Planned Giving

Donating appreciated real estate, such as a home, vacation property, undeveloped land, or commercial property can make a great gift to our affiliate!

Want to make a gift to Habitat Catawba Valley without touching your bank account? Consider giving us real estate, such as a personal residence, vacation home, farm, commercial property or undeveloped land. Such a generous gift helps us continue our work for years to come.

And a gift of real estate also helps you. When you give Habitat appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction and you may minimize or eliminate capital gains tax…and you no longer have to deal with that property’s maintenance costs, property taxes or insurance.

Another benefit: You don’t have to hassle with selling the real estate. You can deed the property directly to Habitat Catawba Valley or ask your attorney to add a few sentences in your will or trust agreement.

Ways to give Real Estate

You can give real estate to Habitat Catawba Valley in the following ways:

Outright gift

When you make a gift today of real estate you have owned longer than one year, you qualify for federal income tax charitable deduction equal to the property’s full fair market value.  This deduction lets you reduce the cost of making the gift and frees cash that would otherwise have been used to pay taxes on the property.  By donating the property to Habitat Catawba Valley, you also eliminate capital gains tax on its appreciation.

Bargain sale

When you make a bargain sale, you sell your property to our affiliate for less than what it is worth.  The difference between the actual value and the sale price is considered a gift to Habitat Catawba Valley.  A bargain sale can be an effective way to dispose of property that has increased in value, and it is the only gift that can give you a lump sum of cash and a charitable deduction (assuming you itemize) at the same time.

A gift of your life insurance policy is an excellent way to make a gift to charity.  If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your policy.  For example, you may have purchased a policy to provide for minor children and they are not financially independent adults.

When the original purpose for a life insurance policy no longer applies – such as educating children now grown or providing financial security for a spouse – your policy can become a meaningful way to support our work.  There are three ways to give life insurance to Habitat for Humanity of Catawba Valley:

• Name us a beneficiary of the policy. This Gift is as simply as updating your beneficiary designation form with the policy holder.
• Designate us as the primary beneficiary for a percentage or specific amount.
• Name us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary does not survive you.

Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to Habitat Catawba Valley.

Securities and mutual funds that have increased in value and been held for more than one year are popular assets to use when making a gift to Habitat for Humanity of Catawba Valley, Inc. Making a gift of securities or mutual funds offers you the chance to support our work while realizing important benefits for yourself.

When you donate appreciated securities or mutual funds in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.

Securities are most often used to support our work in the form of:

An outright gift. When you donate securities to Habitat for Humanity of Catawba Valley, Inc, you receive the same income tax savings that you would if you wrote a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent.

A transfer on death (TOD) account.* By placing a TOD designation on your brokerage or investment account, that account will be paid to one or more persons or charities after your lifetime.

Benefits of gifts of stocks and bonds

Avoid paying capital gains tax on the sale of appreciated stock
Receive a charitable income tax deduction
Further our mission today
How to make a gift of stocks and bonds

By electronic transfer- Please contact us for instructions on how you can transfer stock or bonds from your brokerage or investment account to Habitat CV.
By certified mail- If you hold securities in certificate form, you will need to mail two envelopes separately to complete your gift. In the first envelope, place the unsigned stock certificate(s). In the other envelope, include a signed stock power for each certificate. You may obtain this power from your broker or bank. Please remember to use certified mail.

More on gifts of stocks and bonds
There are special rules for valuing a gift of stock. The value of a charitable gift of stock is determined by taking the mean between the high and low stock price on the date of the gift. Mutual fund shares are valued using the closing price for the fund on the date of the gift.

Contact us
If you have any questions about gifts of stocks and bonds, please contact us. We would be happy to assist you and answer any questions that you have. Contact Walter Cantwell at 828.328.4663 ext 108 or [email protected]

Donating part or all of your unused retirement assets such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan is an excellent way to make a gift to Habitat

Smart giving from your IRA

(a tax-saving way to help Habitat Catawba Valley)

Make a difference today and save on taxes. It is possible when you support Habitat for Humanity of Catawba Valley through your IRA.

A Special Opportunity for Those 70½ Years Old and Older

You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as Habitat Catawba Valley without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference in Catawba County. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

Why Consider This Gift?

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
• For Those 59½ Years Old or Older
• If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
• At Any Age
• No matter your age, you can designate Habitat Catawba Valley as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
• Tip: It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to thank you for your generosity and talk to you about your intentions to ensure that they are followed.
• To include Habitat in your plans, please use our legal name and federal tax ID. Please let us know of your gift (many retirement providers assume no responsibility for letting nonprofits know of your intentions so your goals won’t be honored).

n excellent way for you to support Habitat’s mission is to leave us a bequest in your will…or with a codicil to your will. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life.

A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends, and/or Habitat Catawba Valley as part of your estate plan.

Bequests can be made in multiple ways, including giving a:

• Specific dollar amount or asset
• Percentage of your estate
• Balance or residue of your estate

You can also make a beneficiary designation of certain assets to the institution.

Bequest Benefits

A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

Types of Bequests

There are a number of ways you can make a bequest to Habitat.

