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Donations
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Giving
to NAMI of Greater Chicago |
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NAMI of Greater Chicago is incorporated as a not-for-profit
corporation in the State of Illinois under the name: Alliance
for the Mentally Ill of Greater Chicago. The federal government
has determined that the organization is a tax-exempt charity
and has designated it a 501(c) (3) organization. All donations
to NAMI of Greater Chicago for which no goods or services were
rendered are tax deductible.
Click
here for the donation/membership form. |
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Donations |
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By giving a tax-deductible gift to NAMI of Greater
Chicago (NAMI-GC), you become part of the help and healing that
NAMI offers every day. Your support is critical to sustain NAMI-GC's
programs. All gifts are appreciated, and the donor will receive
a thank-you note or letter.
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Our
500 Club |
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Annual membership contributions of $500 and above
offer you membership in NAMI-GC's 500 Club. NAMI-GC 500 Club
members enjoy the status of knowing that their contributions
are vital in sustaining the organization and are recognized
at an annual NAMI-GC 500 Club gathering. In addition to this
recognition of their special membership status, NAMI-GC 500
Club members enjoy all of the benefits of membership
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Making
an outright gift to NAMI |
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Gift of Cash - all outright gifts of cash
are fully tax deductible.
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General Donations support ongoing
programs and projects, like our Information and Referral
services which are now responding to more than 4,000 requests
annually.
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Earmarked Donations support specific program
target areas including: ? Educational Programs, ? Anti-Stigma
Activities, ? Children & Adolescent Needs, ? Older Adults
Needs, ? Endowment Account, or ? A Special Project designated
by the Donor.
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Memorial Gifts are made in memory of a deceased
family member or friend, often in lieu of flowers. Any
size gift is appreciated. Donors receive a thank you and
notification of the gift is sent to the indicated individual(s).
Memorials gifts are also printed in our newsletter.
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Tribute Gifts are made in honor
of family or friends for any occasion such as Mother's
or Father's Day, birthdays, wedding anniversaries, graduations,
retirement recognition, or any other notable occasion
to show how much you care. Donors receive a thank you
and a notification of the gift is sent to the indicated
individual(s). Tribute gifts are also printed in our newsletter.
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Matching Gifts are made by employers who
match their employees' gifts to NAMI of Greater Chicago.
Check with your human resources/benefits office to see
if your employer offers this benefit.
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Gift of Securities - gifts of securities
are deductible at the current fair market value. |
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Gifts of Appreciated Stocks or Bonds can
be made directly into our established account. The donor
receives a letter acknowledging the current fair market
value of the stock. Gifts of securities are deductible
up to 30 percent of your adjusted gross income, with the
five year carry-over option. Please call us for further
information on arranging the transfer of stocks or bonds.
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Gift of Other Property - gifts
of property are deductible at the appraised value. |
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 Automobile Donations - NAMI of Greater Chicago now has the capacity
to accept your donations of used vehicles in exchange for a tax deduction for the market value of the vehicle.
To donate, call the office, or log on to www.donateacar.com, click on the Donation tab on the left hand side
of the welcome screen and fill out the information on the form. Please be certain to pull down
the name National Alliance for the Mentally Ill, Greater Chicago. |
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Tangible Personal Property including works
of art, antiques, books, gems or precious stones are appreciated.
Tangible property gifts qualify for a tax deduction equal
to the appraised value of the item on the day of the gift.
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Real Estate including any type of real property
- a personal residence, a farm, a vacation home, a commercial
building, or an undeveloped parcel of land - can constitute
a gift. Gifts of real estate can be made either as an
outright gift or through a will or trust (discussed under
Planned Giving). If the property is given as an outright
gift, you will generally avoid any tax on the gain, and
receive a charitable contribution deduction for 100 percent
of the fair market value of the property. |
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Planned
Giving |
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Wills and Trusts naming the Alliance for the Mentally
Ill of Greater Chicago (NAMI of Greater Chicago) as a beneficiary
of a set amount, or a given percentage, of your estate are always
appreciated. Bequests Included in Wills are an excellent way
to support the organization in the future. If you choose this
method of giving to the organization, please take the time to
provide us with the name, address and phone number of the attorney
who prepared your will as this may be useful to us in the future.
There are three basic categories of bequests: specific, general
and residuary, and the variation of contingent bequests described
below. |
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Specific bequests are outright gifts of
money, securities or other property. In your Will, you
describe an item and assign that item to an individual
or organization, for example, "I give all of my shares
of IBM stock to the Alliance for the Mentally Ill of Greater
Chicago." Specific bequests are honored after debts and
expenses of your estate are paid and before other bequests
are distributed. |
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General bequests are similar
to specific ones in that you may specify a particular
item, for example, "I give the sum of $25,000 to the Alliance
for the Mentally Ill of Greater Chicago (also known as
NAMI of Greater Chicago)." Your executor will honor the
bequest from any available source in your estate. |
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Residuary bequests, take care of what remains
in your estate after all expenses have been paid and all
specific and general bequests have been honored. |
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Contingent bequests take effect only in
the event that all other bequests, for whatever reason,
fail. This type of bequest is a rider that attaches itself
to a bequest and comes into play only when certain specified
conditions are met. For example, your Will could state
that if your other heirs pre-decease you, your entire
estate should be donated to the Alliance for the Mentally
Ill of Greater Chicago. |
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Charitable Trusts may be established
during your lifetime, or through your Will. The manner
in which the trust is established - that is, to whom the
trust income is taxed - determines whether or not you
receive an income tax deduction. A trust is a legal arrangement
that creates a fiduciary relationship in which the legal
owner of the property (the trustee) holds and manages
the trust's property (the corpus or res) for the use and
benefit of someone else (the beneficiary). The property
is transferred to the trust from an individual ( the grantor
or trustor) and is held by the trustee for the specific
purposed outlined by the grantor in the trust agreement.
