The goal of a legacy or planned gift is to plan your estate and charitable giving in a way that benefits you, your family, and charity. There are many ways you can make a planned gift to charity and receive immediate and lasting benefits.
Gift planning is a process that allows donors to choose the most appropriate gift, for the most personally meaningful and important purpose, in the most advantageous time frame for the donor, the donor’s heirs, and for Ascension Providence and/or Ascension Senior Living Providence Village. Gift planning provides our donors the opportunity to prepare and design their charitable gifts in a way that works best for them.
Leave a legacy and help Ascension Providence and/or Ascension Senior Living Providence Village do the same. To ensure that Ascension Providence and Ascension Senior Living Providence Village will continue to provide Central Texas with world-class care, give a gift that leaves a legacy through planned giving.
If you are interested in learning more about including Ascension Providence and/or Ascension Senior Living Providence Village in your planned giving, please contact [email protected] or [email protected].
Kitty Tunmire and her husband Robert decided to leave a legacy for our community through a gift to the Ascension Providence Foundation in their will, ensuring their children and grandchildren will continue to receive the loving care they deserve right here at home.
“I feel strongly about helping people who don’t have the resources or ability to help themselves,” said Kitty. “My Catholic upbringing and the Church’s Catholic Social Teachings in the dignity of all people is what inspires me to get involved and help where I can in our community.”
Wills & Living Trusts
Will you help bring a healing touch to your community for generations to come? Say “yes” by making a bequest or other planned gift to the Ascension Providence Foundation. It’s as simple as adding this language to your Will:
I hereby direct $___________ (or ____ percent of my residual estate) in cash, securities, or other property to the Ascension Providence Foundation. This gift shall be for the further benefit of _____________[facility or program] and shall be used to __________[purpose].
By including Ascension Providence and Ascension Senior Living Providence Village in your will, you can have the satisfaction of knowing your generosity will leave a lasting legacy of outstanding health care for the communities we serve.
Charitable Gift Annuities
Charitable gift annuities are the easiest way to make a gift to Ascension Providence Foundation and receive income in return. A Charitable Gift Annuity is a simple gift agreement between you and Ascension Providence Foundation that gives you a guaranteed monthly income while providing a sizable gift to Ascension Providence Foundation.
Charitable gift annuities provide fixed annual payments for the lifetime of the annuitant. Annuity rates are based on the age of the annuitant(s) and can be as high as 9%. You can also defer the annual payments to a later date specified at the time the gift is made. The deferral results in a higher annuity rate.
Gift annuities are attractive to donors who want to convert appreciated stocks into a reliable source of income or increase their income from investments like CDs or money market funds.
Benefits of creating a charitable gift annuity include:
- Potential for increased income
- Partially tax-free income
- Receive a charitable income tax deduction
- Bypass capital gains taxes that would have been due upon the sale of the stock
- Remove the property from your taxable estate
Charitable Gift Trusts
Charitable Remainder Trusts are a popular way to make a gift and receive income in return. A donation of cash, stock, real estate or other assets is invested, producing income for the donor or other chosen beneficiaries for a fixed period of years or their lifetime. When the donor dies, the Ascension Providence Foundation keeps all of the remaining assets. The donor is allowed to claim a charitable income tax deduction for the estimated portion of the assets that will ultimately come to the Ascension Providence Foundation.
There are two types of charitable remainder trusts: unitrusts and annuity trusts. With a basic unitrust, the donor receives one or more yearly payments equaling a fixed percentage of the trusts value as assessed each year. With a net-income unitrust, the donor receives only the income earned by the trust, even if the trust earns less than the payout rate. However, the trust can be set up to include a “make-up provision,” which allows the donor to make up the lost income, provided the trust earns more than the payout rate in future years.
With an annuity trust, the donor receives a yearly fixed payment equaling at least 5% of the value of the asset at the time the trust is funded.
Benefits of creating a charitable trust include:
- Supplement your retirement income
- Receive a charitable income tax deduction
- Bypass capital gains taxes that would have been due upon the sale of the property
- Remove the property from your taxable estate
Gifts of Real Estate
The Ascension Providence Foundation accept gifts of real estate and other property subject to approval by the Foundation’s Board of Trustees.
Benefits of making a gift of real estate include:
- Receive a charitable income tax deduction for the fair market value of the property
- Bypass capital gains taxes that would have been due upon the sale of the property
- Remove the property from your taxable estate