Popular Ways to Give

• Wills and Living Trusts

  • A Gift in Your Will or Living Trust - The Easiest Way to Make an Impact

    Interested in helping The Center with our mission but feel overwhelmed by the thought of writing another check or giving up your assets today? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest. By including a bequest to the Society in your will or living trust, you are ensuring that we can continue our mission for years to come

  • NEXT STEPS

    1) Seek the advice of your financial or legal advisor.

    2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

  Legal Name: The Center of Itasca
  Address: 400 North Walnut, Itasca, Il 60143
  Federal Tax ID Number: 84-2185510

• Beneficiary Designations

  • Passionate about supporting The Center, even after your lifetime? It's not only possible, it's easy to do with a beneficiary designation. Just name The Center as a beneficiary to receive assets such as retirement plans and life insurance policies after you're gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.

    Not only is it an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.

  • NEXT STEPS

    1) Seek the advice of your financial or legal advisor.

    2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

  Legal Name: The Center of Itasca
  Address: 400 North Walnut, Itasca, Il 60143
  Federal Tax ID Number: 84-2185510

• Gifts That Provide Income

  • Charitable Gift Annuities

    • When you are looking for ways to help The Center with our mission, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support The Center work while receiving fixed payments for life is a charitable gift annuity.

      Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with The Center you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.

  • Charitable Remainder Trusts

    • Looking for a way to give The Center a significant gift? If you have built up a sizeable estate and are also looking for ways to receive reliable payments, you may want to check out the advantages of setting up a charitable remainder trust.

      Benefits of a charitable remainder trust include:

      • Potential for a partial charitable income tax deduction

      • Potential for increased income

      • Up-front capital gains tax avoidance

      There are two ways to receive payments with charitable remainder trusts:

      The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.

      The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is re-determined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

    • NEXT STEPS

      1) Seek the advice of your financial or legal advisor.

      2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

    Legal Name: The Center of Itasca
    Address: 400 North Walnut, Itasca, Il 60143
    Federal Tax ID Number: 84-2185510

• More Ways to Give

  • IRA Charitable Rollover

    • Make a difference today and save on taxes. It’s possible when you support The Center through your IRA.

      A Special Opportunity for Those 70½ Years Old and Older

      You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as The Center without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at the Society. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

      Why Consider This Gift?

      • Your gift will be put to use today, allowing you to see the difference your donation is making.

      • Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).

      • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.

      • Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax

      • NEXT STEPS

        1) Seek the advice of your financial or legal advisor.

        2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

      Legal Name: The Center of Itasca
      Address: 400 North Walnut, Itasca, Il 60143
      Federal Tax ID Number: 84-2185510

  • Charitable Lead Trusts

    • Do you want to benefit from the tax savings that result from supporting The Center, yet you don't want to give up any assets that you'd like your family to receive someday? You can have it both ways with a charitable lead trust.

      There are two ways charitable lead trusts make payments:
      A charitable lead annuity trust pays a fixed amount each year to The Center and is more attractive when interest rates are low.

      A charitable lead unitrust pays a variable amount each year based on the value of the assets in the trust. With a unitrust, if the trust's assets go up in value, for example, the payments to The Center go up as well.

    • NEXT STEPS

      1) Seek the advice of your financial or legal advisor.

      2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

    Legal Name: The Center of Itasca
    Address: 400 North Walnut, Itasca, Il 60143
    Federal Tax ID Number: 84-2185510

  • Real Estate

    • Want to make a big gift to The Center without touching your bank account? Consider giving us real estate. Such a generous gift helps us continue our work for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You avoid paying capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes or insurance.

      Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to The Center or ask your attorney to add a few sentences in your will or trust agreement.

      Ways to Give Real Estate

      You can give real estate to The Center in the following ways:

      Submit a few details and see the benefits of an outright gift.

      An outright gift. When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property's full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to us, you also eliminate capital gains tax on its appreciation.

      A gift in your will or living trust. A gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work with a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for The Center continues after your lifetime.

      A retained life estate. Perhaps you like the tax advantages a gift of real estate to our organization would offer, but you want to continue living in your personal residence for your lifetime. You can transfer your personal residence or farm to The Center but keep the right to occupy (or rent out) the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though The Center would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you qualify for a federal income tax charitable deduction for a portion of your home's value.

      A deferred charitable gift annuity. Are you tired of the hassles of maintaining your property such as paying taxes, utilities and repair bills? Consider donating the property to The Center in exchange for reliable payments for life for you (and someone else, if you choose). When you arrange a charitable gift annuity, you receive a federal income tax charitable deduction in the year you set up the gift annuity when you itemize on your taxes. If you use appreciated real estate to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy. A gift of unmortgaged property to fund a deferred gift annuity is preferable and generates the greatest tax benefit.

      A bargain sale. Want to sell us your property for less than the fair market value? A "bargain sale" may be the answer. When you make a bargain sale, you sell your property to our organization for less than what it's worth. The difference between the actual value and the sale price is considered a gift to us. A bargain sale can be an effective way to dispose of property that has increased in value, and it is the only gift vehicle that can give you a lump sum of cash and a charitable deduction (when you itemize) at the same time.

      A charitable remainder unitrust. You can contribute any type of appreciated real estate you've owned for more than one year, provided it's unmortgaged, in exchange for an income stream for life or a term of up to 20 years. The donated property may be a residence (a personal residence must be vacant upon contribution), undeveloped land, a farm or commercial property. Real estate works well with only certain variations of charitable remainder trusts. Your estate planning attorney, who will draft your trust, can give you more details.

      A charitable lead trust. This gift can be a wonderful way for you to benefit The Center and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.

      A memorial or endowed gift. A gift of real estate may be a perfect way to honor your loved one in perpetuity. When you make an endowed gift of real estate, your contribution is invested with and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact, the fund will generate support in perpetuity.

      A donor advised fund. When you transfer real estate to your donor advised fund, you avoid capital gains taxes and qualify for a federal income tax deduction based on the fair market value of the property when you itemize on your taxes.

    • NEXT STEPS

      1) Seek the advice of your financial or legal advisor.

      2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

    Legal Name: The Center of Itasca
    Address: 400 North Walnut, Itasca, Il 60143
    Federal Tax ID Number: 84-2185510

  • Memorials and Tribute Gifts

    • If you have a loved one establishing a memorial or tribute gift is a meaningful way to honor your loved one or celebrate a special occasion such as a birthday while supporting the work of our mission. Your memorial or tribute gift will be a lasting tribute to your loved one and make a difference in the lives of those we serve.

  • Endowed Gifts

  • Donor Advised Funds

    • A donor advised fund (DAF), which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to The Center and other qualified charities. You can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts.

    • NEXT STEPS

      1) Seek the advice of your financial or legal advisor.

      2) If you include The Center in your plans, please use our legal name and Federal Tax ID.

    Legal Name: The Center of Itasca
    Address: 400 North Walnut, Itasca, Il 60143
    Federal Tax ID Number: 84-2185510

    • Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.