Ways to Give
As Freemasons, we believe that we have a responsibility to our brother Masons and their families to come together, support them as they age, and offer them the best opportunity to live a full and comfortable life.
The Indiana Masonic Home at Compass Park is the physical embodiment of this commitment. For nearly 100 years the mission of the Home has continued to evolve. It has transformed over time into the community it is today, offering a spectrum of high quality living health care options for Masons and their families.
Many of the residents can afford to live anywhere but choose to live with other Members of the Masonic Community. However, for some residents, the Indiana Masonic Home at Compass Park is their only option.
Listed below are a number of ways you can support the residents and a chart showing our various giving levels. Please take advantage of these opportunities. “Remember, we are not remembered for what we get, but for what we give.”
Please contact us with questions or if we can help in any way.
Cash (currency, check, money orders, or bank draft) is the most popular form of giving because of its simplicity. Donors appreciate the tax deduction that gifts of cash provide, reducing the actual cost of the gift. The often preferred method to contribute a gift of cash is to donate online or by check.
For more information about the Vehicle Donations Program, please see this article.
Outright gifts also include marketable securities, which are listed on an exchange. There are three financial benefits to the giving of long-term appreciated securities:
- No tax needs to be paid on the gain if the stock is transferred directly to IMHF.
- The average fair market value of the securities on the date of the gift is deductible as an itemized charitable contribution for federal income tax.
- Gifts of stock qualify for the Indiana tax credit.
Planned or Deferred Gifts
Planned giving opportunities offer advantages to donors instructed in both current and long-term tax benefits. Planned gift enables you to make a commitment to support the Foundation in a manner and at a time that is best for you. Through a planned gift, many persons who had not expected to have the resources that they can be provided increased financial security for themselves and their loved ones.
A gift by will either large or small, is an excellent way to perpetuate your support of the IMHF. The IMHF may be designated as a recipient or as a contingent beneficiary of the bequest. Proper designation is: The Indiana Masonic Home Foundation, Inc., 525 N. Illinois St., Indianapolis, IN 46244-0210.
When properly arranged, life insurance offers an attractive way to benefit the Foundation at a relatively low cost. Life insurance gifts permit you to provide a substantial deferred gift for younger brethren because of the relatively low premium expense. Also, the proceeds from the policy are paid promptly to the Foundation, and this eliminates the delays caused by the estate administration process.
Certain tax advantages apply to gifts of long-term appreciated real estate. These gifts typically provided an immediate income tax deduction and avoidance of capital gains tax. Other advantages also may apply. Gifts of real estate are reviewed individually by Foundation staff prior to gift transaction.
Life Income Arrangements
Some planned gifts opportunities can greatly assist the foundation in meeting its needs and objectives while also production an income for you or your loved ones. These are life income gifts. All life income gifts allow charitable deductions on your income tax for the year in which the gift arrangements are made. Carryover rules apply for an additional five years.
- Charitable Gift Annuities: Our most popular gift! Establishing a charitable gift annuity with a contribution of cash or securities to the Foundation will provide you (or the person you designated with a fixed amount of guaranteed life-time annual income. The percentage of guaranteed income is based on your and/ or your spouse’s age. Charitable gift annuities offer a current income tax deduction as well as income which is largely tax-free during the life of the beneficiary(ies). If long-term capital gain property or securities are donated, capital gain taxes are greatly reduced.
- Charitable Remainder Trusts: You may establish a charitable remainder trust to provide substantial income to you during your life, during the life of a named beneficiary, or both. Pay out rates are negotiated with the Foundation. After death(s) of the beneficiary(ies), the trust assists are transferred to the Foundation and are allocated for the purpose you designated.