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A personal trust may be set up during your
lifetime by a transfer of property to the trust; this
is known as a living or inter vivos trust. If the trust
is created by Will, or by a transfer of property upon
your death, it is known as a testamentary trust. You may
set up a trust to achieve or carry out almost any legal
purpose, distribution or activity. |
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Charitable Lead Trusts offer a way to support
our programs now and to transfer substantial assets to
beneficiaries (children or grandchildren, for instance)
with the potential for significantly lowered gift and
estate taxes. With a Charitable Lead Trust, you transfer
property - such as real estate, securities, bonds, partnership
interests, oil and gas properties, and the like - to a
trust. The trustee may be either yourself, a bank, the
organization or any combination thereof. The trust pays
an annual amount (a fixed amount or a percentage of the
trust principal) to this organization for a specified
period. After this time, the property returns to you or
a non-charitable beneficiary - usually a family member
in the next or succeeding generation. The property is
generally appreciated and transferred with significantly
reduced gift or estate taxes. For a Charitable Lead Trust
benefitting a not for profit organization such as the
Alliance for the Mentally Ill of Greater Chicago, you
may obtain an income tax deduction of up to 30 percent
of your adjusted gross income, with a five-year carry-over
of any excess. |
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Charitable Gift Annuity is essentially an
annuity contract. A Charitable Gift Annuity is created
when you irrevocably transfer assets to the organization;
in return, we agree to make regular, fixed payments to
you for the rest of your life. The transaction is both
a purchase of an annuity and a charitable contribution.
Your benefits include guaranteed, specified, regular income,
part of which may be tax-free; an immediate income tax
deduction; possible estate tax saving; and, if appreciated
property is given, favorable tax treatment on the gain.
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Charitable Remainder Annuity
Trusts can provide an income to you during your lifetime,
or a loved one for whatever period you designated, after
which the proceeds are donated to NAMI of Greater Chicago.
Charitable Remainder Annuity Trusts are created by irrevocably
transferring cash, securities or property to a trust for
the benefit of the organization. In exchange, you and/or
your designated beneficiaries will receive a fixed dollar
amount, a least annually, for life or for a fixed term
up to 20 years. At your death, the death of your beneficiaries
or the end of the term, the trust terminates and the assets
are transferred to the organization. Please contact your
attorney or financial advisor for details on Charitable
Remainder Annuity Trusts. |
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Charitable Remainder Unitrust is a trust
fund established when you transfer assets to a trustee
for the benefit of the organization. As with other life
income plans, you retain an income interest in the property
and continue to receive the income from it for as long
as you live, for your lifetime and that of another beneficiary,
or for a fixed term up to 20 years. Because the organization
is given a remainder interest (we receive the principal
at the termination of the trust), you become eligible
for substantial tax benefits. A Charitable Remainder Unitrust
pays a pre-agreed upon payout that is a percentage of
the trust assets, as valued annually. A Charitable Remainder
Unitrust provides an excellent hedge against inflation;
moreover, you may make additional transfers of cash, securities
or property after the unitrust has been established, assuming
the trust agreement permits such additions. If the trust
is funded with cash, you may deduct up to 50 percent of
your adjusted gross income annually; if it is funded with
appreciated securities, you may deduct up to 30 percent
and the five-year carry-over provisions apply. |
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Life Insurance - sometime you may reach
a point where life insurance no longer has the financial
significance for your family that it once did. In that
case, you may wish to make a gift of the policy to the
Alliance for the Mentally Ill of Greater Chicago (NAMI
of Greater Chicago). There are two ways to do this...
You may make the organization the owner of the policy.
This allows you an immediate tax deduction. If the policy
is fully paid up, your deduction is equal to the replacement
value of the policy, unless that value exceeds the tax
or cost basis. If premiums remain to be paid, the deduction
is approximately equal to the cash surrender value. If
you continue to pay the premiums on the policy, you will
be entitled to a charitable contribution deduction up
to 30 percent of your adjusted gross income. |
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You may also name the organization as the
beneficiary of your policy. Since the designation is not
irrevocable, it cannot be counted for any immediate tax
savings. However, upon your death, your executor may take
a federal estate tax charitable deduction for the entire
amount, thus reducing the estate tax liability for your
heirs. |
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All donations to NAMI of Greater Chicago
are acknowledged with a note or a letter indicating the
value of the donation. Please consult with your tax consultant,
financial advisor, and/or attorney for specific benefits
to your personal situation from making a donation. |
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Prepared by: Suzanne M. Andriukaitis, M.A.,
LCSW |
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Executive Director |
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For additional information on any of these
giving options, please contact Suzanne at (312) 563-0445.
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