Money Matters
Winter 2015
Your gifts support the mission of Presbyterian Manors of Mid-America
MISSION To provide quality senior services guided by Christian values.
VISION Together we are making positive differences in the lives of seniors.
Inside This Issue: Can’t Help PMMA’s Communities Right Now? Q&A: Is a Charitable Gift Annuity Right for You? A 2015 New Year’s Resolution: Protect Your Estate
Giving Back for the Greater Good Caring for others is second nature to JoAnn (“Jody”) Furman. “The Lord has blessed me with a love for people,” Jody says. “I think even the smallest gestures can do so much for others.” One of her “gestures” is keeping some of her friends at Aberdeen Village in chocolates “to boost their spirits.” Perhaps most important, Jody is a strong believer in charitable giving. She supports a variety of organizations whenever and wherever she sees a need. “Giving provides me with a lot of joy,” she says. Jody directs a good portion of her giving to the Good Samaritan Program at Aberdeen Village. She and her husband, Courtney, moved to Aberdeen from Branson, Missouri, in July of 2012. But within a few months, Courtney’s health began to deteriorate, and he died in August 2013. The couple had been married for 31 years. Changing Her Perspective Jody’s first husband died when she was only 36. Suddenly a single mother with three young children, Jody struggled to support her family and work full-time. She still remembers the evening she was doing the dinner dishes, feeling discouraged, and watching the water drain from the sink.
Jody Furman “got serious” about giving many years ago. “I told myself that either God means what He says, or I was going down the drain just like that water in the sink,” she recalls. That’s when Jody says she “got serious about tithing”—giving 10 percent of what she earned back to God. When Jody and Courtney were married in 1982, they both worked at College of the Ozarks in Point Lookout, Missouri. She ser ved in the dean of students’ office, and Courtney was a faculty member, as well as a church pastor. Together they supported ministr y organizations both large and small, plus individual missionaries ser ving around the world. Jody also had a student “scout” in her office who could identify other Continued on Page 2 >
Giving Back for the Greater Good > Continued from Page 1 students in real financial need. To these she would make small anonymous gifts, usually a $10 bill and a Bible verse. A few Christmases ago, Jody’s family decided that they had more than enough for themselves. They wanted to do something for other people rather than exchange gifts, so each of them picked a mission
project to support. That tradition now extends to her 15-year-old granddaughter. Jody believes that ever yone is important: “We need to acknowledge that others really are special.” She likes to quote a message that she believes is God-given: “You take care of those I love where you are, and I’ll take care of those you love where they are.”
Can’t Help PMMA’s Communities Right Now? Consider a Gift in Your Will or Trust If you believe in Presbyterian Manors of Mid-America but don’t want to part with money today, a gift in your will or living trust may be the donation option you’ve been looking for. It has these benefits: • Simplicity. Just a few sentences in your will or trust are all that is needed. Return the enclosed sur vey to receive wording you can share with your attorney to complete your gift. • Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time. • Versatility. You can structure the gift to leave a specific item or amount of money, make it contingent on certain events, or leave a percentage of your estate to PMMA. • Tax relief. When you make a gift to Presbyterian Manors of Mid-America—a qualified charitable organization—in your will or trust, your estate is entitled to an estate tax charitable deduction for the gift’s full value. Why Leaving a Percentage Makes Sense When planning a future gift, it’s sometimes difficult to determine what size donation will make sense.
Emergencies happen, and you need to make sure your family is financially taken care of first. Including a gift of a percentage of your estate or a percentage of your residual estate ensures that your donation will remain proportionate to your estate size, no matter how it fluctuates over the years. Let Us Know If you have already included a gift to Presbyterian Manors of Mid-America in your will or trust, please notify us by returning the enclosed sur vey. That way we can ensure that your gift will be used exactly as you intend. Plus, it would be our honor to thank you for your gift.
Learn More in Our FREE Guide Return the enclosed sur vey to receive Extend Your Impact today. You’ll find additional details that will help you decide whether a gift in your will or trust is right for you. Act now because we have a limited supply!
