Ways to Give
How we use your donations...
The Children’s Home of Wheeling receives a set bundled daily rate to provide for the treatment and medical needs of the youth in our residential treatment program. This funding is provided through the WV Bureau for Children and Families and the WV Bureau of Medical Services.
Through the continued support from our donors, we are also able to pay for additional services, quality of life programming, and campus facility maintenance/security needs. Your generosity helps us to maintain a full-time education coordinator, fund our art and music programs, cooking/nutrition classes and gardening. It also provides school activity fees/athletic equipment, graduation fees, tickets to community activities, etc.
Enriching experiences beyond shelter and treatment help to prepare each young man for successful re-entry into
the community.
Current Gifts
Cash and Pledges
Ask if your employer has a matching gifts program so you can double your contribution and provide treatment and quality of life services for twice as many youths in our care.
In-Kind Tangible Gifts of Personal Property
In-kind gifts are a wonderful way to make a non-monetary gift to The Children’s Home of Wheeling. Gifts of goods and services that help to support the quality of life of the children in our care are always welcome.
Perhaps you have appliances that you no longer need or art, rare books, stamps or antiques. In-kind gifts give you the satisfaction of sharing what you no longer need while you enjoy valuable tax benefits.
For example, a gift of personal property made during your lifetime entitles you to an income tax deduction and reduces taxes on your estate. If the gift is made through your will, your estate will benefit from estate tax savings.
To receive these favorable tax benefits for gifts of personal property, the use of your gift must be related to the purposes of The Children’s Home of Wheeling.
Event Corporate Sponsorship
Your corporate sponsorship of one of our fundraising events furthers our mission. We will acknowledge that your business beforehand in publicity and during the fundraising event.
Stocks & Securities
Making a gift of appreciated securities (stocks, bonds, or mutual funds) to The Children’s Home of Wheeling is easy and has special tax benefits.
When contributing securities that you have held for more than one year:
- The Children’s Home of Wheeling receives a gift equal to the market value.
- You can take a charitable tax deduction equal to the market value (up to 30% of your adjusted gross income) of the securities if you itemize your tax return.
- You avoid paying any capital gains tax and you remove the value of the securities from your taxable estate.
Real Estate / Investment Properties
One of the most valuable assets you might want to consider giving to The Children’s Home of Wheeling when you no longer need it is your home, vacation home, commercial property, undeveloped land or other real estate property. You have the option of giving the property today through a transfer of deed, or you can elect to continue living in the property, with an agreement to pass ownership to The Children’s Home of Wheeling at your death. There are several ways to make a real estate gift to The Children’s Home of Wheeling, each with its own benefits:
- You can choose to give the property outright and receive a federal income tax deduction equal to the current fair market value of the property (up to 30% of your adjusted gross income). This gift also permits you to avoid any potential capital gains tax on the built-in appreciation.
- You can choose to use a gift of real estate to fund an annuity life income arrangement, where you contribute the real estate in exchange for a lifetime income from the property. Under this option, the property is used to fund a type of charitable remainder unitrust. It will provide you and/or another beneficiary with a lifetime income from the trust. Further, you would be entitled to a current federal income tax charitable contribution deduction equal to the value of The Children’s Home of Wheeling’s remainder interest in the property. Plus, it avoids tax on the property’s gain.
- You can choose to give real estate to The Children’s Home of Wheeling, but retain the right to continue to live there until your death. (retained life tenancy) With this option, you agree to pay the costs of maintaining the property while you are living in the home, and receive a substantial charitable tax deduction in the year you transfer ownership.
You can also leave the real estate in your will. This will give you a current tax deduction and a federal estate tax charitable deduction for the fair market value.
Gift Annuities
A charitable gift annuity is an excellent way for you to support The Children’s Home of Wheeling, while ensuring your financial future. A charitable gift annuity is a simple contract between a donor and The Children’s Home of Wheeling, where The Children’s Home of Wheeling agrees to make fixed annuity payments for life to you or someone else you designate, in return for a gift of cash or marketable securities.
Annuity Payments:
Payments are made to you (or whomever you designate as the beneficiary) at an agreed upon amount on an agreed upon schedule for the remainder of your life. Payout rates are determined based on the age of the income beneficiary and the amount of the gift. At the time of your death, any remaining balance is disbursed to The Children’s Home of Wheeling.
Tax Implications:
As the donor, you may take a federal income tax deduction during the year the gift is given, as a contribution to charity, minus the total amount of any annuity payments made to you or your designated beneficiary during that tax year.
