Legacy

GIVING

ADDITIONAL RESOURCES

Glossary of planned giving terms.

Annuitant: One who receives annual fixed payments from an annuity

Annuity: A fixed sum payable annually

Appreciated securities: Stocks and/or bonds that have increased in value since they were acquired

Beneficiary: The person named to receive the income from, or remaining assets of, a trust

Bequest: A gift through one's Will

Capital gains tax: The tax imposed upon profits realized from the sale of financial assets that have increased in value since they were acquired

Codicil: An addition to a Will that either modifies it or revokes part of it

Gift tax: A tax imposed on someone who gives money or property to another person without compensation

Irrevocable gift: A gift that cannot be annulled, undone, or changed

Mutual fund: An investment company that invests the money of its shareholders in a diverse group of securities of other corporations

Present value: The value, in today's dollars, of assets to be received at some future time

Principal: The initial sum invested or borrowed, or the remainder of that sum after payments have been made

Real property: Immovable property; land, together with all the property on it that cannot be moved, together with any attached rights; often referred to as "real estate"

Retained life estate: The right to use property for life (usually a residence or a farm) after contributing the remainder interest to a charitable institution

Retirement accounts: Qualified plans like IRAs and 401(k) accounts that permit individuals to accumulate savings tax-free for retirement

Tangible personal property: Includes movable objects (e.g. china, books, cars, clothes, art, etc.) but does not include land, buildings, or other forms of real estate (real property—see above), or stocks, bonds, copyrights, cash, or other "intangible" personal property

Trust property: Property held in trust by one person (trustee) for the benefit of another (beneficiary)

Variable income: Payments received on a regular basis that are subject to change, not fixed

gift type descriptions.

Gift Annuity

In exchange for your charitable gift, you or up to two other annuitants will receive a fixed annual income for life. This option provides you with stable support and makes a meaningful contribution to our mission.

Deferred Gift Annuity

Plan for the future while supporting New Heights. With this option, you or up to two annuitants receive fixed annual payments for life starting at a future date you choose.

Charitable Remainder Unitrust

Your gift funds a unitrust that pays a fixed percentage of its value, re-evaluated annually, to you or individuals you designate for life or a term of years. The remaining assets benefit New Heights NYC, helping us expand our programs.

Charitable Remainder Annuity Trust

Support our work while receiving a predictable annual income. This trust provides a fixed dollar amount each year to you or your designated beneficiaries, with the remaining assets contributing to our mission after the trust term ends.

Pooled Income Fund

Combine your gift with others to support student-athletes today and in the future. You or your beneficiaries receive a share of the income the fund earns annually for life. Afterward, your share supports our impactful programs.

Retained Life Estate

Make a transformative gift by deeding your home or farm to New Heights while retaining the right to live there for life, a term of years, or both. You’ll make a difference while preserving your living arrangements.

Charitable Lead Unitrust

Provide vital funding today. This trust pays a fixed percentage of its annual value to New Heights for a set term. Once the term ends, the remaining assets return to you or your designated beneficiaries.

Charitable Lead Annuity Trust

Please consider supporting our mission while preserving your legacy. This trust pays New Heights a fixed dollar amount annually for a defined period. Afterward, the accumulated assets return to you or your loved ones.

Planned giving options.

Appreciated Securities

By contributing appreciated assets—such as stocks, bonds, mutual funds, or real estate—you can support New Heights while obtaining an income tax charitable deduction for the asset’s full market value. You’ll also avoid the capital gains tax you would incur if you sold the asset outright.

Bequests or Living Trusts

A gift through your will or living trust ensures your legacy of supporting student-athletes while offering potential estate tax advantages. After fulfilling other obligations, you can designate a specific dollar amount or a percentage of your remaining estate.

Here is sample language to include New Heights in your will or living trust:

"I give, devise, and bequeath [assets/% share of the residue of my estate] to New Heights Youth, Inc., a nonprofit organization with its principal office at 1561 Bedford Avenue #2B Brooklyn, NY 11225 , for its general charitable purposes."

Retirement Plan Assets

By naming New Heights Youth, Inc. as a beneficiary of your qualified retirement plan, your gift becomes exempt from estate, income, and generation-skipping transfer taxes. This allows you to maximize the impact of your gift while reducing unnecessary tax liabilities for your heirs.

Life Insurance

If you no longer need all the life insurance you own, you can name New Heights as a beneficiary or contingent beneficiary. This allows your gift to be excluded from your taxable estate.

To increase the impact of your gift, consider naming New Heights as the irrevocable beneficiary and owner of your life insurance policy. You’ll receive an income tax charitable deduction equivalent to the policy's cash surrender value or replacement value. If premiums are still due, you may deduct these as charitable contributions.

Gift Annuities and Other Life-Income Gifts

Life-income gifts allow you to shape an arrangement that fits your needs while supporting New Heights. These gifts provide income to you or another person and can be structured to pay a fixed or variable income. Payments such as your planned retirement can commence immediately or at a future date.

Examples of life-income gifts:

  • Charitable Gift Annuities: Fixed income for life in exchange for your charitable gift.

  • Charitable Remainder Trusts: Variable or fixed income for you or your beneficiaries, with the remainder supporting New Heights.

New Heights Youth, Inc. is a 501(c)3 nonprofit organization. Our federal tax ID # is 20-1903332. Please consult with your tax professional to see how these alternatives may affect your tax liability.

The information provided on this page is not intended as legal, tax, or financial advice. We recommend consulting with your attorney, tax professional, or financial advisor to determine how planned giving strategies can meet your personal, financial, and philanthropic goals.
New Heights does not provide legal or tax advice, nor does it guarantee the financial performance or tax implications of any planned giving arrangement. All examples and descriptions provided are for illustrative purposes only. Please consult your own advisors to understand the specific implications of any gift.