Planned Giving Options
Bequests are by far the most popular and simplest form of planned giving. A bequest designates an amount of money, a fixed asset (such as land, vehicle, jewelry, equipment) or a portion of an estate to an individual or organization. Unless you specify otherwise, most bequests are unrestricted and are designated to Milestone’s Annual Fund to support services.
- To make a bequest, you will need a will or a living trust.
- The official language in a bequest to Milestone Centers, Inc. is:
“I, (name) of (city, state, zip) devise and bequeath to Milestone Centers, Inc., tax identification number 25-1213006, (written amount or percentage of the estate or description of property) for its unrestricted use and purpose.”
- You may change your bequest at any time.
- If your estate is subject to estate tax, your gift is tax deductible for the gift’s full value.
If you are considering a bequest to Milestone, please contact a financial professional or attorney for specific advice regarding your situation. Then contact Milestone’s Chief Officer of Development, Maureen Haggarty, at 412-371-7391 ext. 116, for specific information for your contribution to Milestone.
You may choose to support Milestone Centers by naming the organization as a beneficiary of your retirement plan or life insurance. You may restrict your designation to any one of Milestone’s existing services. An undesignated gift will be placed in the Annual Fund, which supports all agency services.
Organization’s Legal name: Milestone Centers, Inc.
Address of Principal Office: Milestone Office of Development, 712 South, Pittsburgh, PA 15221.
State of Incorporation: Pennsylvania
Tax Identification Number: 25-1213006
Contact Person: Maureen Haggarty, Ph.D., Chief Officer of Development & Communications
Telephone: 412-371-7391, ext. 116, or 412-371-9901 (fax)
If you are considering Milestone as a Beneficiary of your life insurance or retirement plan, it is advisable to first contact a financial professional or attorney for specific advice regarding your situation. Then contact Maureen Haggarty, at 412-371-7391 ext. 116, for further assistance.
If you have a relative or friend who receives Milestone’s services, or did in the past, making a tax deductible gift in honor of or in memory of that person is a meaningful way to acknowledge his or her life. Or, consider making a gift to Milestone as recognition of a special person in your life or occasion such as an anniversary, retirement, birthday or birth. You and the recipient will have the satisfaction of helping disabled persons!
Give today at Donate Now and selecting the type of gift in Tribute Information.
You may also designate a gift in honor or in memory of someone after your lifetime. This may be done through a Bequest or Charitable Gift Annuity.
Charitable Gift Annuity
The basic idea of this giving strategy is that the donor gives a gift to the charity and charity agrees to pay an annual annuity to the beneficiary for the remainder of his or her life. Upon the death of the beneficiary, the agreement ends and charity has no further obligation.
Benefits of a Charitable Gift Annuity
- The interest rate on the annual annuity is often higher than that offered on interest from certificates of deposit and government bonds.
- Your rate of return is not dependent upon the fluctuation of the stock market;
- The donor receives a tax deduction in the year of the original gift.
- A portion of each annuity payment received during your life expectancy is tax-free, and is not included as part of your total income when determining the percentage of your Social Security benefit, which is taxable.
Other things you should know:
- While cash is the most popular form of a charitable Gift Annuity, it also may be in the form of securities or other assets.
- The annuity cannot be withdrawn. It is irrevocable.
- You may designate a second person to receive your annuity payment after your death. Known as a two-life Charitable Gift Annuity, the interest rate will be lower.
- The annuity benefits Milestone programs and services.
If you are considering a Charitable Gift Annuity, please contact a financial professional for specific advice regarding your situation. Then contact Milestone’s Chief Officer of Development, Maureen Haggarty, at 412-371-7391 ext. 116, for further assistance.