Updated: Jul 31
The title of this blog post says it all, we need our donors to help achieve our mission and save the 400+ animals that we get into their forever homes every year. But did you know that there are many different ways to give? See below for some of the many options, and thank you so much for considering donating to the Meriden Humane Society.
As I sit down today to write this blog post, I am desperately trying to stay cool with my little window air conditioner on day 4 of our weeklong heatwave. I am trying not to think of my electric bill along with all the other increased costs we are all experiencing these days. As you might imagine, our monetary donations often decrease during periods like these when budgets are strained. Of course, our expenses increase just like everyone else’s, but that ends up being an even bigger problem for non-profits: our incomes decrease as our expenses increase. If you are able to give with a monetary donation this summer, we are always grateful for your support, but even if and especially if you are unable to make a monetary donation at this time, please read on!
Just like all of us individually, non-profits need to establish “rainy-day” funds to cover unexpected expenses, manage fluctuations in donations and plan for future projects. However, it is often hard for us to set aside funds because we have so many immediate needs for animals that need our help today. One very important way that you can help us manage the fluctuations in the economy and monetary donations and ensure that we can continue to save animals is through Planned Giving.
Planned Giving takes multiple different forms, and we hope that you will consider one of these options that can help the Meriden Humane Society today as well as secure its future.
Appreciated Securities: Gifts of Stocks and Appreciated Assets.
If you have owned stocks or other publicly traded Appreciated Securities for at least one year, you can transfer them to a non-profit like the Historical Society. You can claim an income tax charitable deduction for the fair market value and also avoid any capital gains taxes. We can then sell the stocks and use the proceeds as needed. It’s an easy gift to make and an easy gift to take!
Real and Personal Property: Gifts of real estate or other valuable tangible personal items.
Do you have Real Estate property you are planning to sell or maybe other collectibles or artwork? If you donate them to us, you can deduct their value as a charitable donation and avoid paying any capital gains taxes. We can sell the item and use the proceeds as needed without any loss for taxes.
Qualified Charitable Distribution: Also referred to as an IRA Rollover.
If you are at least 70½, you can make a tax-free IRA charitable rollover gift up to $100,000 each year directly from your IRA. The transfer must be directly to us, as withdrawing them first would result in a tax penalty for you. If you don’t need the additional income and want to avoid the “double taxation” on the minimum required distribution this might be the perfect donation for you to make.
This is one of the easiest gifts to give. A bequest is either a designated amount or percentage of your estate. This gift costs you nothing during your lifetime and even if you already have a will, you can often add a codicil to it listing the Society as a beneficiary without the expense of hiring a lawyer.
Life Insurance and Retirement Plans:
If you have either life insurance policies or retirement plans, you can make us one of your beneficiaries. When your estate is settled, we would receive the amount you designated, and your heirs would not have to pay any income or estate taxes on that amount.
We hope that you will consider making a planned giving donation to us with one or more of these options. We of course also always rely on your generous monetary donations, but these planned giving gifts, which are often in much higher amounts would help to secure our future as well as ease the current strains on our budget and would allow you to still support us even if you aren’t currently able to with a monetary donation. Planned Giving gifts would allow us to commit to saving more animals and making improvements at the shelter that would enhance the quality of life for animals in our care. Please contact us if you would like more information. We are happy to assist you in setting up one of these planned giving options.