Estate
A bequest – a gift made through your will or living trust – can often be the easiest gift to make to
Hospitality House of Tulsa because it costs you nothing during your lifetime. Plus, it’s “revocable,” so you can always update or change it if your circumstances change. If you already have a will or living trust, you can easily amend it to include a bequest to Hospitality House of Tulsa with a simple codicil. (We can provide you with sample bequest and codicil language.)
How it Works
Bequests are one of the most popular and impactful gift plans because they are designed to fit any individual’s situation single, married, child-free or multi-generational, wealthy or not. Often a bequest is simply a set amount or percentage of an estate set aside to make a gift to
Hospitality House of Tulsa. Do you already have a will and do not want to pay your attorney to change it? In most states you can execute a simple codicil (or will addition) to make the gift in a cost-effective manner.
Appreciated Securities
Buy Low. Give High.
You also can transfer publicly traded securities that you have owned for more than one year to Hospitality House of Tulsa. The securities are sold, and the proceeds are applied to the charitable purpose(s) that you designate. You can then claim an income tax charitable deduction based on the fair market value of the securities and also avoid capital gains tax on the securities’ appreciation.
How it Works
This plan suits those who hold highly appreciated securities for a number of years or those who do not plan on selling the stock.
Life Insurance
Large Gift. Little Cost.
Transformative gifts can be made when you designate Hospitality House of Tulsa as a beneficiary of your life insurance policy. When the time comes, Hospitality House of Tulsa receives the proceeds. Thus, you can provide a large gift to benefit Hospitality House of Tulsa for relatively little cost. The policy proceeds distributed to Hospitality House of Tulsa will be exempt from estate tax.
How it Works
Great for those individuals who hold a current life insurance policy and do not want to affect their current cash flow. This type of gift also includes the flexibility to change your beneficiary designation later if circumstances change.
Gifts of Real Estate
Tired of Maintaining It?
Real estate makes a real great gift. When you deed property to Hospitality House of Tulsa, you receive an income tax charitable deduction for the value of the contribution. Plus, you can elect to make an outright donation, or use the value to fund a gift that pays you income. Either way, you make a generous gift to Hospitality House of Tulsa and those it serves.
How it Works
People whose property will face significant capital gains tax and who do not need (or want) to pass their property on to an heir are the best fits for making a real estate gift. Also perfect for properties that are tough to maintain or vacation homes one no longer wants.
Personal Property
Paintings? Antiques?You can make a significant gift by transferring a painting, antiques, collectibles – any “appreciated stuff” – to Hospitality House of Tulsa. In return, you receive an immediate income tax deduction, and pay no capital gains on the appreciation. Hospitality House of Tulsa can either hold the property, display it, or sell it and apply the proceeds to the purpose you choose.
How it Works
Donors who have appreciated property and no heirs, or no interested heirs, are the best match for this type of gift. In some cases, prospects have heirs, but they own a piece of appreciated personal property that their heirs do not want or cannot use.
Retirement Plans
Avoid heavily-taxed assets to heirs.
Donor names Hospitality House of Tulsa as the beneficiary of a portion or all of his/her IRA, 401(k), or other retirement account. When the time comes, the amount designated passes to Hospitality House of Tulsa income- and estate-tax free.
How it Works
Someone who holds a 401(k), IRA, or other retirement plan and does not need the additional income, and want to give the most heavily-taxed assets in his/her estate to Hospitality House of Tulsa and leave more favorably-taxed property to his/her heirs.
Charitable IRA Rollover
A “Tax Free” Gift?
The IRA charitable rollover allows taxpayers age 70½ or older to make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to Hospitality House of Tulsa. The funds should be directly transferred to Hospitality House of Tulsa and not withdrawn first.
How it Works
This plan is typically for a person who does not need the additional income and wants to avoid “double taxation” on the minimum required distribution (MRD).