Charitable incentives in the federal and state tax structures offer many opportunities for you to make a gift to Morning Light while protecting or enhancing your own financial goals.
The following guidelines on a few of the many potential methods of giving will help you plan your giving strategy. However, for the method best suited to your goals, we urge you to consult with your own personal financial advisor for details on how your gift would affect your financial planning and tax liabilities.
Cash gifts (check or online)
Cash gifts are the most common and convenient way of giving. They are fully deductible for federal income tax purposes provided you itemize your deductions.
Cash given over a pledge period is also a popular choice. You may find you will be able to increase the size of your gift if you extend payments over a full three to five-year pledge period, allowing for payments and deductions in each of four to six tax years.
Click here to make a secure online donation.
You can also mail your contribution to:
4701 N. Keystone Avenue
Indianapolis, IN 46205
We often offer event sponsorships at many different levels! Join our annual Beach Ball or any other Morning Light event by becoming a partner or sponsor.
The Commitment Circle
To encourage others to join them in our life changing mission, Morning Light Board created The Commitment Circle. This giving society acknowledges individuals who annually contribute a minimum of $1,000.
Contributions primarily assist residents of the Abbie Hunt Bryce Home which serves the terminally ill homeless who reside there free of charge. Morning Light operates the 35-bed Pennwood Place for low income seniors. Morning Light supports home health care efforts through occasional patient assistance.
Click here for Commitment Circle details and participation options.
Gifts of securities
Gifts of stocks are a convenient and tax-wise way to benefit Morning Light. The federal income tax laws generally allow you to deduct the full market value of long-term appreciated securities.
If you donate your securities to Morning Light, you will pay no capital gains tax on the appreciation and the full current market value of the securities will qualify as a charitable contribution deduction. To avoid potential delays in the mail when transferring securities, please instruct your broker to notify Morning Light immediately of the intent to transfer funds.
Gifts of real estate
A gift of real estate allows you to generate a sizable tax deduction from assets that may be of little current benefit to you while making a significant contribution to Morning Light. Real estate, including residential or commercial rental property, office buildings, and undeveloped land, which have appreciated in value may be donated with the same tax advantages as gifts of securities.
By including Morning Light in your estate plan, you can make a significant impact on the lives of future clients in Central Indiana. So we can properly acknowledge your gift we would appreciate knowing of your plans.
Charitable gift annuities
A Charitable Gift Annuity is a simple contract between the donor and Morning Light that will provide the donor an income for life paid annually, semiannually or quarterly at a guaranteed return often greater that today’s money market rates. It provides you with an immediate charitable income tax deduction and a reduction in capital gains taxes if the gift is made with appreciated securities.
Charitable remainder trust gifts
You may also establish trusts, which provide income for life (the amount can be pre-determined) to you or your beneficiary from assets placed in trust for Morning Light. The principal of the trust passes to Morning Light upon the death of the person receiving the income. Creating a trust entitles you to a charitable deduction for the value of the Morning Light’s remainder interest.
Gifts of life insurance
If you designate Morning Light as the sole beneficiary of an unneeded life insurance policy, you will gain a significant estate tax savings. If you irrevocably assign the ownership of a policy to Morning Light, you are entitled to an immediate deduction for federal income tax purposes. When a paid-up policy is contributed to Morning Light the allowable deduction is equal to either its replacement value or the donor’s cost basis in the policy, whichever is less.
Gifts by a bequest in a will have become an integral part of the American philanthropic tradition. It enables you to make a significant contribution to Morning Light that might not have been possible during your lifetime. Such gifts also offer estate-planning opportunities that minimize federal and state death taxes. In your will, please include “Morning Light Inc.” our proper legal name.
Please note: Individual circumstances alter specific cases and you should have up-to-date professional advice based on current tax laws. Consult your financial advisor or attorney for answers to your specific questions.