Special Kinds of Gifts
Contributions are tax deductible to the extent permitted by law. The deduction for contributed property is usually equal to the fair market value of the property at the time of the contribution. This general rule is subject to exceptions for property that has appreciated (i.e. value is greater than its adjusted basis).
Many donors make a pledge of three years' duration to the campaign. Often gifts are given through any number of deferred gift options and may be credited to this campaign. Methods of giving, other than cash, may be appropriate for a number of contributors. Some of these are:

Gifts of Appreciated Securities
Donations to charity of stock that has appreciated in value since acquisition can be highly beneficial to a taxpayer. The value of the gift for purposes of taking a tax deduction is generally the mean market value of the stock on the day of donation, even through the cost to the donor is lower than this amount.
The actual gift to Benjamin House may be more or less depending on the fair market value on the day the sale occurs. The charitable donation of appreciated stock usually avoids all income taxed on the gain that would apply had the owner sold the stock. Even in those rare cases in which the alternative minimum tax is a consideration, gifts of appreciated property provide considerable tax protection. Securities that have appreciated in value significantly, but pay low dividends, are ideal for charitable giving.

There are several ways to process such gifts. The simplest is to have the broker electronically transfer the stock into the Benjamin House account at Wachovia Securities, Acct. # 1482-7973. They’ll also need the DTC# 0141. Any inquiries could be made of Whichard and Woolard Investment Grp., 338-5121 in Elizabeth City. In addition to securities, gifts of appreciated property may include real estate or other marketable assets.

Life Income Deferred Gifts
A deferred gift is an irrevocable contract that provides for gifts to be received by a charity, usually after a period of several years or after the death of the donor. A life income gift generally offers immediate income tax benefits and also provides ongoing income to the donor.
One common form of life-income deferred gift is the charitable remainder trust. Donors in or approaching retirement years or in their early 70’s often use charitable remainder trusts. Typically, the donor will have highly appreciated assets and have overestimated the level of income needed for retirement. By placing these assets in a charitable remainder trust, the donor can ensure that the asset is sold and that the entire value of the asset is reinvested in a high-yield security paying the donor and/or his or her loved ones a lifetime income. The entire principal value can be reinvested because charitable remainder trusts are not subject to income tax! Only after the death of the donor and other named beneficiaries does the principal amount come to the charity or charities named in the trust.
In addition to enhancing the donor's income at a time of need, charitable remainder trusts have the advantage of providing what is usually a significant income tax deductions in the year the trust is established (sometimes carried forward to provide tax benefits for several years). The tax deduction for establishing such a trust depends upon the age(s) of the trust income beneficiaries. Ultimately, such trusts may allow the donor to give far more to the Benjamin House campaign than is possible through gifts made from annual income.

Life Insurance
The needs of Life Insurance owners change at different stages of life. A paid-up policy that is no longer needed can be the perfect way to make a gift to the campaign. It is as simple as making Benjamin House the owner and beneficiary. There are also ways to use term insurance and policies that still require payments.

Bequests
Naming Benjamin House in your will is another giving vehicle. While this is an important thing to do at any age, for people 70 years of age or older such gifts can be credited to the campaign. All estate donors not wanting to remain anonymous will be included in the Legacy Society, listed in the campaign final report, and kept current on the activities and progress of Benjamin House and its residents.

Other Ways of Giving
The Staff, Board and Volunteers of Benjamin House are committed to making the Benjamin House capital campaign a success. If you have questions about a donation or bequest, please contact Benjamin House at 252-337-7171 or at PO Box 757 Elizabeth City, NC 27907. Questions can be asked online at info@benjaminhouse.org. Thank you for your support.