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Senior Services, Inc. of Wichita is a not-for-profit agency. As of 2004, over 66,000 people in Sedgwick County are over 60 and 23,000 are over 75. While these numbers grow, our funding from federal, state and local sources does not. We must depend on people throughout the community to help us maintain and expand the many programs we offer to help keep our older friends, neighbors and family secure, healthy and in their own homes. In fact, we depend on private donations for nearly 30% of our operating budget. Many of the people we serve are below or near the poverty line and therefore have little left to contribute toward the services that they need and use. Your help can go a long way. Consider these facts:
Contributions can come in many forms: CASH GIFTS: The simplest way to help Senior Services financially is to make a gift by cash or check. Such gifts provide the funds to meet the immediate needs of the agency. You can make a gift to the agency as a whole or designate a donation to a particular program. Contributions are tax deductible to the full extent allowed by law.
ENDOWMENT GIFTS: Senior Services, Inc. of Wichita has established an endowment fund managed by the Wichita Community Foundation. A gift to this fund is an investment in a permanent fund that earns money every year for the agency. Donations to the endowment fund can provide significant tax advantages. BEQUESTS: You can name Senior Services, Inc. of Wichita as a beneficiary in your will by designating either a dollar amount or a percentage of your estate. The agency can also be named as a remainder beneficiary to receive funds only after specific sums have been paid to other beneficiaries. You can easily add Senior Services, Inc. of Wichita to your will through an amendment called a codicil; thus, your entire will does not have to be rewritten. GIFTS FROM FINANCIAL ACCOUNTS: Name Senior Services, Inc. of Wichita as the beneficiary of a financial account: savings, checking, CD, etc. as P.O.D. (pay on death). You can also name the agency as beneficiary of retirement savings plans like IRAs, Keogh plans, 401Ks. Naming Senior Services as death beneficiary may provide excellent tax advantages. APPRECIATED ASSETS: Eliminate or reduce capital gains taxes by giving stocks, bonds, real estate or mutual funds that have grown in value. Donate the asset, which is then sold. You receive the income tax deduction based upon the sales price but without the capital gains penalty. LIFE INSURANCE: Designate Senior Services, Inc. of Wichita as the beneficiary of a currently owned life insurance policy or a new policy. You make small (compared to the size of the policy) payments, and Senior Services receives benefit of the full value of the policy. By designating Senior Services, Inc of Wichita as both the owner and the beneficiary of the policy, you can earn a significant tax deduction, as well. CHARITABLE REMAINDER TRUSTS: Make a gift into a trust fund and name one or more beneficiaries (yourself or someone else) to receive the interest income for their lifetime. Upon the beneficiary’s death, Senior Services, Inc. of Wichita will receive the gift. Such an arrangement can provide significant income tax and estate tax reductions. CHARITABLE LEAD TRUSTS: Make a gift into a trust fund and designate Senior Services, Inc. of Wichita to receive the interest income for a specified period of time, after which the assets are transferred to your heirs. This arrangement allows you to pass assets on to your children and grandchildren completely or substantially free of estate and gift taxes.
For More InformationWe cannot tell you all you might need to know about which
methods of planned giving might be most advantageous for you. Please discuss
these options with your attorney or tax advisor to learn how they might
affect your personal tax situation. Call the Development Director at 267-0302
to learn more. |
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(316) 267-0302 |
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Senior Services, Inc. of Wichita assumes no responsibility for information
linked to its website. |
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