Sustaining the Ministry
Often, partners in ministry ask how they can leave a lasting legacy for CareNet, ensuring that women will be served with compassionate care and lives will be saved far into the future. For those who have a heart for CareNet’s work, there are many options to choose from, depending on financial goals and personal circumstances. All of these are referred to as planned gifts.
It is possible to make a bequest or gift through your estate by including a provision in your will or living trust, or by naming CareNet Pregnancy Services of DuPage as a beneficiary of a retirement plan or life insurance policy. It’s also possible to designate a gift from which you or your family continue to derive income. Many of these gifts provide tax or other benefits while helping to sustain CareNet’s vital ministry.
Bequests and Estate Plans
Leaving a portion of assets to a charity through a will is the most straightforward way for donors of any means to ensure that their estate receives a tax deduction while the charity receives the designated funds. There is also little or no cost involved in a straight bequest. The amount left to the ministry can either be expressed as a dollar amount or as a percentage of the assets to be given.
Giving through a retirement account can have even greater benefits for both the donor and the recipient. By making the ministry a beneficiary of an individual retirement account and consequently leaving those assets out of your estate, your family will benefit from lower estate taxes. The ministry then receives the full value of the account. You can even make a current gift from an IRA without first taking the funds as gross income, avoiding addition tax liability. The gift qualifies for your required minimum distribution (RMD), does not count toward the 50% annual limitation on charitable gifts, and does not affect your monthly budget.
Life Income Gifts
A life income gift allows you to give assets to CareNet of DuPage while providing yourself or others with income for a period of time before CareNet is permitted to use your gift. You can make a life income gift by transferring securities, cash, or other property to CareNet or to a trustee. The ministry or trustee then manages the investment of the assets and pays an income to you, your designated beneficiaries, or both. Income payments continue for the beneficiaries’ lives or, in some cases, for a term of up to 20 years. There are several life income gifts available, including Charitable Gift Annuities, Charitable Remainder Trusts and Pooled Income Funds.
No matter the planned gift you choose, you can ensure that CareNet is available to women in need for years to come. As God continues to lead women to CareNet to save the lives of their children and to learn of His saving love, your gifts will ensure that funds are available to serve each and every one. Learn more about the impact that CareNet is having in our community, and about CareNet’s vision for the future.