Planned Giving: Types of Eligible Gifts

• Bequests
  The most frequently utilized planned gift is a bequest made through a will or trust. Your bequest can be a fixed dollar amount, a percentage of your estate plan, or the remainder of your estate after making provisions for family and loved ones. Your charitable bequest enables you to retain your assets during your lifetime, while providing for mid-Michigan residents’ healthcare needs for the future. Charitable bequests are an excellent part of an overall tax-wise estate plan.

Quick Links: Membership Benefits Online Donation Form For more information, please contact the Sparrow Foundation office at 517.364.5680 or send us an email.

• Charitable Gift Annuity of Deferred Gift Annuity
  Charitable gift annuities are simple instruments between one or two donors and the Sparrow Foundation. The Foundation will pay one or two individual(s) a guaranteed income for life, when a gift annuity is arranged. The older the donor, the higher the rate of return on your gift annuity. Cash and securities are the most frequently used assets to create an annuity. A deferred gift annuity works much the same as charitable gift annuity, for a later date, thereby increasing the payout rate and tax deduction.
• Charitable Remainder Unitrust of Annuity Trust
  A charitable remainder trust provides the flexibility to designate a gift to Sparrow today, while receiving an income stream during your lifetime, or that of a loved one. Or, you may choose a preset number of years (now greater than 20), and secure a charitable deduction for the gift. With a trust, your gift is transferred to a charitable trust that pays a specified income to you or a loved one before distributing to trust assets (when the trust matures) to the Sparrow Foundation.
• Charitable Lead Trusts
  Charitable lead trusts can effectively provide dramatic gift and estate tax savings for you and your family, while simultaneously maintaining important assets. Cash or securities are usually the types of assets used to create a lead trust which pays income from the trust to Sparrow for a fixed period of years. When the trust matures, the assets are returned to you or whomever you choose.
• Life Insurance
  Life insurance gifts are an affordable and flexible method to create a planned gift. By purchasing an insurance policy, naming Sparrow Foundation as the owner and beneficiary, you may benefit by a charitable gift deduction for each premium payment. Another method is to transfer a policy you already own, allowing you to receive an immediate charitable deduction approximately equal to the cash surrender value when the policy is donated. Additionally, individuals may choose to include Sparrow as a beneficiary in their employers’ group life insurance plan.
• Retained Life Estate Agreements
  A gift of your home or farm can be completed today, while you retain the privilege of using and enjoying the property during your lifetime. This gift is quite simple to complete and generates a current income tax deduction. You and your spouse may continue to live in and enjoy the property as long as you choose.