Ways of Giving

Evangelical Homes of Michigan is supported annually from the generosity of thousands of donors whose financial resources help us provide quality care and services and welcoming homes to those we serve throughout the organization. Each charitable dollar we receive augments the charitable care we provide to those unable to pay the full cost of their care.

What assets can I contribute now?

What assets can I contribute in the future?

Donors who wish to ensure that the good work of Evangelical Homes of Michigan continues in the future may designate a gift through one of the following planned gift vehicles:

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.

Cash or Credit Card

Cash or Credit Card: Making a donation of cash is as simple as writing a check. Every dollar you give to Evangelical Homes of Michigan (EHM) will give you an income tax charitable deduction for the full value of the gift in most cases. We will send you a gift receipt 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.Credit Card: You may use a major credit card (Master Card and Visa) to make an outright gift online.

Make a Gift to Our Senior Communities

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Endowment

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.

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 an endowed memorial fund. This means EHM 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 memorial fund can be established with an immediate gift, payments over a five-year period, a charitable gift annuity, or through a bequest.

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Existing Endowment Funds

The Charitable Care Endowment Fund was established by the Board of Directors of Evangelical Homes of Michigan in November 1996 as a means to enhance the mission of Evangelical Homes of Michigan. 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 Evangelical Homes of Michigan, 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 Evangelical Homes of Michigan in perpetuity.

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Life Insurance

An existing life insurance policy is another way to make a charitable gift. You can either transfer the paid-up policy to EHM by naming us the owner and beneficiary or simply list EHM as the beneficiary.

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Memorial Giving

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 Evangelical Homes of Michigan (EHM) acknowledge the importance of the person’s life and at the same time, support the EHM mission of providing health care and housing to the elderly. This rings especially true for gifts that memorialize those who lived in EHM communities or received care through EHM services.

Memorial gifts are generally directed to areas of greatest need within EHM. However, a family may prefer to designate such gifts for a specific facility, program, or fund, and EHM 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. The following or similar wording may be used:

Memorial gifts may be made to:
Evangelical Homes of Michigan
34024 West 8 Mile Rd., Suite 101
Farmington, MI 48335

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Real Estate

Giving property as a charitable gift provides multiple benefits to both the donor and Evangelical Homes of Michigan. 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 EHM as a current gift
  • EHM owns the property but you continue to live in your home 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 us. We would be pleased to discuss these options with you.

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Retirement Plan Assets

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 Evangelical Homes rather than to you. You can make an outright gift using IRA funds without tax complications, due to current IRA legislation.

While you cannot claim a charitable deduction for the IRA gift, you will not pay income tax on the amount.

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.

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Savings Bonds

As a current gift: It is not possible to donate bonds directly to EHM. 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 full value of 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 Evangelical Homes of Michigan 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

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Securities

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 capital gains on the appreciation in value. Your income tax charitable deduction is the full fair market 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 Evangelical Homes.

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Tangible Personal Property

Gifts of tangible items such as clothing, a rocking chair, antiques, art, etc.may be donated subject to approval by EHM 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.

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