Ways to Ensure the Future
LBFE relies on the support of our donors and we do not receive state or federal funding.
Your legacy gift is vital to ensuring the future of Little Brothers programs in the northwestern Upper Peninsula of Michigan for years to come.
Wills & Trusts
You can ensure the future of Little Brothers – Friends of the Elderly by including the organization in your will or trust. Your gift will be invested and managed by the Little Brothers Foundation and provide a perpetual source of income to the Little Brothers Chapter for a lifetime.
Your charitable gift could be a specific amount or a percentage of your estate or a gift of property. You can choose to give a portion of what remains after providing for loved ones. You may also choose to designate a portion to Little Brothers Chapter for their operations.
Beneficiary designation
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
You can name Little Brothers Foundation as a beneficiary of your retirement plan, life insurance policy, or other plans to support our mission.
Not only is it an easy way to give, but it is also flexible. A beneficiary gift to LBFE Foundation is exempt from taxes, which means the total value of the gift will further our mission. A beneficiary gift to family can be subject to federal income taxes.
endowed funds
Little Brothers Foundation includes three Endowed Funds which support specific programs the Chapter provides. Anyone can contribute to these funds which are invested in perpetuity. The Foundation provides an annual payout of 5% from each endowed fund to the chapter to support the specific program.
The John and Cookie Johnson Needs Fund enable the Chapter to offer support services for Forever Friends who have urgent, unique, or unexpected financial hardship. Past projects have included furnace repair, ramps, new appliances, and hearing aids.
The Wood Program Fund enable the Chapter to warm the homes of elderly friends in need by providing cut and split firewood.
The Lola Yoder Expansion Fund provides financial support to the Chapter for expansion of services throughout Upper Michigan.
SPECIAL GIFTS
Gift of Life Estates
Life estates are a useful tool for making a substantial gift to charity by donating your home or farm without having to vacate the property or give up any benefits you currently enjoy from the property. You will receive a charitable deduction up front for your donation to charity, but the gift benefits and responsibilities remain yours until the time of your choosing, which is usually after the donor's death.
Gift from Retirement Plans
Retirement plan assets can be a practical option for making gifts now or as a long-range plan. Many donors are sharing their required payouts from their retirement funds called RMDs (required minimum distribution) at the age of 73.
You might consider a QCD (Qualified Charitable Distribution) contribution from your retirement fund. This is a tax-free transfer to a charity for up to $100,000.
Gifts of Life insurance
You may own life insurance policies that are no longer needed. These policies can be used to make a gift that can provide income tax savings. Some people will purchase new policies and will assign a charity as their beneficiary. Donors can make significant gifts and benefit from tax savings without a lot of investment. This can be a way to make an enormous difference to a charity with little investment.
Appreciated Assets Gifts
Certain property that has increased in value including stocks, bonds or mutual funds can bring additional tax savings.
