Ways to Help
- General Donations
- Securities Donations
- Tribute Donations
- Planned Giving
- Beneficiary in Your Will
- Life Insurance Policy
- Retirement Plan or IRA
- Charitable gift annuities
- Charitable remainder trusts
- Donate Your Car
General Donations
Make a donation to support the Foundation’s general fund or
a donation to specifically support the Council on Aging’s nutrition
programs or its Client Emergency Fund
Securities Donations
Contribute shares of stock, bonds or mutual funds that have gained
value. You’ll save money on capital gains taxes, and receive a charitable
deduction for the current value of the shares. (In order to receive
your maximum tax deduction, you must transfer the stock/mutual fund shares
directly to the Foundation. Selling the shares and donating the proceeds
will not eliminate capital gains tax. For more information, please contact
the Foundation office).
Tribute Donations
• Ask for gifts to the Foundation as a memorial in lieu of flowers, or
in celebration of special birthdays, anniversaries or retirements.
• Consider making a contribution to the Foundation in honor of a special
relative for Mothers Day, Fathers Day or Grandparents Day. This is a unique
and thoughtful way to recognize a loved one’s importance in your life. Anyone
honored by a tribute gift will receive a lovely commemorative card.
Planned Giving
As you prepare your legacy for your family and your community,
please consider including the Foundation as part of your plans. There are
many options for making planned and deferred gifts. Some gifts will provide
tax savings for your estate. Other gifts can provide you with current income
at rates of return that are competitive with other investment options. For
more information about planned gifts, or for a consultation on which gifts
may be beneficial to you and your family, please contact your attorney,
financial advisor, or the Foundation office.
We are pleased to recognize the generous donors who have remembered the Council on Aging Foundation in their estate plans. If you have made a gift to the Foundation in your will or trust and would like to be recognized for your contribution, please contact the Foundation office so that we can include you in our Legacy Society. Your thoughtfulness will make a difference in the lives of older adults, now and in the future. Click here to see the Legacy Society donors.
Options for Planned Gifts:
• Designate the Foundation as
a beneficiary in your will. Even if you have already prepared your
will, you can easily do this through adding a codicil to specify a gift.
The following is sample language that you can use to make a gift to the
Foundation through your will. Please note that the language is for example
only. Contact your attorney for further assistance.
“I give, devise and bequeath to the Lake County Council on Aging Foundation
of Mentor, Ohio, the sum of $_______ (or, ___ percent of the residue of
my estate).”
• Use a life insurance policy to make a gift. If you have a paid-up life insurance policy that you no longer need, consider donating the policy to the Foundation. Or, name the Foundation as a beneficiary of a policy.
• Make the Foundation a beneficiary of a retirement plan or IRA. This can offer significant tax savings for your heirs.
• Consider current income. There are a number of gift options that can provide you with a current income stream, while ultimately benefiting the Council on Aging Foundation. Options include:
• Charitable Gift Annuities:
A charitable gift annuity is a contract under which a charity,
in return for a transfer of cash or other property, agrees to pay a fixed
sum of money for a period measured by one or two lives. The person who contributes
an asset for the annuity is called the “donor” and the person who receives
payments is called the “beneficiary.” Payments from a charitable gift annuity
are fixed from the outset. They will neither increase nor decrease whatever
happens to interest rates of the stock market. A charity is contractually
obligated to make the payments.
• Charitable Remainder
Trusts:
These trusts are separate trusts that benefit only you and the
beneficiaries that you designate (and eventually the Lake County Council
on Aging Foundation). These trusts are created by you. When the trust matures,
we will make sure that the trust remainder benefits the charities that you
support. There are several types of charitable remainder trusts. One type
is unitrust. In a unitrust, a percentage of the annually determined value
of the unitrust is paid to the beneficiaries. Another type is the annuity
trust. This type pays a determined amount to the beneficiary.
Donate Your Car
• Donated Your Car: If you have a car, boat, RV, or other vehicle that
you no longer want or need, you can donate it to the Council on Aging Foundation,
receive a tax-deduction for the sale price of the vehicle, and make a hassle-free
contribution to help seniors in our community! The vehicle does not need to
run. You must have clear title on the vehicle to donate it.
The Council on Aging Foundation works with Donation Line LLC to process vehicle donations. They will arrange to pick up your vehicle at no cost. To donate, go to www.donationline.com, or call 1-877-CARS-4-US (1-877-227-7487) toll free to make arrangements. Please use Extension Code 2135 to ensure that the Council on Aging Foundation will receive the proceeds from your gift