They'll Carry Thanksgiving in Their Hearts

By John Sundquist

She was a 98-year-old longtime resident when she grabbed my hand and hugged me. "Thank you," she said, "for allowing me to continue living in my independent living apartment and with all of the friends I have made here...and that little stipend you give me each month is really appreciated." She passed away six years later still smiling and telling everyone that moving into her ABHM community was a wonderful decision.

For more than 85 years, American Baptist Homes of the Midwest has sought to provide caring communities by providing health care, housing and supportive services to seniors, disabled adults and low income adults. We endeavor to provide communities that nurture self-worth, hope and dignity for all, regardless of age, condition or income. American Baptist Homes of the Midwest's long history of caring is driven by our faith and mission.

You may be surprised to learn that last year American Baptist Homes of the Midwest provided more than $2 million in benevolence care to our residents. A majority of that was for adjustments made to offset the cost of care that Medicaid did not cover. In addition, ABHM provided subsidies and direct benevolence to ensure that all of our residents enjoy a lifestyle that nurtures self-worth, hope and dignity.

This new and growing reality is not unique to American Baptist Homes of the Midwest. A recent report from the Institute on Assets and Social Policy states that "more than one of every three seniors (36 percent) is economically insecure today."

We Can Help Residents Together
In light of these findings, the board of directors of the American Baptist Homes of the Midwest voted at their November 2011 board meeting to start the Benevolent Care Endowment Fund with seed capital of $750,000. It is their hope that, together with partners like you, we can grow this fund to a level where it will help to cover this ever-expanding need and, in doing so, ensure that our residents receive the care and services they need.

You may not know their names, but they'll carry thanksgiving in their hearts for your kindness and generosity. Together we can help ensure every ABHM resident receives the care they deserve and need.

Today I ask you to do two things: Please pray for our residents and caregivers, and please consider making a gift to the American Baptist Homes of the Midwest Benevolent Care Endowment Fund.

Your gift to these vital local ministries will change the world of those who it touches. Remember, when we help the least of these, as we care for the Children of God, we are in essence caring for Christ himself.

A charitable bequest is one or two sentences in your will or living trust that leave to American Baptist Homes of the Midwest a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

The official bequest language for American Baptist Homes of Midwest to share with your attorney is: "I, [name], of [city, state, ZIP], give, devise and bequeath to American Baptist Homes of Midwest [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to ABHM or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to ABHM as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to ABHM as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and ABHM where you agree to make a gift to ABHM and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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