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Habitat Catawba Valley.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Habitat.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Habitat.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Habitat.

Bequest Language

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Habitat Catawba Valley in your estate plan. We have provided some basic bequest language to assist you and your attorney.

Specific Bequest

If you are considering making an outright bequest to HCV, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Habitat for Humanity of Catawba Valley, a nonprofit organization located at Post Office Box 9475, Hickory, NC, 28603, Federal Tax ID #56-xxxxxxx for Habitat Catawba Valley’s general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to xxx, a nonprofit organization located at Post Office Box 9475, Hickory, North Carolina, 28603, Federal Tax ID #56-xxxxx for Habitat Catawba Valley’s general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Habitat for Humanity of Catawba Valley, a nonprofit organization located at Post Office Box 9475, Hickory, North Carolina, 28603, Federal Tax ID #56-xxxxx for Habitat Catawba Valley’s general use and purpose.

Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Habitat Catawba Valley, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Habitat for Humanity of Catawba Valley, a nonprofit organization located at Post Office Box 9475, Hickory, North Carolina, 28603, Federal Tax ID #56-xxxx for Habitat Catawba Valley’s general use and purpose.

Residual Bequest

I hereby give, devise and bequeath to Habitat for Humanity of Catawba Valley, a nonprofit organization located at Post Office Box 9475, Hickory, North Carolina, 28603, Federal Tax ID #56-xxx, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Habitat Catawba Valley’s general use and purpose.

 Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Habitat for Humanity of Catawba Valley, a nonprofit organization located at Post Office Box 9475, Hickory, North Carolina, 28603, Federal Tax ID #56-xxx, DESCRIPTION OF PROPERTY to be used for Habitat Catawba Valley’s general use and purpose.

Restricted Bequest 

If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives, as well as to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Habitat Catawba Valley flexibility should it no longer be possible for the affiliate to use your gift as you originally intended:

If, in the judgment of the Board of Directors of Habitat for Humanity of Catawba Valley, it shall become impossible for Habitat Catawba Valley to use this bequest to accomplish the specific purposes of this bequest, Habitat Catawba Valley may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

If, in the judgment of the Board of Directors of Habitat CV, it shall become impossible for HFHCV to use this bequest to accomplish the specific purposes of this bequest, HFHCV may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

Not everyone wants to commit to making a gift in their wills or estates.  Some prefer the increased flexibility that a beneficiary designation provides by using:

• IRAs and retirement plans
• Life insurance policies

It is very simple to name Habitat for Humanity of Catawba Valley as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider’s website. Make your desired changes and return the form to establish your gift.

Make a gift in a few easy steps!

1. Contact the administrator of your retirement plan, insurance policy or bank account for a change-of-beneficiary form, or simply download a form from your provider’s website.
2. Decide what percentage (1 to 100) you would like Habitat for Humanity of Catawba Valley to receive and name us, along with the percentage you choose, on the beneficiary form. Return the completed form to your provider.

1. Contact Walter Cantwell at 828-328-4663 X108 or [email protected] to let us know your goals for the gift so we can ensure it is used as you intend.

Legal name: Habitat for Humanity of Catawba Valley
Address: Post Office Box 9475; Hickory, North Carolina 28603

102 3^rd Avenue NE; Hickory, North Carolina 28601
Federal tax ID number: xx-xxxxx

Beneficiary Designation Gifts

A beneficiary designation gift is a simple and affordable way to make a gift to support Habitat Catawba Valley. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.

DONOR

DESIGNATION FORM

ACCOUNT CUSTODIAN

PROPERTY
(IRA/INVESTMENT)

HABITAT

Benefits of a beneficiary designation gift

• Support the causes that you care about
• Continue to use your account as long as you need to
• Simplify your planning and avoid expensive legal fees
• Reduce the burden of taxes on your family
• Receive an estate tax charitable deduction

How a beneficiary designation gift works

1. To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
2. Ask them to send you a new beneficiary designation form.
3. Complete the form, sign it and mail it back to your broker, banker or agent.
4. When you pass away, your account or insurance policy will be paid or transferred to Elon University, consistent with the beneficiary designation.

Important considerations for your future

5. If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.

How to Give IRA Rollover

1. Contact the administrator of your retirement plan, insurance policy or bank account for a change-of-beneficiary form, or simply download a form from your provider’s website.
2. Decide what percentage (1 to 100) you would like Habitat for Humanity of Catawba Valley to receive and name us, along with the percentage you choose, on the beneficiary form. Return the completed form to your provider.
3. Contact us at 828-328-4663 ext 108 or [email protected] to let us know your goals for the gift so we can ensure it is used as you intend.

How to Give Life Insurance

1. Contact the administrator of your retirement plan, insurance policy or bank account for a change-of-beneficiary form, or simply download a form from your provider’s website.
2. Decide what percentage (1 to 100) you would like Habitat for Humanity of Catawba Valley to receive and name us, along with the percentage you choose, on the beneficiary form. Return the completed form to your provider.
3. Contact us at 828-328-4663 ext 108 or [email protected] to let us know your goals for the gift so we can ensure it is used as you intend.