You can make a gift to Ellis Memorial & Eldredge House and continue to receive income from your gift for your lifetime, for the lifetime of another beneficiary, or for a specific number of years. Consider the following options as you plan your giving.
Charitable Remainder Trusts
Charitable Remainder Trusts are individually invested and managed by a trustee of your choice. You, or your designated beneficiary, benefit from ongoing income and an immediate tax advantage, while Ellis Memorial & Eldredge House will benefit from the funds that remain upon your or your beneficiary’s death.
A gift annuity gives you income for life. You may claim an attractive tax deduction at the time of your investment; a portion of the annuity income is often exempt from federal income tax. A deferred gift annuity, in which you defer income until a specified age, also offers significant tax deductions at the time of investment, and may offer a retirement alternative for those no longer able to full advantage of Individual Retirement Accounts.
Charitable Lead Trusts
Charitable Lead Trusts pay a percentage of income to Ellis Memorial & Eldredge House for a determined number of years, after which the assets pass to a recipient of your choice. These trusts are an ideal way for you to support Ellis Memorial & Eldredge House, while preserving assets for your heirs. They help you reduce your income or estate taxes and may help relieve heirs of capital gains taxes.
Gifts to Ellis Memorial & Eldredge House are tax deductible within the limits of current federal and Massachusetts State law. Tax laws require a receipt for individual payments of $250 or more to charity. If you have made any single payment(s) above $250 for a particular tax year Ellis Memorial & Eldredge House will send you a receipt before April 15th