While cash gifts are the most popular, there are other creative and exciting strategies available that can provide you with increased income and tax benefits in addition to supporting Covenant House Pennsylvania.
Pledges: A pledged gift can be made over several years. You can use a Letter of Intent to express your chosen installment schedule. For most individuals, each payment on your pledge is deductible in the year it is paid.
Securities: Appreciated property provides a great gift opportunity. Capital gains tax can be avoided when appreciated securities or real estate are contributed to CHPA. Have your broker call our Corporate Headquarters at 212-727-4110.
Bequest: Make a bequest and include CHPA in your Will or name CHPA as a beneficiary or successor beneficiary of a portion of your estate. Your bequest can be a specific dollar amount, a specific asset such as personal property, real estate or securities, or a percentage of your gross estate or residual estate. Your gift would entitle your estate to a tax deduction for the full value of those assets bequeathed to Covenant House Pennsylvania. Tell us about your intentions and we will enroll you in the Cornerstone Society.
Life Insurance: If you own a life insurance policy that you no longer need, you might consider making Covenant House Pennsylvania the sole owner and beneficiary of the policy. You would receive an income tax deduction for roughly the cash surrender value of the policy. If you give a policy that is not fully paid, you may consider continuing to pay the premiums. You may qualify for a tax deduction for the annual premium amount.
Charitable Gift Annuity: A charitable gift annuity is a simple agreement between you and Covenant House. A gift annuity provides a fixed income for the lifetime(s) of one or two annuitants. The annual amount paid is determined by rates recommended by the nationally recognized American Council on Gift Annuities. The older the annuitant, the higher the level of income.
Deferred Gift Annuity: For younger donors, a deferred gift annuity offers increased income and tax benefits. All the features and benefits of a gift annuity are provided with a deferred gift annuity, although income is delayed until a future date you choose, often at your retirement.
For information about these and other planned giving opportunities, such as Life Income Trusts, Charitable Lead Trusts, Charitable Remainder Trusts, IRAs and other Qualified Retirement Plans, please contact the Covenant House Planned Giving office toll-free at 1-866-268-4687.
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