Wills
How Does it Work?
- Include a gift to the IMD Guest House Foundation (Guest House) in your will or trust.
- Your bequest will support the overall mission of Guest House.
- Indicate that you would like a percentage of the balance remaining in your estate or trust, or indicate a specific amount.
- Tell us about your gift so we may celebrate your generosity now!
- Contact Dionne Nicole Smith for more information or to tell us about your decision: dsmith@guesthousechicago.org
Why Include Guest House in my Will?
- Your assets remain in your control during your lifetime.
- You can modify your gift to address changing circumstances.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
- Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
The gift planning information presented on this Planned Giving website of Guest House is not offered as legal or tax advice.
Stocks, Bonds, or Mutual Fund Shares
How Does it Work?
- You transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to Guest House.
- Guest House sells your securities and uses the proceeds for our programs.
- View our Donor Instructions Letter to learn how the process works: Donor Instructions Letter – IMD Guest House Foundation
What are the Benefits?
- You receive an immediate income tax deduction for the fair market value of the securities on the date of transfer (even if you originally paid much less for them).
- You pay no capital gains tax on the transfer when the stock is sold.
- Giving appreciated stock can be more beneficial than giving cash. The “cost” of your gift is often less than the deduction you gain by making it.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
The gift planning information presented on this Planned Giving website of Guest House is not offered as legal or tax advice.
Retirement Plans
How Does it Work?
- Name or designate the IMD Guest House Foundation (Guest House) as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
- Pass the balance of your retirement assets to Guest House by contacting your plan administrator.
- Tell Guest House about your gift so we may celebrate your generosity now. Your plan administrator is not obligated to notify us, so if you don’t tell us, we may not know.
What are the Benefits?
- Continue to take regular lifetime withdrawals.
- Maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
- Your heirs avoid the potential double taxation on the assets left in your retirement account.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
The gift planning information presented on this Planned Giving website of Guest House is not offered as legal or tax advice.
Qualified Charitable Distributions (IRA Rollovers)
To Qualify:
- You must be 70½ or older at the time of gift.
- Distributions must be made directly from a traditional IRA account by your IRA administrator to the IMD Guest House Foundation (Guest House).
- Gifts must be outright, meaning they go directly to Guest House. Distributions to donor-advised funds do not qualify.
- Gifts from 401(k), 403(b), and other employer plans don’t qualify. SEP and SIMPLE IRAs qualify only if they’re inactive (no current employer contributions). If your SEP/SIMPLE is still active, ask your advisor about rolling to a traditional IRA before making a QCD.
- Contact Dionne Nicole Smith for more information: dsmith@guesthousechicago.org
What are the Benefits?
- IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040.
- The gift counts toward your required minimum distribution for the year in which you made the gift.
- You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
The gift planning information presented on this Planned Giving website of Guest House is not offered as legal or tax advice.
Donor-Advised Funds
How Does it Work?
To recommend a grant to Guest House with a gift amount and designation via your financial institution, please use the following information:
- Legal Name: IMD Guest House Foundation
- EIN: 36-4284387
- Mailing Address: Guest House, 1933 West Polk Street, SSR-214, Chicago IL 60612
Please include your full name and mailing address in the notes field when recommending a grant so we can properly thank you and ensure your gift is used for the purposes intended, including applying any intentions you note in the “special purpose” or “designation” fields.
- Contact Dionne Nicole Smith for more information: dsmith@guesthousechicago.org
What are the Benefits?
Every gift from your donor-advised fund supports medical patients, their families, and military veterans in need of affordable temporary lodging. You can give once or recommend a recurring grant to help Guest House make meaningful long-term impact in healthcare equity.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
The gift planning information presented on this Planned Giving website of Guest House is not offered as legal or tax advice.