Donate - Friendly Senior Living (2023)

Giving appreciated assets that have been held for more than 12 months may offer you significant tax advantages. The long-term capital gains tax is eliminated, and you may be entitled to a deduction equal to the fair market value of the securities. Because of capital gains considerations, it may be more beneficial to contribute appreciated securities than to sell them and donate the proceeds. A donation of depreciated securities or closely held stock require special considerations. Please consult your tax attorney or financial advisor for guidance.

Donors may wish to make a multi-year pledge in support of a specific program. A pledge enables you to consider a larger investment with payments extended over months or years. Reminder notices will be sent accordingly. Pledges are tax-deductible only as payments are received. Please consult with our financial planner to determine the deduction amount.

After years of contributing to tax-deferred IRAs, income tax is due on that money when withdrawals are made in retirement. Annual withdrawals from traditional retirement accounts are required after age 70 ½, and are subject to income tax. The penalty for not withdrawing the required minimum distribution is 50% of the amount that should have been withdrawn. However, if you are in the fortunate position of not needing access to your annual distribution for your living expenses and are charitably inclined, you can avoid income tax on your required withdrawal by donating your funds directly to qualifying charities, such as the Friendly Home. This is known as a “qualified charitable distribution (QCD).

To find out if your company offers a gift-matching program, consult your human resources department about your company’s policy. You will probably need to fill out a form provided by your Human Resources Department about your company’s policy. If your company offers matching gifts, please contact us at 585-789-3154 at the time you make your gift.

You may choose to designate the Friendly Home as the recipient of your United Way donation. The Home’s donor option number is #1615.

These are gifts of property other than cash or credit card and marketable securities. Gifts-in-kind include gifts of services, supplies, equipment, books, artwork, etc. that are of value to the Friendly Home. To assure compliance with regulation, all in=kind gifts must be proposed in advance to Denise Hubler, Vice President, Marketing and Development.

You may donate almost any vehicle, including cars, trucks, boats, motorcycles and recreational vehicles. Your vehicle donation qualifies as a charitable deduction on your federal income tax return. The IRS allows you to take a charitable tax deduction on your federal income tax form equal to the amount the vehicle sells for at auction unless it sells for less than $500. If your vehicle sells for less than $500, you may deduct no more than $500. If your vehicle sells for more than $500, you will need to include IRS form 1098C, which will be provided to you after your vehicle sells. Friendly Senior Living has partnered with Vehicles for Charity to process donated vehicles. Please call 1-866-628-2277 for more information or to make arrangements to pick up your vehicle donation. You may also visit here

Funds raised during the Annual Appeal campaign are used to support Member care and services of the highest quality. A wide variety of Member educational, social and enrichment programs are supported by our Annual Appeal.

The Cloverwood-Glenmere Memorial Fund was established to benefit Members of the Cloverwood and Glenmere communities and includes gifts given in memory of Members and friends of Cloverwood and Glenmere.

Donors seeking to recognize employees of the Cloverwood-Glenmere community often choose to make a gift to this fund, which supports events and programs that benefit all Members of our dedicated Cloverwood-Glenmere staff. Because our employees are strictly prohibited from accepting tips from Members or their loved ones, a gift to this fund is an excellent way to honor staff.

While the community, the nation, and the world cope with the devastating impact of COVID-19, Friendly Senior Living has established a COVID-19 Relief & Impact Fund. Donations to this fund will continue to help support our organization’s critical needs during this time of moving forward from the crisis. The support of our friends in the community is more important now than ever. With your help, we will continue rebuilding – together, as we serve the older adults entrusted to our care with compassion and excellence. Thank you for your generosity, and for showing that friends care always!

While most of the world was on hold, our dedicated staff continued to be at the forefront every single day, caring selflessly for our Members at the highest level. In recognition of their profound commitment throughout this unprecedented time and moving forward, we have created an Employee Hardship Fund. Contributions to this Fund directly benefit our caregivers who may need additional support services (daycare, food assistance, transportation needs, etc.).

The Friendly Home Memorial Fund was established to benefit Members of the Home and includes gifts given in memory of Members and friends of the Friendly Home.

Donors seeking to recognize employees of the Friendly Home often choose to make a gift to this fund, which supports events and programs that benefit all Members of our dedicated Friendly Home staff. Our annual holiday celebration, service awards recognition event, and seasonal “Bagels on the Boss” are examples. Because our employees are strictly prohibited from accepting tips from Members or their loved ones, a gift to this fund is an excellent way to honor staff.

The Staff Education fund supports staff training beyond that provided by the departmental budgets, including specialized training opportunities relating to geriatric care.

Donors who don’t have a strong preference as to where their contribution goes may choose to donate to this fund, which is used wherever it’s most needed across the Friendly Senior Living continuum, in order to provide care and services of the highest quality.

Once your family and loved ones are provided for, consider giving a gift for The Friendly Home in your will or trust or by beneficiary designation. These gifts cost you nothing now and will continue your legacy for years to come.

Most retirement assets, including 401(k)s and IRAs, are among the most heavily taxed, making them an ideal opportunity for charitable giving once you no longer need the assets. Consider making The Friendly Home a beneficiary of your retirement assets and leaving other less-heavily taxed assets to loved ones.

Giving appreciated assets that have been held for more than 12 months may offer you significant tax advantages. The long-term capital gains tax is eliminated, and you may be entitled to a deduction equal to the fair market value of the securities. Because of capital gains considerations, it may be more beneficial to contribute appreciated securities than to sell them and donate the proceeds. A donation of depreciated securities or closely held stock require special considerations. Please consult your tax attorney or financial advisor for guidance.

The new tax code will makes this a great tool for non-itemizers who wish to bundle their charitable gifts in one year (in order to get the tax deduction) while ensuring that Friendly Home will continue to receive their annual support.

After years of contributing to tax-deferred IRAs, income tax is due on that money when withdrawals are made in retirement. Annual withdrawals from traditional retirement accounts are required after age 70 ½, and are subject to income tax. The penalty for not withdrawing the required minimum distribution is 50% of the amount that should have been withdrawn. However, if you are in the fortunate position of not needing access to your annual distribution for your living expenses and are charitably inclined, you can avoid income tax on your required withdrawal by donating your funds directly to qualifying charities, such as the Friendly Home. This is known as a “qualified charitable distribution (QCD).

Giving appreciated assets that have been held for more than 12 months may offer you significant tax advantages. The long-term capital gains tax is eliminated, and you may be entitled to a deduction equal to the fair market value of the securities. Because of capital gains considerations, it may be more beneficial to contribute appreciated securities than to sell them and donate the proceeds. A donation of depreciated securities or closely held stock require special considerations. Please consult your tax attorney or financial advisor for guidance.

After years of contributing to tax-deferred IRAs, income tax is due on that money when withdrawals are made in retirement. Annual withdrawals from traditional retirement accounts are required after age 70 ½, and are subject to income tax. The penalty for not withdrawing the required minimum distribution is 50% of the amount that should have been withdrawn. However, if you are in the fortunate position of not needing access to your annual distribution for your living expenses and are charitably inclined, you can avoid income tax on your required withdrawal by donating your funds directly to qualifying charities, such as the Friendly Home. This is known as a “qualified charitable distribution (QCD).