Benefits of Giving
For over 40 years, Canterbury Court has impacted the lives of many residents and their families by providing a unique lifestyle in a safe “family” environment. Many of these individuals have conveyed their gratitude to Canterbury Court through various types of donations. Donations are a wonderful way of expressing support and commitment to an organization you believe in and provide much needed funds to secure the future for generations to come!
All gifts to Canterbury Court are fully tax deductible in accordance with IRS regulations.
Ways To Give
- Cash (cash or check)
All checks should be made payable to Canterbury Court or to a particular program, project or endowment fund at Canterbury Court.
- Securities
Readily marketable securities, such as those traded on a stock exchange, can be accepted by Canterbury Court. Securities are valued on the date they are either physically delivered to Canterbury Court or the postmark date if they are mailed. A completed stock/bond power must accompany all securities.
- Memorial Gifts
Honoring a loved one or someone who is special to you through a memorial gift is a meaningful way of paying tribute to an individual who is or has been a vital part of your life.
Your gift not only recognizes the uniqueness of someone’s life, but also supports the exceptional care that is the trademark of our reputation at Canterbury Court.
- Planned Gifts
*Bequests
You can provide for a future gift to Canterbury Court through a bequest in your will. Options to benefit Canterbury Court can be done by specifying:
- A specific dollar amount;
- A specific amount of property;
- A percentage of the estate; or
- The remainder of the estate after all other gifts have been fulfilled
*Charitable Gift Annuities
A gift annuity is a beneficial way to make a gift to Canterbury Court. Gift annuities are a simple contract between the donor and Canterbury Court. In exchange for a gift of at least $10,000 in cash or securities, Canterbury Court agrees to pay interest based on the age of the donor(s) up to a maximum of 9.5 percent. The donor(s) receive guaranteed fixed payments for life payable in quarterly installments and an immediate income tax deduction.
**All gift annuity contracts are irrevocable.
*Life Insurance
Giving through an existing life insurance policy is an excellent way to make a charitable gift with little to no cost to the donor. Canterbury Court will accept gifts of life insurance when Canterbury Court is named owner and beneficiary of an existing policy or Canterbury Court is named beneficiary of all or a portion of the death benefit proceeds. In order to designate Canterbury Court as beneficiary of an existing life insurance policy, simply contact your life insurance company to obtain a Change of Beneficiary form.
*Retirement Plans
Gifts through a company retirement plan or other established plan, such as an IRA, are a convenient and low cost way of making a significant gift to Canterbury Court. Gifts of retirement plans can be made in two ways:
- Any retirement income not needed to provide for day-to-day living expenses can be donated to Canterbury Court, which allows the donor to see the benefit of their gift during their lifetime.
- Canterbury Court can be designated beneficiary of any excess retirement plan assets at death. Simply contact your plan administrator for a Change of Beneficiary form.
Excess retirement funds held in plans are subject to both income and estate taxes. Naming Canterbury Court as the charitable beneficiary of a retirement plan can reduce or eliminate estate and income taxes for your heirs.
*Charitable Remainder Trusts
Charitable remainder trusts are another vehicle used by donors who are interested in converting low-yielding assets into a source of additional retirement income without incurring capital gains taxes. In addition, an immediate charitable income tax deduction is available in the year of the gift. There are two types of charitable remainder trusts – a charitable remainder annuity trust which provides the donor(s) with a fixed dollar payout and a charitable remainder unitrust which provides the donor(s) with a fixed percentage payout.
*Please consult with your qualified tax, legal or financial advisor before completing a planned gift.