Providing for the Future!
In 2014 New Generation launched an endowment fund to ensure the perpetuity of the organization. The purpose of the fund is to provide operating support and to enhance and expand the program offerings to our residents. This fund will continue the New Generation mission to provide a safe, family–oriented shelter for homeless pregnant women and their babies, helping to prepare and empower them to be successful in life for generations to come.
The New Generation Future Fund is dedicated to the memory of our Co-Founder Ruthie Ford and has been made possible with an initial $100,000 endowment gift from Ruthie and the Ford Family. Ruthie envisioned a way to ensure that all pregnant women have a place to call home, receive caring support while pregnant and guidance in parenting their babies. Since Ruthie’s initial gift, other generous bequests have been provided allowing for the growth of the Endowment Fund.
Include New Generation in your estate planning.
There are many ways to give to New Generation. Perhaps you’d like to make a gift in memoriam, as a lifetime gift that helps in financial planning, as a bequest in your will or naming New Generation as a beneficiary in an insurance policy. We’re open to any way you’d like to help us help others.
Make a Lifetime Gift
A person gifts an asset directly to New Generation during his or her lifetime. This option is particularly attractive to individuals with highly appreciated assets (stock, real estate, business, artwork, etc.) that would otherwise be subject to 15% capital gains tax if the person sold the asset during his or her lifetime. The donor is entitled to an income tax charitable deduction for the value of the asset gifted.
Example: John has 1,000 shares of stock. He bought the stock for $5,000, and it’s now worth $35,000. If John sells the stock, he would pay 15% capital gains tax on the appreciation, or $4,500 (.15 x $30,000). John decides to gift the stock to a charity, which can sell the stock without paying capital gains because it is a tax exempt organization.
Make a Bequest
A person drafts his or her estate planning documents (i.e. Will, Revocable Trust, Retirement Benefit Designation Form) to provide that a designated asset passes to New Generation at his or her death. The asset goes to the charity free of federal estate tax and free of the income tax due at death on retirement benefits.
Example: Mary leaves $500 to charity in her Will. The bequest passes federal estate tax free.
Example: Joe lists a charity as beneficiary of his $100,000 IRA. The distribution to charity passes federal estate tax free, and the charity is exempt from paying the income tax due on the IRA at Joe’s death.