Planned Giving
Life Insurance Benefits
Some of our supporters find that they no longer need their life insurance that was purchased years ago to provide for children or other family members. A life insurance policy is an excellent way to make a substantial gift to The Children’s Home of Wheeling at a relatively low cost, where you can:
- Transfer all or part of an existing life insurance policy to The Children’s Home of Wheeling, resulting in an income tax deduction based on the cash surrender value of the insurance policy.
- Establish a new life insurance policy, naming The Children’s Home of Wheeling as the owner and beneficiary to make a substantial, tax-efficient gift. You can then make future premium payments in the form of tax deductible gifts to The Children’s Home of Wheeling
- Assign dividends from a policy to The Children’s Home of Wheeling. A whole life insurance policy provides for the payment of a death benefit and also contains an investment provision for creating cash value. This type of insurance policy can be given to The Children’s Home of Wheeling. Upon the death of the insured individual, The Children’s Home of Wheeling will receive the death benefit amount and will apply it to the program/purpose that you designate.
Charitable Bequest / Your Will
Cash
- One of the simplest and often most overlooked ways to make sure your charitable legacy lives on after you are gone is a “bequest” in your will. It is a gift of a certain cash amount or a percentage of your estate to a charity at your death.
Stock/Securities
- Making a gift of appreciated securities (stocks, bonds or mutual funds) to The Children’s Home of Wheeling is easy and has special tax benefits.
Example
You donate stock that you purchased five years ago for $2,500 that is now worth $10,000. You can take a federal charitable tax deduction of $10,000, and avoid paying any capital gains tax, which saves you a total of $4,600 in federal income tax. (See example below: amount may vary based on individual tax rate.)
Making a gift of stock to The Children’s Home of Wheeling is very simple, involving an electronic or paper transfer from your stockbroker or mutual fund company to our account.
Example
Dorothy Williams was considering a gift of $20,000 to The Children’s Home of Wheeling, in honor of her grandmother. She inherited stock in 1990 at a cost basis of $5,000. Today the value is $20,000. The gift of stock provides a double benefit (a charitable tax deduction of $20,000 and the capital gains saved on the $15,000 appreciation)
When contributing securities that you have held for more than one year:
The Children’s Home of Wheeling receives a gift equal to the market value of the securities
You can take a charitable tax deduction equal to the market value (up to 30% of your adjusted gross income) of the securities if you itemize your tax return
You avoid paying any capital gains tax
You remove the value of the securities from your taxable estate
Gifts in Memory/Honor of...
In Memory of…
Celebrate the memory of a friend or family member by donating to The Children’s Home of Wheeling. It’s a meaningful way to show his/her family how much their loved one has meant to you and how their memory will live on in your heart.
- The amount of the donation remains anonymous.
- The person(s) you designate will receive notification of your generosity.
In Honor / In Tribute of…
Our In Honor/Tribute gifts enable donors to make a contribution to the Foundation in honor of someone special. It is a wonderful gift for the holidays, anniversaries, birthdays or just to let someone know that you care about them while supporting the important mission of The Children’s Home of Wheeling.
You will receive a receipt acknowledging your tax-deductible donation and we will send a notification to your loved ones letting them know that a donation has been made in their name.
- The amount of the donation remains anonymous.
- The person(s) you designate will receive notification of your generosity.
Thank You!
The Children’s Home of Wheeling wants to thank and express appreciation for the support we receive from our generous donors. For gifts of $500 or more to The Children’s Home of Wheeling, we are able to award Neighborhood Investment Program tax credit vouchers from the WV Department of Development! These tax credits are offered on a first-come, first-served basis to our special donors to The Children’s Home of Wheeling. Timing of tax credit availability varies. For more information, please call (304) 233-2367.
Neighborhood Investment Program tax credits may be applied against taxes owed on one of these three West Virginia taxes:
- WV Personal Income Taxes
- WV Business Franchise Taxes
- WV Corporate Net Income Taxes
Tax credits are much more valuable to you than tax deductions, because WV Neighborhood Investment Program tax credits directly reduce your West Virginia tax liability equal to the amount of the tax credit (1/2 of the donation). Simply send the voucher, along with the attached Program Worksheet, (Tax form WV/NIP-2) and include it with the appropriate WV tax form (Deduct the tax credit amount from the tax due amount.)
There are a few minor limitations:
- Minimum Eligible Gift $500
- The credit cannot cause your total liability to be reduced by more than 50%
- List Item #3 all tax credits must be taken within a 5 year period
Following Your Donation:
The Children’s Home of Wheeling will issue a Tax Credit Voucher (Tax form WV/NIP-1) to you, specifying the amount and type of donation.
Please share this important information with your tax advisor. For more detailed information, please contact Chasity Birkett at The Children’s Home of Wheeling by calling (304) 233-2367, ext. 257, or by email at cbirkett@chowinc.org.