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 The
Cunningham Legacy Society offers you the opportunity
to add your name to those who have made a lasting gift
to the future through a planned gift or estate bequest
to Cunningham Children's Home.
A legacy gift is a living tribute to your dedication
as a steward and guardian of the mission and ministry
of Cunningham Children's Home. Legacy gifts allow your
generosity to be acknowledged during your lifetime,
while celebrating your life and lighting the way for
future generations!
Not sure whether you can make a legacy gift? Please
consider that every gift to the children of Cunningham
is a blessing, and keep in mind that there are many
different ways to leave a lasting legacy for Cunningham
children and youth. The information below gives several
examples.
We hope you'll consider speaking with Cloydia Larimore
about making a planned gift or bequest. Cloydia can
be reached by phone at (217) 367-3728, or by email by
clicking here.
Securities
Giving stocks and bonds which have increased in value
(and which you have owned for more than one year) provides
greater benefits than giving cash. Not only can you
deduct the full market value of the securities, but
you can avoid paying capital gains tax on the appreciation.
You may deduct the gift value of these securities for
you to 30 percent of your adjusted gross income. Any
excess can be carried over for an additional five years.
Securities that have decreased in market value may also
be used to make a gift. First, the securities must be
sold. The proceeds may then be given as a gift. The
capital loss may be used to offset any capital gains
realized in the year the gift is made.
Real Estate
Gifts of real estate may be more suitable for donors
who are concerned about preservation of liquid assets.
A gift of real estate provides a charitable deduction
of the full fair market value of the gift up to 30 percent
of your adjusted gross income, with the usual five year
carry-over.
With the establishment of a "life estate contract,"
a donor can contribute a personal residence or farm
to a non-profit organization such as Cunningham Children's
Home Foundation, and continue to occupy the property
until death. A substantial tax deduction is created
in the year the gift is made.
Life Insurance
Making a gift of an unneeded life insurance policy is
often preferable to a gift of cash. Naming Cunningham
Children's Home Foundation as owner and beneficiary
of a paid-up policy entitles you to a deduction equal
to the cost basis in the policy. Making a gift of a
policy that is not paid up provides you with a tax deduction
approximately equal to the policy's cash surrender value.
Bequests
You have spent your lifetime caring about the needs
of children and youth. A wonderful way to create a living
tribute to your life's work is through a bequest to
the Cunningham Children's Home Foundation. Remembering
Cunningham in your will is a way to continue serving
the ministry you support today, while making a lasting
contribution that will ensure many children will benefit
from your gift.
A bequest to Cunningham Children's Home may be included
in the body of your will or in addition to it (a codicil).
As you consider creating a legacy gift, remember that
generosity is measured by what you give, not by what
you have. A bequest doesn't have to be large to be generous.
Every gift, regardless of size is important to the lives
of children at Cunningham.
"For I know the plans I
have for you, says the Lord. Plans for good and not
for evil.
Plans for a future and a hope."
-- Jeremiah 29:11
If you have already made a decision to include a bequest
to Cunningham Children's Home Foundation in your will,
thank you for keeping the Cunningham ministry in your
heart and for your living tribute to the children we
serve. We ask that you please use the following statement
to designate your gift to Cunningham Children's Home
Foundation:
"I give, devise and bequeath to the Cunningham Children's
Home Foundation of Urbana, Illinois a charitable non-profit
organization, the sum of __________________________
dollars ($_________ ) or ________________________
percent ( _______%) of my estate to be used to carry
out the mission of caring for children and youth in
need."
Thank you, again for your commitment to children.
Annuities
A Charitable Gift Annuity is a contract between Cunningham
Children's Home Foundation and individuals or couples
that meet the required minimum age of 60 years. The
donor transfers property (usually cash, securities or
real estate) in exchange for a fixed dollar payment
during his or her lifetime. The payment can begin immediately
or may be deferred for a period of time to be determined
by the donor. Income will be paid to the annuitant on
a semi-annual or annual basis as determined by the annuitant.
The donor may name him or herself as sole annuitant
or designate another annuitant: solely, concurrently,
or consecutively. At the time of the annuitant' death,
the asset principal balance is added to the general
endowment of Cunningham Children's Home.
A minimum investment of $5,000 is required to establish
a Charitable Gift Annuity policy. Cunningham Children's
Home will accept cash and marketable securities in exchange
for a gift annuity. For information on other assets,
please contact the Resource Development staff.
For the donor, the gift annuity offers an opportunity
to make a current, irrevocable commitment to a favorite
charity; receive lifetime payments (or provide support
to another person); avoid an immediate capital gain
tax on a gift of appreciated, long-term property; receive
an income tax deduction for part of the gift; and remove
the property from his or her estate.
Most charitable organizations that offer gift annuities
adhere to the annuity rates recommended by the National
Committee on Gift Annuities (founded in 1927). The rates
are periodically revised and are designed to allow the
charity to retain a minimum of 50 percent of the initial
gift amount. Rates are determined using an actuarial
formula that takes into consideration the mortality
rate, the investment income the charity can potentially
earn on the principal, administrative cost, frequency
of payments, and the adjusted rates of return for younger
and older annuitants. For information on Cunningham
Children's Home Gift Annuity rates, please contact the
Resource Development staff.
Trusts
Income-producing trusts or other types of charitable
trusts can be used to make contributions to Cunningham
Children's Home Foundation. Charitable trusts provide
a lifetime income for the donor as well as create a
substantial income tax deduction. Trust arrangements
are tailored to each individual situation upon consultation
with the donor's attorney.
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