What is Planned Giving?

Unity House of Cayuga County, Inc. understands that one key to its continued success depends on the financial support of its friends and stakeholder groups. Such support is critical for us to continue providing the quality services and programs that benefit our remarkable consumers and their equally remarkable families.

Our Planned Giving Program is just that: a program that provides current and future friends and stakeholders with several ways to make thoughtfully planned gifts to Unity House, including bequests, insurance policies, real estate, trusts, and other giving options. Simply put, a planned gift to Unity House is almost any contribution that exceeds writing a check. Planned gifts are a legacy – creative giving strategies that enhance your, and your family's, well being and help us as well.

A sound financial future – the goal of our Planned Giving Program – will ensure the existence and quality of our services and programs for generations to come. With your help, we can realize that goal. Together, we can be assured that these amazing individuals and their families are empowered and have futures. Preserve your legacy and values through our Planned Giving Program.

Types of Planned Gifts

Will Bequests

Probably the most common method of planned giving to Unity House involves the Charitable Bequest, which is a written statement in one’s will or living trust that directs that a gift be made to charity upon one’s passing. In general, the most common bequest types are:

Specific – a specific amount is identified and designated to Unity House
Percentage – a percentage of a total estate is designated to Unity House
Residual – a percentage or dollar amount leftover after an estate is probated that is designated to Unity House
Contingent – amount designated to Unity House that is dependent upon a certain event or progression of events (i.e., the death of the remaining spouse or beneficiaries)
Unrestricted – an amount designated to Unity House that may be used for any expense
Restricted – whereby the donor designates how Unity House is to use his/her bequest

Other Options

The following table may be helpful as you consider your gift-giving goal(s), the type of gift to be made, how to make the gift, and the benefit(s) of doing so.

Donor's Goals and Gifts Table
Your Goal Your Gift How to Make the Gift Your Benefits
Make a quick and easy gift Outright Gift Donate cash, securities, or property Income tax deduction; avoidance of any capital gains tax
Make a revocable gift during your lifetime Living Trust Name Unity House as beneficiary of assets in a living trust Control of trust for lifetime; possible estate tax savings
Defer a gift after your lifetime Bequest in Will Name Unity House in your will Donation exempt from federal estate taxes
Make a large gift with little cost to yourself Life Insurance Gift Give a policy with Unity House as owner and beneficiary Current income tax deduction; possible future deductions
Avoid double taxation on retirement plan assets Retirement Plan Gift Name Unity House as beneficiary of the remainder of the assets after lifetime Avoidance of heavily taxed gift to heirs, allowing less costly gifts
Avoid capital gains tax on the sale of a home or other real estate holdings Real Estate Gift Donate the property to Unity House Immediate income tax deduction and avoidance of capital gains tax
Give your personal residence, but continue to live there Retained Life Estate Designate the ownership of your home to Unity House but retain occupancy Charitable income tax deduction and lifetime use of home
Secure a fixed and often increased income Charitable Remainder Annuity Trust Create a charitable trust that pays you a set income annually Immediate income tax deduction and fixed income for life
Create a hedge against inflation over the long term Charitable Remainder Unitrust Create a trust that pays a percentage of the trusts assets; valued annually Immediate income tax deduction, annual income for life
Supplement income with fixed annual payments Charitable Gift Annuity Enter a contract with Unity House in which we'll pay you fixed payments annually Current and future savings on income taxes; fixed income for life
Reduce gift and estate taxes on assets to passing heirs Charitable Lead Trust Create a trust that pays a fixed or variable income to Unity House for a set term and then passes to heirs Reduced size of taxable estate; keeps property in family, often with reduced gift taxes

Making Important Decisions

Deciding what method of planned giving is best for you may include determining your needs, clarifying your financial planning objectives, and affirming your commitment to Unity House. A fundamental component of successful planned giving usually includes consultation with a licensed, certified professional experienced in the process, such as an estate planner, an attorney, or a financial planner or advisor.

With our Planned Giving Program, there is never an obligation to give – only a sincere understanding that your philanthropy and our purpose are one and the same: to do good in our community and serve citizens with disabilities to the best of our ability. We welcome the opportunity to begin the conversation with you.

Learn More

For more information and to answer any questions you may have about our Planned Giving Program, please call 315-253-6227 x 313. We will be more than happy to help you begin implementing your wishes.

Thank you for considering Unity House of Cayuga County, Inc.
in all of your estate planning!