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Kitty & Charles: embracing Covenant House kids like their own grandchildrenQ.What inspires you to give to Covenant House kids?
Q.Whey did you choose to establish a special Charitable Remainder Trust?
A. Life is so very precious, especially young life with all its promise for the future. It's inconceivable to Charles and me that today, in the richest country in the world, thousands of young people are blatantly used and abused and their lives are wasted. Being a kid, on the street, alone, with no hope, is the worst thing imaginable. A. Because we really believe in this work, we felt we should do something special to support Covenant House. The 'charitable remainder' trust we chose makes our special contribution a reality, and the financial benefits make it easier to accomplish. The old stock we used to fund the trust had been accumulating for decades. It was time for a change. The increased income we now receive provides us comfort that we'll able to meet any future needs of our own. Q. What do you find unique about Covenant House's mission? A. We've been impressed with the compassion and dedication Covenant House uses to rescue these kids from life on the streets. So many of them are wounded - broken in body, soul and spirit. Because of Covenant House, these kids get a second chance in life. We really feel it's the Lord's work and that the people at Covenant House are blessed. Q. What would you describe as the greatest reward of giving? A. A few days ago, a woman said to me, 'I'm so sorry for you because you have no grandchildren.' We feel the kids at Covenant House are like grandchildren. Through Covenant House, we have a link to so many young lives. We may never meet these kids, but we know they are out there. And we know that with the help of Covenant House, they have a chance to make it. |
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Charitable Remainder Trusts Custom Designed for You
Of all the ways to provide support to Covenant House, the most sophisticated may be a Charitable Remainder Trust. Charitable remainder trusts can be tailored to meet the widest range of needs and goals. Each trust is individually planned, funded and administered. This individual handling allows the greatest flexibility in the assets used to fund the gift, the type and duration of income, and the ultimate use of the gift by Covenant House. A Charitable Remainder Trust is a personalized, meaningful contribution. Charitable Remainder Trusts provide income to the donor or others, after which the trust remainder will support our mission. But unlike the more simple Gift Annuity, the payments from a Charitable Remainder Trust can be customized to your needs. Payments can be fixed or variable to grow with the market. Payments can be deferred into the future. Payments can stop after a period of years. They can continue to you for life then to another person for life or a period of years. The payment options are almost unlimited to meet your needs. Cash or publicly traded stock can be used to establish a Charitable Remainder Trust, as well as a Gift Annuity. But unlike this simpler gift plan, a Charitable Remainder Trust can be funded with developed or undeveloped real estate, all or part of a principal residence, shares of a closely held corporation, tax-exempt bonds, IRA leftovers or even artwork. Virtually any substantial asset that has appreciated in value can be used to good advantage to fund a Charitable Remainder Trust avoiding capital gains tax. Like the Gift Annuity, Charitable Remainder Trusts usually provide taxable income to the income recipient. But Charitable Remainder Trusts provide the widest range of payment options. Fixed payments or variable payments designed to grow over the years are among the options. In special cases, Charitable Remainder Trusts may provide mostly tax-free income to a donor. Our Charitable Remainder Trusts receive high quality administration at no cost to the donor or to the trust.. A Charitable Remainder Trust can memorialize a loved one, or provide retirement income to an employee. Your gift can benefit your favorite program or program location of Covenant House; from Street Outreach to Job Training, from Endowment to the Mother/Child program at your local Covenant House. Your gift can also be left unrestricted to be used at the point of greatest need when the funds become available. The options are almost limitless. The Hartwig family discovered that the financial benefits of a Charitable Remainder Trust turned the goal of making a special contribution to Covenant House from a dream into a reality. Read more here. The Planned Giving team: We're committed to bringing you the best possible experience for your Planned Gift. QUESTIONS? For more information, please call Planned Giving toll free at 866-COV-HOUSE (866-268-4687), or for a prompt e-mail response, click on the button below. |
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