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How to Give Back
Leave a legacy
Thanks to the generosity of Westminster Village residents, families and friends, the foundation has an endowment that has provided more than $1 million to assist residents who have outlived their resources. Consider a cash gift, bequeath a life insurance policy or honor a loved one with a permanent paver – there are many ways to give.
Ways to give
Click on a category to learn more. Consult your professional advisor when considering charitable gifts.
The foundation accepts cash, checks and credit card gifts. Cash is the simplest and most efficient way to make a gift to the foundation; and can be made in honor or in memory of a person, event or organization.
The Legacy Circle
The Legacy Circle recognizes benefactors who make a commitment to the future of Westminster Village with a commitment to the foundation in their estate plans. A written confirmation of intent is all that is necessary. This may come in the form of a signed statement of support or copy of your will or trust provision.
Bequests and Devises
In your will, the foundation may be granted a specific bequest of personal property (cash, securities, or other readily-marketable property) or a devise of real property. It can also be named as the residuary beneficiary of your estate.
The transfer of appreciated securities is one of the most popular ways of giving to the foundation. When using securities as a gift you may generally take a charitable deduction on your income taxes for the full market value of the securities as of the date of the gift. You also may avoid the payment of capital gains taxes on the sale of the securities.
A gift of real estate provides the same advantages as a gift of securities.
You can name the foundation as owner and beneficiary of a life insurance policy that has served its original purpose. You may be entitled to an immediate tax deduction in the amount of the cash value of the policy and a deduction for the premiums paid thereafter. Upon your death, the full face amount of the policy will pass to the foundation free of estate taxes.
A charitable remainder trust can be set up naming the foundation as remainderman and providing income to one of more beneficiaries specified by you. Upon the death of the life income beneficiaries, the trust assets become the property of the foundation.
IRAs and Other Qualified Retirement Plans
Naming the foundation as the beneficiary of your retirement plan can provide tremendous tax benefits.
Friends of Foundation
The Friends of the Village Foundation is designed to increase the size of the foundation’s endowment. At the beginning of each fiscal year, which is July 1, Friends are invited to make an annual pledge. The pledge can be paid in a lump sum or quarterly via cash or credit card. If the participant is a current resident, the amount can also be added to his/her monthly statement.
There are special people in every person’s life. Some may still be here while others are just wonderful memories. Now there is a way to honor and memorialize these loved ones with a permanent marker.
There are three courtyards around Westminster Village’s campus that are designed with brick pavers. One is located outside the library and there are two outside the Health Center. Pavers may be personalized to recognize special people in your life.
Pavers cost between $150 and $450 depending on the size, number of lines of inscription and location.