Your Legacy, Our Future
It was before the start of the Civil War; Lincoln would be elected in November. In 1860, James Yeatman, a banker from Tennessee, had recently moved to the City of St. Louis and noticed the homeless and hungry on the sidewalks. He and several business leaders founded Provident to help those in need. The agency flourished, providing services to the most vulnerable in the community. To honor his legacy, Provident Behavioral Health established the Yeatman Society for donors arranging planned gifts. Legacy gifts provide long-term support its ongoing evolution and expansion of behavioral health services for those with the greatest need.
We strongly encourage you to consult with a professional such as a financial planner, tax accountant and/or a lawyer to discuss your Planned Giving options further. Through Planned Giving, you will give a gift that allows for hope, growth and the ability to allow Provident to continue to build brighter futures.
The following are a few ways Planned Giving can be structured:
An outright gift of cash qualifies for a full charitable deduction for most donors who itemize their federal income tax returns.
Transferring shares of stocks, bonds or mutual funds that have increased in value to Provident is a great way to make a charitable gift. Tax savings is twofold: you will not be subject to the capital gains tax while earning a charitable deduction for the current value of the security.
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. A bequest can also reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
Provident, Inc. can be named as the beneficiary of a new or existing life insurance policy. If Provident is also named as the owner of the policy, all of the donor’s premium payments are charitable deductions.
Charitable Gift Annuities
This gifting technique is an outright gift of cash, securities or other property to Provident made during a donor’s lifetime in return for the organization’s promise to pay a lifetime annuity income to the donor.
Provident can be named as the ultimate beneficiary of a charitable remainder trust or the income beneficiary of a charitable lead trust. Both are highly effective estate planning tools that can benefit the donor now or later.
Significant tax benefits can be gained by naming Provident, Inc. as residual beneficiary of retirement plan assets. This option allows a donor to defer a gift to the end of his or her lifetime, reduce the size of the estate, and meet charitable objectives.
Gifts of securities and real property may provide important tax advantages. Their full fair market value is deductible as a charitable contribution with certain limitations.
Do you need to inform Provident that you have left a gift to us?
This decision is up to you. If you do decide to inform us of your planned gift, it will allow us the opportunity to recognize you (if you wish), and the gift can be included in future planning.
For more information, please contact:
Specialist, Events and Donor Development