EHM Senior Solutions and the Evangelical Homes of Michigan Foundation are supported annually from the generosity of thousands of donors whose financial resources help provide quality care, services, and welcoming homes to those served throughout the organization. Each charitable dollar received augments the charitable care EHM Senior Solutions provides to those unable to pay the full cost of care.
What assets can I contribute now?
A gift to make a real difference with the Evangelical Homes of Michigan Foundation is only a few clicks away. Our giving experts can help you plan your gift today or for the future. Contact us for more details.
Use your Credit Card or PayPal. You may use a major credit card (American Express, Master Card and Visa) to make an outright gift online.Donate Now
Cash or Check: Making a donation of cash is as simple as writing a check. Every dollar you give to the Evangelical Homes of Michigan Foundation will give you an income tax charitable deduction for the full value of the gift in most cases. A gift receipt will be provided for any size gift of cash or check. Please note that due to changes in IRS regulations, canceled checks are no longer sufficient proof of a deductible gift. Cash donations are only accepted at EHM Senior Solutions and Evangelical Homes of Michigan Foundation events.
Donors often overlook the value of using securities (stock) to make a charitable gift. If you give appreciated stock, in addition to an income tax charitable deduction, you will avoid some capital gains on the appreciation in value. Your income tax charitable deduction will vary based on the value of the stock. The maximum deduction you may take within a given tax year is 30 percent of your adjusted gross income.
If you have stock losses, sell the stock yourself to realize the loss and take the allowable deduction for tax purposes, then generate a charitable deduction by donating the cash proceeds of the sale to the Evangelical Homes of Michigan Foundation.
Charitable gifts of mutual fund shares are another great way to give. Appreciated mutual fund shares held for more than a year provide the same income tax deduction for the value of the gift as stocks held individually, without being taxed on the capital gain.
For the growing number of people whose retirement accounts are invested in mutual funds, these assets offer an important estate planning opportunity. By specifically allocating IRAs and similar retirement accounts to charity and other assets to heirs, significant taxes that otherwise would be owed can be avoided, leaving more for both individuals, beneficiaries, and charity.
Gifts of tangible items such as clothing, a rocking chair, antiques, art, and other various items may be donated subject to approval by the Evangelical Homes of Michigan Foundation staff. To claim a charitable deduction, you must obtain a gift receipt to verify your donation. It is recommended that you include a detailed description of the property, i.e. oak dresser, a CD player, 4 picture frames, etc.
You may claim a charitable gift deduction on your income taxes based on your good faith estimate of the fair market value of each of the items you donated. Please contact your financial advisor for additional information and assistance.
What assets can I contribute in the future?
Donors who wish to ensure that the good work of EHM Senior Solutions continues in the future may designate a gift through one of the following planned gift vehicles:
An existing life insurance policy is another way to make a charitable gift. You can either transfer the paid-up policy by naming the Evangelical Homes of Michigan Foundation as the owner and beneficiary or simply list as the beneficiary.
As a current gift: If you are 70 1/2 years or older and required to receive minimum distributions from your IRA, you may consider using those funds as a charitable gift by having your distribution come directly to the Evangelical Homes of Michigan Foundation rather than to you. You can make an outright gift using IRA funds up to $100,000. Tax law can be complicated, so for a detailed discussion on your particular situation please feel free contact us at 248-871-5005.
As a bequest: A portion of your retirement plan may be given as a bequest. It may be the most tax-efficient way to make a charitable gift because the distribution will not be subject to income or estate taxes, but if left to heirs it is taxable income. The simplest way to leave the balance of a retirement account to us after your lifetime, is to list us as the beneficiary on the beneficiary form provided by your plan administrator.
Giving property as a charitable gift provides multiple benefits to both the donor and the Evangelical Homes of Michigan Foundation. In most cases, your charitable deduction is based on the fair market value of the property at the time you make your gift. There are several ways to give property:
- A transfer of ownership to Evangelical Homes of Michigan Foundation as a current gift
- Evangelical Homes of Michigan Foundation owns the property but you continue to live in your home and/or work your farm
- An arrangement that generates income to you and/or your family
- A bequest provision in your will
If you are interested in any of these options, please contact the Evangelical Homes of Michigan Foundation to discuss the options in greater detail.Contact
As a current gift: It is not possible to donate bonds directly to the Evangelical Homes of Michigan Foundation. Instead, you can redeem the bonds and donate the cash proceeds to us. The redemption will trigger any unpaid interest income, which is the difference between the bond’s purchase price and its value when it is redeemed. Your charitable gift will be the redeemed value. You will be liable for the unpaid interest income, however the income tax charitable deduction you receive for the gift may reduce your tax liability.
As a bequest: The untaxed interest in savings bonds you own at death will be subject to income and estate taxes. By leaving the bonds to the Evangelical Homes of Michigan Foundation through your will, your estate will receive a charitable deduction for the full value of the savings bonds and avoid both income and estate taxes
Endowment & Memorial Giving
Creating a Memorial Endowment Fund
Family members may desire to create a lasting memorial in honor of their loved one. This can be done by creating a permanently endowed fund to support the mission of EHM Senior Solutions.
A memorial fund can be initiated at any time to commemorate a family member or friend, either at the time of death or in honor of a special occasion such as a birthday or anniversary. When the gift total reaches $25,000, the donor may decide to establish a named endowment fund. This means Evangelical Homes of Michigan Foundation will spend a portion of the fund’s interest annually, and then reinvest the remainder so the fund will grow and maintain value into the future. A named endowment fund can be established with an immediate gift, payments over a five-year period, a charitable gift annuity, or through a bequest.
Existing Endowment Funds
The Charitable Care Endowment Fund was established by the Board of Directors of EHM Senior Solutions in November 1996 as a means to enhance the mission of EHM Senior Solutions. The fund makes it possible to support the care of individuals whose financial resources do not cover the full cost of the care and support provided by EHM Senior Solutions, its divisions, and subsidiaries.
Gifts of any amount may be designated to the Charitable Care Endowment. The donor will have the satisfaction of knowing their gift will be added to the corpus of the endowed fund and therefore will continue to support the mission of EHM Senior Solutions in perpetuity.
A gift in memory of a spouse, parent, sibling or close friend is a meaningful way to honor the life of a loved one and to express sympathy at the time of their death. Memorial gifts to the Evangelical Homes of Michigan Foundation acknowledge the importance of the person’s life while supporting the mission of providing health care and housing to the elderly. This rings especially true for gifts that memorialize those who lived in an EHM Senior Solutions community or received care through the organization’s services.
Memorial gifts are generally directed to areas of greatest need within the organization. However, a family may prefer to designate such gifts for a specific facility, program, or fund. The Evangelical Homes of Michigan Foundation is happy to accommodate those wishes.
In an obituary, families may suggest that charitable donations in memory of their loved one be sent to Evangelical Homes of Michigan Foundation. The following or similar wording may be used:
Memorial gifts may be made to:
The Evangelical Homes of Michigan Foundation
34024 West 8 Mile Rd., Suite 101
Farmington, MI 48335
Want More Information?
We’re here for you.
Why Planned Giving?
There are many tax benefits associated with creating a planned gift that may save you taxes today, thereby leaving more assets to your heirs. Contact us or your own financial advisor for information. Donors who have thoughtfully included a gift to Evangelical Homes of Michigan as part of their estate plan will be recognized in the Zoar Legacy Society.Contact Us
We couldn’t do it without you.
Our gratefulness goes out to all of our donors and volunteers. Your generosity and compassion is truly appreciated and please know that it has made a difference in an untold amount of lives. EHM is proud to walk with you on our journey of service.