Types of Giving:
Unrestricted or discretionary funds are important to nonprofit organizations. These undesignated contributions provide available funding that can easily and quickly be directed to areas of the most need.
The Friendship Foundation has established several charitable giving funds. Donors may designate their contributions to the Friendship Foundation to a specific fund or purpose at Glencroft. Some of the possible funds include:
• The Campus Wide Fund provides support for projects related to the whole Glencroft campus.
• The Care Center Fund provides funds for projects at Providence Place, Glencroft’s skilled nursing facility.
• The Sarah Ruth Endowment Fund provides for the future needs and growth of Glencroft. Interest earned from this fund helps to pay for building construction, facility repairs and maintaining current programs for our residents.
• The Spiritual Life Fund supports the Spiritual Life program at Glencroft. As a community founded on Christian principles, Glencroft has a robust spiritual life program to complement our campus life activities. Open to the public is our Community of Faith at Glencroft church, weekly vespers service, daily devotionals, various prayer groups and bible studies as well as mission efforts to extend to local and global needs.
• The Zion Endowment Fund provides assistance through the Resident Benevolent Fund for those residents who need additional financial support to take care of life’s necessities.
Please feel free to contact the Friendship Foundation staff to discuss how you would like your gift to be used.
Ways to Give:
Gifts That Make a Difference Today
A gift of cash has an immediate impact on Glencroft.
Employees of Glencroft may make a gift or pledge by completing a payroll deduction form.
Our electronic donation form is accessible by clicking HERE
When you donate appreciated securities, it provides an immediate benefit to Glencroft and the maximum income tax deduction to you.
Gifts of appreciated stock or mutual fund shares that have been held for at least one year qualify for an income tax deduction equal to the current market value of the transferred assets. By transferring these assets directly to the Friendship Foundation, you also avoid capital gains tax. For most people, this double tax savings makes a gift of appreciated securities a very cost-effective gift option.
Many companies sponsor matching gift programs and will match any contributions made by their employees. To determine whether a company will match your gift, contact a company representative for information.
Mail your completed matching gift form to:
Friendship Foundation, Matching Gifts
8711 N. 67th Avenue
Glendale, AZ 85302
Corporations and businesses may qualify for a tax deduction when contributing equipment, inventory or other assets used in the course of business. Equipment and other assets may need to be valued by an independent appraiser for gifts over $5k for tax purposes. In-kind gifts of personal property may be accepted from individuals but the gift must have a related use. When donated for related purposes, gifts are recognized at their fair market value.
Real estate can be contributed as a current outright gift or a gift through your estate. It also may be given to finance a deferred gift such as a charitable remainder trust. Gifting options also allow for continued use of the property for your lifetime or for lifetime income. All gifts of real estate, such as a residence, farm, undeveloped land, vacation home, or commercial property should be discussed with your legal and financial advisors.
Charitable Lead Trust
A charitable lead trust enables you to make a substantial gift to the Friendship Foundation over a period of years. These trusts, usually funded with income-producing assets that are expected to appreciate, pay an income to the Foundation. At the end of the term, the assets can either revert back to you or be passed on to those you designate, typically your children or grandchildren. Some donors are more concerned about preserving their estates for their children than they are about increased income or current income tax savings. They choose a lead trust as a means of sheltering their estate while also providing a gift to the Friendship Foundation. When considering a charitable lead trust in your estate or income tax planning, consult your financial and legal advisers.
Donor Advised Funds
Donor Advised Funds have become a popular way of supporting charities while exercising more control and input that is available with an outright gift. They are convenient, flexible tools for individuals, families, businesses, or groups that want to be personally involved in suggesting grant awards made possible by their gifts. Donor-Advised Funds are typically less costly and easier to administer than other forms of philanthropic giving. Donors interested in establishing a Donor Advised Fund should contact their legal and financial advisors.
Gift Plans That Create Opportunities For The Future
Gifts made through your will or trust, called bequests, enable you to retain total control of your assets during your lifetime and determine the distribution of your assets upon your death. For many Glencroft residents and friends, a commitment to include the Friendship Foundation in a revocable will or trust is the most effective way to make a major gift commitment. Whether providing for a spouse, children, grandchildren or charitable organization, your will/trust should be prepared with the help of an attorney and reviewed regularly.
