Planned Giving
Planned Giving is a set of ways a donor can leave money/assets to a nonprofit at his/her death; or a way to invest money so that the donor receives benefits during his/her life and then bequeaths the remaining funds to the nonprofit. PPCC offers ways to allow your donation to be recognized or memorialized if desired. The Center recommends donors speak to their financial advisor to discuss planned giving options. For more information, please contact the Rev. Becky Glass at (757) 873-2273 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Will
By including the Center in your will, you may secure a charitable estate tax deduction for the value of the gift and leave a lasting memorial of a life well lived. A donor could include a provision in their will directing that a gift be paid to PPCC after their death or the death of one of their survivors.
Donors can give PPCC either a specific amount of money or item of property (a “specific” bequest), or a percentage of the balance remaining in their estate after taxes, expenses, and specific bequests have been paid (a “residual” bequest).
Also, donors can direct PPCC to use their bequest for a particular program or activity, or allow usto use it at our discretion (“restricted” and “unrestricted” bequests).
Charitable Trusts
You can use assets to fund a life-income vehicle such as a Charitable Remainder Trust or a Charitable Gift Annuity.
- Charitable Remainder Trust – You create a trust agreement outlining the terms of the trust; transfer cash or other property to the trustee; trustee invests and manages the trust assets; trustee makes payments to income beneficiaries; and the remainder goes to the Center for the purposes that you specify. The benefits: one or more beneficiaries will receive income that will vary annually with the value of the trust; income tax deduction for the charitable remainder value of your gift; no capital gain tax when the trust property is sold; and the trust remainder will provide generous support to the Center for its mission and ministry.
- Charitable Gift Annuity - You may transfer cash, stocks or real property to the Center. The Center guarantees you lifetime payments for one or two annuitants. The benefits: guaranteed payments for life that are tax favorably; if the gift is funded with appreciated property, then a part will be taxed as capital gain, a part will be tax free, and a part will be taxed as regular income; the gift will provide generous support of the Center’s mission and ministry.
Life Insurance
You can take out an insurance policy making the Center the beneficiary. The premium paid on the insurance policy is tax deductible. Donors have several options in providing PPCC life insurance:
- They can contribute a fully paid-up policy, or
- They can contribute a policy on which some premiums remain to be paid. In both of these cases, the donor can claim a charitable deduction for the value of the donated policy, and PPCC can “cash in” the policy in advance of the donor’s death.
- Donors can (revocably) name PPCC as the beneficiary of a life insurance policy that they continue to own and maintain, or
- They can name PPCC the owner and beneficiary of a new life insurance policy, and make ongoing gifts that offset the premiums you will pay to maintain the policy. There is no charitable deduction available for taking out a new life insurance policy, even if the donor makes PPCC the irrevocable owner.
Real Estate
You can consider transferring the title to personal residence or real property to the Center. The Center allows you and/or your spouse to live in the residence and maintain the residence for the remainder of your life. Upon your death, the Center will use or sell the property. The benefits to this type of donation are the income tax deduction for the remainder value of your residence or real property and that you and/or your spouse continue to live in the residence for life.