Howard Center Gift Planning

There are many ways to give, and all gifts, regardless of size, are greatly appreciated. Planned gifts can provide donors with income during their lifetime, estate or income tax savings, as well as other benefits. You do not need to have a large estate to make a planned gift. Some common options are described below. We recommend you consult with your financial advisor or attorney for more information or to arrange to make a planned gift.


Most Common Planned Giving Options

Bequests

Bequests, or gifts made through wills, are by far the easiest and most common form of planned gift. To leave a bequest to Howard Center, talk with your attorney or simply include the following language in your will: “I hereby give and bequeath the sum of_____ dollars (or ____ percent of the residuary portion of my estate) to Howard Center, Inc., Burlington, VT, for its general charitable use and purposes.” A will provision allows you to make a substantial contribution to Howard Center without diminishing the assets available to you during your life. Since bequests are deductible from your taxable estate, significant estate tax savings may be possible.

Gift of Stocks

Thank you for making a stock gift to Howard Center. Following is information to transfer stock to Howard Center’s account:

Account Registration: Howard Center, Inc.
Federal Tax ID #: 03-0179433
Custodian: Morgan Stanley
Account Number: 383-023905
DTC #: 0015
Account Manager Contact: Timothy Stotz
Morgan Stanley
105 West View Road, 5th Floor
Colchester, VT 05446
Phone: 802-658-2424

Howard Center Contact: Alison Johnson
Assistant Director of Development
208 Flynn Avenue, Suite 3J
Burlington, VT 05401
Phone: (802) 488-6913
Email: alijohnson@howardcenter.org

We encourage you to talk to your financial advisor about the implications of a stock gift on your tax situation.

IRA’S and Retirement Plans

If you name Howard Center as a beneficiary of your retirement plan or IRA, you avoid income tax when Howard Center receives its share of your plan. In addition, if you’ve reached the age where you need to take the required minimum distribution from your traditional IRA, transferring funds from your IRA to Howard Center can provide substantial tax benefits.

Real Estate and Other Items of Value

Howard Center accepts certain gifts of real estate, art, collectibles, and other items of value. Please check with us before making such a contribution to be sure we are able to accept it.


Other Planned Giving Options

Charitable Gift Annuity

In exchange for a gift of money or securities, Howard Center will pay you and/or a loved one a fixed amount annually for the rest of your life. A portion of this income is not taxed, and you also receive a charitable deduction for part of your gift. A minimum contribution of $25,000 is required. Howard Center partners with the Vermont Community Foundation to set up CGAs. This partnership gives us the opportunity to provide our supporters with a vehicle through which they can receive income throughout their lives and benefit from tax savings.

Charitable Lead Trusts

You can support Howard Center for a term of years or for the life of an individual by creating a charitable lead trust. Income from the trust will be paid to Howard Center each year during the term of the trust. When the trust terminates, the assets in the trust revert to you or to individuals you wish to benefit. A charitable lead trust (CLT) allows you to provide one or more charities with income from the CLT for a period of years or for the life of an individual.

Charitable Remainder Trusts

You can create an irrevocable trust that provides you and/or a loved one with a fixed annual income or an income which varies with the value of the trust. Part of your gift qualifies for an income tax deduction. At the death of the last income beneficiary, the corpus of the trust is distributed to Howard Center. A charitable remainder trust (CRT) allows you to make an irrevocable future gift to a charity while you or another designated person receives lifetime annual payments, and you receive income tax deductions.  When the trust terminates, the remaining principal comes to the charity.

Life Insurance

You can contribute a policy you no longer need or make Howard Center a designated beneficiary for all or a portion of the proceeds, resulting in either an immediate income tax deduction or a reduction of your estate for purposes of estate taxes.

Real Estate with Retained Life Estate

If criteria are met, you can donate a residence or other real property as an outright gift, or you may prefer to give your residence, farm, or vacation home and retain the right to occupy it for life. You get a charitable deduction in the year you arrange your gift.

THE PURPLE LEGACY SOCIETY

The Purple Legacy Society honors those who value and care deeply about the people served by Howard Center and want to make gifts of lasting impact through bequests and other planned gifts.


It is important to consult with your own attorney, accountant and financial advisors to determine if any of the above planned gift options are appropriate for you.

For more information, please contact:
Mike Glod, Senior Development and Communications Director
MGlod@howardcenter.org or 802.488.6905.