The development office will provide suggested language to you and your attorney for your will or trust to designate a gift to Glencroft through the Friendship Foundation. Documenting these gifts assures you that your philanthropic intentions will be fulfilled.
If you wish to defer your charitable gifts until the time of death, the best assets to use may be your IRAs, employer sponsored retirement plans, annuities or other assets upon which income tax has been deferred. By using such assets for charitable gifts, the accrued income tax liability is avoided. The easiest way to donate your IRAs or qualified plan balances to Glencroft at the time of death is simply to name the Friendship Foundation on a beneficiary designation form provided by the IRA custodian or retirement plan administrator.
Gifts of life insurance enable you to make a substantial future gift by making small premium payments over time. There are several ways to make a gift to the Friendship Foundation through life insurance. You may change the beneficiary of an existing policy. This will not provide an income tax deduction, but you will retain ownership of the policy. You may also purchase and donate a new or existing policy, and transfer ownership to the Friendship Foundation. The contract’s value and premiums, given to Glencroft through the Friendship Foundation, may qualify for an income tax deduction. Upon your death, the insurance proceeds go to the purpose you designated.
Gifts That Create An Income Today and Provide for Glencroft Tomorrow
A life income gift allows you to contribute assets to the Friendship Foundation while retaining an income. One of the key benefits is the reduction or bypass of capital gain, allowing the full value of the asset to generate income for you or others and eventually support your area of choice at Glencroft.
Life income gifts can be structured to fit a variety of needs, including a choice of a fixed income or a market-sensitive income. The two main types of life income gifts are charitable remainder trusts and charitable gift annuities. Each has a different use and tax result.
Charitable Gift Annuity
The charitable gift annuity is not a trust, but a contract between you and the Friendship Foundation. In exchange for your irrevocable gift of cash or appreciated assets, the foundation agrees to pay a fixed sum each year for life to one or two annuitants (income beneficiaries), named by you. Gift annuity payments are based upon the initial market value of the assets contributed and the ages of the income beneficiaries at the time of the gift. The older the beneficiaries, the greater the annuity payout will be. When the gift annuity ends, the remaining assets are used by the Foundation for the purpose you designate.
Charitable Remainder Trust
A charitable remainder trust is created when you place assets into an irrevocable charitable trust and name a trustee (for example, the Friendship Foundation). The trust invests the assets and pays an income to you, or other beneficiaries you select, for life or for a set term of years. When the trust ends, the remaining assets are used for the purpose you designate at Glencroft.
Trusts and annuities are typically managed by a third party, usually a commercial trust company. Donors should involve their legal and financial advisors early in in the planned giving process.
Who do I call if I have questions?
After determining which gift vehicle is right for you, consult your financial advisors. The professionals in the Development Office are also available to answer questions help and you and your advisors accomplish your philanthropic goals and charitable intent.
To learn more about the Friendship Foundation, please contact:
• Kaye Baker, VP of Development firstname.lastname@example.org or 623-847-3199
• Wendy Harrold, Development Coordinator email@example.com or 623-847-3018
The Friendship Foundation Heritage Society was established to recognize those generous individuals who have planned to leave a legacy to Glencroft that will help to carry on the organization’s mission. By making a planned gift, these supportive friends help to ensure that Glencroft will continue to provide quality services for seniors in this community for years to come.
Individuals become members of the Heritage Society by making us aware that they have made a planned gift to the Friendship Foundation.
Donations come in the form of naming the Foundation as a beneficiaray of a will or trust, the gift of an annuity, or any other planned giving vehicle.
How Donations are Used
Members have the opportunity to discuss with Foundation staff how they would like their gift to be used.
Options include helping to grow the Zion or Sarah Ruth Endowment Funds, funding for a special project or program, or for wherever there is the greatest need...
How to Join
It is easy to become a member. If you have already made provision for Glencroft in your estate planning or if you would like more information about how to make a planned gift, contact:
#StartWithaSmile at smile.amazon.com/ch/86-0501985 and Amazon donates to Friendship Foundation Inc.