Cash Donations

Gifts of cash via personal check, credit card, money order, or bank draft are the most popular ways to support FarmHouse. To make a gift you can:Send a check, credit card information or money order to:
The FarmHouse Foundation
7306 NW Tiffany Springs Parkway, Suite 210
Kansas City, Missouri 64153

Call us at (800) 722-1905

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Bequests

A bequest is a provision in your will that transfers property such as cash, securities or tangible property to an individual or a charitable organization like FarmHouse Foundation. For many donors a bequest offers the opportunity to make a more substantial gift than would be possible during a donor’s lifetime. Bequests offer the ability to significantly reduce your taxable estate and are a simple way to support a specific chapter or program while helping to ensure the enduring success of FarmHouse.

When you mention the Foundation in your will, we respectfully request that you let us know. Not only will this knowledge help us better plan for the future, it will also allow us to thank you appropriately and give your gift the recognition it deserves (if that is your wish).  We also want to make sure you have the opportunity to specify the use of your generous gift.There are various types of bequests that you may choose to make. Each type achieves different objectives.

• A specific bequest is the simplest form and designates a fixed dollar amount or specific property to a beneficiary. This type of bequest is appropriate when you have an item of value (stocks or bonds, real estate, works of art) or a definite dollar amount you wish to direct to a particular beneficiary.
• A percentage request leaves a specific percentage of the value of your estate to a beneficiary.
• A residual bequest designates all or a percentage of your estate after specific amounts have been allocated to other beneficiaries. This type of bequest adjusts in size as your estate increases or decreases over time.
• A contingent bequest leaves a beneficiary interest in assets, which it may or may not receive, depending upon the occurrence of specific but uncertain events.

Sample Bequest Language to Use:
Your bequest to The FarmHouse Foundation may be of a specific amount, or it may be a percentage of your estate: I give and bequeath to The FarmHouse Foundation, Inc. (Federal Tax I.D. # 36-6111880), a not-for-profit 501(c)3 trust agreement domiciled in Missouri, the sum of $ _________ (or ______ % of my estate) to be used by the Foundation in the fulfillment of it’s educational purposes as the Foundation Board of Trustees shall determine.

This information is intended to be of a general nature. We encourage you to consult with professional advisors concerning your own personal situation.

Click here to learn more about planned giving.

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Trusts

There are two types of trusts you can donate to The FarmHouse Foundation: a charitable remainder trust and a charitable lead trust.

A Charitable Remainder Trust is a trust under which the donor and/or a designated beneficiary receive income for life or a fixed number of years in return for the irrevocable transfer of cash or property to a trustee like the FarmHouse Foundation. When the trust terminates, the remainder interest is distributed to one or more charitable organizations, such as the FarmHouse Foundation.

By creating a charitable remainder trust, you may:

• Qualify for an immediate federal income tax deduction based on a portion of the value of the gift.
• Avoid capital gains tax on appreciated property used to fund the trust.
• Provide income for life or a term of years to the beneficiary(ies) you select (yourself, spouse, friends, adult children).
• Reduce your estate tax liability by removing assets from your estate.

A Charitable Lead Trust is basically the reverse of a charitable remainder trust. Assets placed in the trust generate annual income that is distributed to an entity like the FarmHouse Foundation. At the end of the trust term (a prescribed period of one or more person’s lifetimes, a set number of years, or a combination of the two) the principal returns to the donor or is transferred to a named beneficiary (typically, children or grandchildren).

By establishing a lead trust, you are, in effect “lending” an asset to the Foundation for the term of the trust and allowing the Foundation to benefit from the income the asset generates.

With a charitable lead trust, the donor can avoid gift or estate taxes through the ultimate transfer of assets to beneficiaries (family members). With such a transfer, the donor’s taxable estate is also greatly reduced. At the same time, the donor’s gift will greatly benefit the Foundation during the trust term.

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Memorial & Recognition Gifts

Making a gift in memory or recognition of an alumnus or loved one ensures the individual’s well-deserved legacy lives on within FarmHouse Fraternity and Foundation. Any amount can be directed toward this type of recognition. Names of memorialized alumni and the individuals who gave in their recognition or honor are included in Pearls & Rubies and in the Foundation’s Annual Report.

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Stock gifts

There are two major tax benefits that occur when gifts of stock are made. First, you are able to avoid capital gains taxes that would normally be paid on stocks that have appreciated in value. Second, you are allowed to deduct the full fair market value of the gift from your taxes for that year, provided you have owned the stock for more than one year.

Stocks can be transferred electronically from your brokerage account or can be sent through the mail if held in a certificate form. Please contact Allison Rickels, Executive Director, at 800-722-1905 or Allison@FarmHouse.org for transfer information and instructions.

A gift of stock is valued by using the average (mean) between the high and low prices on the date the gift is received by the Foundation. The gift date for securities transferred from your brokerage account is the day the transfer hits the Foundation’s brokerage account. If securities are mailed in certificate form, the gift date is the date it is received by the Foundation.

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Real Estate Donations

Gifts of real estate may include developed property, undeveloped property, or gifts subject to a prior life interest. Prior to acceptance of real estate, the Foundation shall require an initial environmental review of the property to ensure that the property has no environmental damage. In the event that the initial inspection reveals a potential problem, the Foundation shall retain a qualified inspection firm to conduct an environmental audit. The cost of the environmental audit shall generally be an expense of the donor. The Foundation will not accept a fractional interest property absent exceptional circumstances and then only upon approval of the Executive Committee of the Foundation.

When appropriate, a title binder shall be obtained by the Foundation prior to the acceptance of the real property gift. The cost of this title binder shall generally be an expense of the donor.

Prior to acceptance of the real property, the gift shall by be reviewed by the Fund-Raising Committee of the Foundation, and or legal counsel if necessary, with final approval by the full Board of Trustees.

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Insurance Policies

A fully paid up policy can be donated by naming the Foundation as the irrevocable owner and beneficiary of the policy. Donors are then entitled to an income tax deduction for an amount equivalent to the cash value of the policy. Life insurance is a useful vehicle for making a substantial gift for the future of the Foundation without removing major assets from your portfolio. In addition to the tax benefits to the donor, the large cash values resulting from relatively small premiums allow many donors to make more substantial gifts through life insurance than they could on a current outright basis.