Planned Giving and Edowment
By remembering United Way of the Laurel Highlands in your overall estate or financial plans, you affirm your belief in our mission to harness the caring power of community. There are many ways to include charitable gifts in your estate and financial plans. You can plan a gift to benefit us today or after your lifetime, and there are often tax benefits for you.
Direct gifts can be made by check or online to either the annual campaign or endowment. Additionally, should you opt to include the United Way of the Laurel Highlands in your will, we would love the opportunity to say thank you. We are always open to exploring what giving tools may suit your financial and estate planning goals best.
For a comparison guide to gift options, please review our benefits chart.
How it works:
1. You deed your home, a commercial building, or investment property to United Way of the Laurel Highlands.
2. United Way of the Laurel Highlands may use the property for its own purposes, or, more likely, will sell it and use the proceeds as you have directed.
Benefits:
• You receive an income tax deduction for the fair market value of the real estate, no matter what you originally paid for it.
• You pay no capital gains tax on the transfer.
• You can direct the proceeds from your gift to a specific fund or purpose.
• You have the satisfaction of supporting United Way of the Laurel Highlands.
How it works:
- If you are 70 1/2 years old or older, you can take advantage of a simple way to give to United Way of the Laurel Highlands and receive tax benefits in return.
- You can give up to $100,000 from your IRA directly to United Way of the Laurel Highlands without having to pay income taxes on the money.
Benefits:
- Your gift will be put to use today, allowing you to make a difference now.
- You pay no income taxes on the gift. The transfer generates neither taxable income tax nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
How it works:
1. If you are 70 1/2 years old or older, you can take advantage of a simple way to give to United Way of the Laurel Highlands and receive tax benefits in return.
2. You can give up to $100,000 from your IRA directly to United Way of the Laurel Highlands without having to pay income taxes on the money.
Benefits:
• Your gift will be put to use today, allowing you to make a difference now.
• You pay no income taxes on the gift. The transfer generates neither taxable income tax nor a tax deduction, so you benefit even if you do not itemize your deductions.
• If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
Contact your IRA account provider or the United Way of the Laurel Highlands’s Office at (814) 535-2563 or email admin@uwlaurel.org.
How it works:
1. You can provide now for a future gift to United Way of the Laurel Highlands by including a bequest provision in your will or living trust.
2. United Way of the Laurel Highlands eventually receives the gift and uses it for the purpose you specified.
Benefits:
• Your assets remain in your control during your lifetime.
• You can direct your bequest to a particular purpose (be sure to communicate with United Way of the Laurel Highlands to ensure your gift will be used as you intended).
• There is no upper limit on the estate tax deductions that can be taken for charitable requests.
• You have the satisfaction of knowing that your gift will eventually benefit United Way of the Laurel Highlands.
How it works:
1. Retirement plan assets will be distributed upon your passing through a beneficiary designation form, not through your will.
2. You name United Way of the Laurel Highlands as a beneficiary of your IRA, 401(k), 403(b) or other qualified retirement plan, perhaps secondary to your spouse. After your lifetime, your plan pass is tax-free to your spouse and provides income for his or her lifetime. Your spouse names United Way of the Laurel Highlands as the primary beneficiary on the retirement plan.
3. After your spouse’s passing, 100% of your plan passes to SJU tax free and will be used as you directed. If it was left to a person(s), up to 70% could be taken as personal income and estate taxes.
Benefits:
• You can continue to take withdrawals during your lifetime.
• Should your spouse be your plan’s primary beneficiary, he or she will take withdrawals during his or her lifetime after you are gone.
• You can escape both personal income AND estate tax levied on the balance left in your retirement account by leaving it to United Way of the Laurel Highlands.
• Give the most-often taxed asset in your estate to United Way of the Laurel Highlands, and leave more favorably taxed property to your heirs.
• You have the satisfaction of knowing you will eventually support United Way of the Laurel Highlands.
How it works:
1. You transfer cash, securities or other appreciated property into your choice of charitable remainder trust.
2. If you choose a unitrust, it pays a percentage of the value of its principal (minimum: 5%), which is revalued annually, to you or to beneficiaries you name for your lifetime or their lifetimes or for a term of years. If you choose an annuity trust, it makes fixed annual payments to you or to beneficiaries you name.
3. When your trust terminates, the remainder passes to United Way of the Laurel Highlands and is used in the manner you specified in the trust agreement.
Benefits:
• You receive an immediate income tax deduction for a portion of your contribution to the trust and you pay no upfront capital gains tax on appreciated assets you donate.
• You or your designated beneficiaries receive income for life or a term of years.
• If you choose a unitrust, you may be able to make additional gifts to the trust as your circumstances allow and qualify for additional tax deductions.
• You have the satisfaction of making a significant gift that benefits you or your designated beneficiaries now and supports United Way of the Laurel Highlands in the future.
How it works:
1. You deed your home, a commercial building, or investment property to United Way of the Laurel Highlands.
2. United Way of the Laurel Highlands may use the property for its own purposes, or, more likely, will sell it and use the proceeds as you have directed.
Benefits:
• You receive an income tax deduction for the fair market value of the real estate, no matter what you originally paid for it.
• You pay no capital gains tax on the transfer.
• You can direct the proceeds from your gift to a specific fund or purpose.
• You have the satisfaction of supporting United Way of the Laurel Highlands.