Friends strive to be thoughtful stewards of financial resources. Including Philadelphia Yearly Meeting in your estate plans is a meaningful way to nurture Quaker faith and practice. Bequests in wills, charitable gift annuities, trusts, and other planned gifts are tax-wise options that can have a lasting impact on our community. Some gifts can also provide income for you and your loved ones.
Bequests & Legacy Gifts
A charitable bequest is the easiest and most flexible way to support the yearly meeting with a deferred gift. You can create a bequest to PYM when you prepare a new will or amend an existing one In addition to your will, you can make a bequest gift to PYM through a revocable (or living) trust. You may also designate PYM as a beneficiary of your IRA or other retirement plans, a life insurance policy, or a bank or brokerage account. If you wish to restrict your gift to a particular program or service of PYM, please consult with the Director of Development to assure that PYM can use your gift in the most effective way possible.
Life-Income Gifts
A life income gift provides lifetime payments to you or your designated beneficiaries. The Yearly Meeting will receive all or some of the remainder of the assets upon your death. Charitable Gift Annuities are the easiest type of life income gift to make. Most PYM gift annuity donors find those gift annuities provide income security for retirement while also enabling them to support Friends work in the world.
Gift Annuities
- Provide a lifetime income beginning now or later for one or two people
- Offer a fixed rate of return based on the rates of the American Council on Gift Annuities
- Are invested in peace, the environment, social and economic justice, and other Friends concerns
- Provide an income tax deduction in the year of the gift
- Provide partially tax-free income for the annuitant(s)’ projected lifespan
Charitable Remainder Trusts
Charitable Remainder Trusts are independent gift instruments that you create with an attorney. Usually funded with cash or securities, they provide a fixed or variable annual income, depending on the type of trust. Upon the death of the last income beneficiary, the balance of the trust’s assets is given to the Yearly Meeting. Like gift annuities, contributions to charitable trusts provide an income tax deduction in the year the trust is established. Typically, charitable trusts are established with contributions of $250,000 or more. If you are considering a charitable trust, we can help you to evaluate the options and discern a plan that is right for you.