Gift Plans
Know that your gift will benefit Operation Worship tomorrow just as you intend it to today.
Bequests
How it Works
You can provide now for a future gift by including a bequest provision in your will or revocable trust.
Benefits
- Your assets remain in your control during your lifetime
- You can modify your bequest if your circumstances change
- You can direct your bequest to a particular purpose
- There is no upper limit on the estate tax deductions that can be taken for charitable bequests
Charitable Bargain Sales
How it Works
You sell your residence or other property to Open Window Foundation for a price below the appraised market value, resulting in a transaction that is part charitable gift and part sale.
Benefits
- You receive an immediate income tax deduction for the appraised market value of the portion of the property you donated
- You pay no capital gains tax on the donated portion of the property
- You use cash from the sale portion to retire a mortgage or purchase other property
- You can provide now for a future gift by including a bequest provision in your will or revocable trust
Charitable Gift Annuity
How it Works
A contractual arrangement to pay a fixed sum of money to an individual at regular intervals. The charitable gift annuity is a gift to us that secures fixed lifetime payments to the benefactor and/or another individual.
Benefits
- You transfer cash or securities to us
- We pay you, or up to two annuitants you name, a lifetime annuity
- The principal passes to Open Window Foundation when the contract ends
Deferred Gift Annuity
How it Works
You transfer cash, securities or other property to Open Window Foundation. Beginning on a specified date in the future, we begin to pay you, or up to two annuitants you name, fixed annuity payments for life. The principal passes to us when the contract ends.
Benefits
- Deferral of payments permits a higher annuity rate and generates a larger charitable deduction.
- You can target your annuity payments to begin when you need them, such as retirement or when a grandchild needs help with tuition payments.
- The longer you defer payments, the higher the effective rate you will receive
Charitable Lead Trust
How it Works
You can contribute securities or other appreciating assets to a charitable lead trust. The trust makes annual payments to Open Window Foundation for a period of time. When the trust terminates, the remaining principal is paid to your heirs.
Benefits
- The present value of income payments reduces your gift/estate tax
- Appreciation that takes place in the trust goes tax free to your heirs
- The amount and term of the payments can be set so as to reduce or even eliminate transfer taxes due when the principal reverts to your heirs
Remainder Annuity Trust
How it Works
You transfer cash, securities or other appreciated property into a trust. The trust makes fixed annual payments to you or to beneficiaries you name. When the trust terminates, the remainder passes to Open Window Foundation.
Benefits
- You receive an immediate income tax deduction for a portion of your contribution to the annuity trust.
- You pay no upfront capital gains tax on any appreciated assets you donate.
- You or your designated income beneficiaries receive stable, predictable income for life or a term of years.
- You have the satisfaction of making a significant gift that benefits you now and Operation Worship later.
Remainder Unitrust
How it Works
You transfer cash, securities or other appreciated property into a trust. The trust pays a percentage of the value of its principal, which is re-valued annually, to you or to beneficiaries you name. When the trust terminates, the remainder passes to Open Window Foundation.
Benefits
- You receive an immediate income tax deduction for a portion of your contribution to the unitrust.
- 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.
- You can make additional gifts to the trust as your circumstances allow and qualify for additional tax deductions.
Retained Life Estate
How it Works
You transfer your residence, farm or vacation home to Open Window Foundation subject to a life estate. You continue to occupy the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep. The property passes to Open Window Foundation when your life estate ends.
Benefits
- You receive gift credit and an immediate inome tax deduction for a portion of the appraised value of your property
- You can terminate your life estate at any time and take an additional income tax deduction
Testimentary Life Income
How it Works
You write a will or revocable trust directing a bequest to Open Window Foundation. You provide that the bequest first create a life-income gift benefiting your heirs. After their income interest terminates, the remaining balance of the gift passes to us.
Benefits
- One estate asset can benefit both Open Window Foundation and your heirs.
- Resulting charitable estate-tax deduction will lower the cost of providing for children and family.
- You or your designated income beneficiaries receive stable, predictable income for life or a term of years.
- Provisions are revocable during your lifetime, increasing your planning flexibility.
