Types of Gifts
Bequests
A bequest is a gift as part of your estate included in your will (or revocable trust). By naming Beacon Haven in your will, you are helping preserve the precious ministry of Christian Science nursing. A bequest provision may be for a specific sum of money, a percentage of one's estate, or specific asset(s). A bequest may also be in the form of a gift of the remaining assets of one's estate. Bequests, like other gifts, can be designated for many purposes or given without restriction.
Possible wording for a fixed amount of cash could be:
“To Beacon Haven, located in New Brighton, Minnesota, a 501(c)(3) charity organized under the laws of the state of Minnesota, I hereby give, devise, and bequeath the sum of $__________, for its unrestricted use and purpose.”
Possible wording for a percentage of your estate could be:
“To Beacon Haven, located in New Brighton, Minnesota, a 501(c)(3) charity organized under the laws of the state of Minnesota, I hereby give, devise, and bequeath __________% of my estate, for its unrestricted use and purpose.”
IRA's and 401-K's
These are retirement savings that have a beneficiary. Beacon Haven can be named as a beneficiary, either for a fixed amount or for a percentage of the value.
Generally, significant portions of IRA's and 401-K's (and other similar plans), have not had income tax withheld. Income taxes will have to be paid either before distribution to a beneficiary or when this money is used by a beneficiary. Donating this to a charitable institution will avoid the income taxes.
Life Annuities
These provide income for life to the individual making the gift. Any amounts left at the passing of the individual then can be used by the charitable institution.
We work with other long-established charitable organizations for some types of gifts. Please call us about this type of gift.
Other Types of Giving
If you would like to consider any alternative giving, please give us a call.
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