Q&A: Is a Charitable Gift Annuity Right for You? If you would like to make a donation to Presbyterian Manors of Mid-America and are interested in supplementing your income at the same time, consider a charitable gift annuity. Q. How does a charitable gift annuity work? A. You give cash or securities to Presbyterian Manors of Mid-America in exchange for a contract that obligates PMMA to pay a fixed amount each year to you for life or to you and another person you select. What’s left of your gift after the lifetimes of the people receiving payments helps support the mission of service to seniors.
Q. How are the payment amounts determined? A. The annual rate of your payment is based on your age at the time of the gift. The older you are, the higher your gift annuity rate. Payment rates are locked in for the duration of the gift annuity.
A Preview of Your Benefits FOR ONE LIFE
FOR TWO LIVES
Age
Rate
Gift Annuity Payment
Charitable Deduction*
Ages
Rate
Gift Annuity Payment
Charitable Deduction*
65
4.7%
$470
$3,548
65/70
4.4%
$440
$2,976
70
5.1%
$510
$4,152
70/75
4.8%
$480
$3,522
75
5.8%
$580
$4,626
75/80
5.3%
$530
$4,140
80
6.8%
$680
$5,065
80/85
6.1%
$610
$4,651
85
7.8%
$780
$5,699
85/90
7.3%
$730
$5,082
90
9.0%
$900
$6,328
90/95
8.8%
$880
$5,572
* Assumes a $10,000 gift. Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions var y based on income earned.
Q. What are my tax benefits for making this type of donation? A. You qualify for a sizable charitable income tax deduction (when you itemize) in the year you set up the gift annuity. In addition, each year a portion of your payment is income tax–free, until you reach your anticipated life expectancy. Plus, part of your payments may be taxed at a lower capital gains tax rate.
Return the enclosed survey or contact Edwin Shafer at 316-652-6224 or eshafer@pmma.org to learn more about how a gift annuity can benefit you.
A 2015 New Year’s Resolution: Protect Your Estate Ever y year, we ritually make resolutions to improve our lives. While some resolutions are more critical than others, updating or creating your estate plan is one promise that should be a top priority. What Happens if You Don’t Have an Estate Plan? If you die without a will, the laws of the state where you reside will determine how your property is divided among your closest sur viving relatives. If you have a spouse and children, they may have to share part of your estate in proportions you wouldn’t have wanted. Is an Update Needed? Simply having a will doesn’t mean you can rest easy, though. It must be kept current. Look over the following list to see if an update is in store for you:
•Y ou or someone in your family has recently had a change in marital status or welcomed a child. • A loved one has died. • You have moved to another state. • Tax laws have changed. • Your concerns have shifted from the needs of your children to long-term care planning for yourself. • You would like to use a portion of your estate to help support a favorite cause, such as PMMA.
Also, in addition to a will, there are other essential documents you should have to round out your plan (see chart, below).
When reviewing your estate plan, please consider adding a gift for Presbyterian Manors of Mid-America in your plan. Contact us to discuss your options.
Estate Planning Essentials
✔
Tool
Why You Need It
Will
The cornerstone of your estate plan, this document ensures your assets will be distributed exactly as you intend.
Trust
You can make special arrangements for the management of your assets for yourself and others. Trusts can shelter assets for a surviving spouse and benefit heirs and charitable beneficiaries.
Living will
This document allows you to articulate your wishes concerning heroic, life-sustaining measures.
Durable power of attorney
If in the future you are unable to handle legal and financial matters, you can designate a trusted individual to handle those decisions on your behalf.
Health care power of attorney
If in the future you are unable to make health care decisions, this document stipulates who will make those decisions on your behalf.
For Giving Information Edwin Shafer, FAHP, CFRE Senior Vice President of Development
Gene Rietfors Director of Major and Planned Gifts
Tel: 316-685-1100 800-336-8511 E-mail: eshafer@pmma.org
Tel: 316-685-1100 800-336-8511 E-mail: grietfors@pmma.org
If you wish to be removed from our fundraising mailing list, please contact us toll free at 800-336-8511.
P.O. Box 20440, Wichita, KS 67208-1440
Please Return This Short Survey Today
Simply check the boxes that describe you. Thank you for your feedback!
❐ I would like the FREE guide Extend Your Impact so I can learn more about making a gift in my will or trust.
Name (Please print.)
❐ I am ready to make a gift in my will or trust and would like official wording to share with my attorney.
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❐ I am interested in learning more about supplementing my retirement income through a charitable gift annuity.
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