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Planned Giving at Haven Hills

The Planned Giving Insights within this blog are provided through the generosity of our board member, Valerie J. Bowman, CPWA®, CAP®.   Ms. Bowman is not compensated for these writings and, like all of our board, is not compensated for her service on the board. Valerie Bowman is a Certified Private Wealth Advisor® professional, a Chartered Advisor in Philanthropy®, and President and CEO of Bowman Wealth Management, LLC.

Hello Valerie – thank you for taking the time to share your insights on planned giving. Can you tell us a little about what planned giving is?

Planned giving at Haven Hills is an area of fundraising that refers to several specific gift types that can be funded with cash, equity, or **property. In brief, a planned giving request is a solicitation of major gifts for Haven Hills, often contributed by an individual donor through a will, bequest, or trust. As a planned giving donor, one recognizes that causes that they care about will continue to exist, even after their passing. Donors are giving because they want to.  Haven Hills is asking because we need to help others.  We appreciate that donors are both kind enough to give now and curious about how they can give later.

**Note: Donors should refer to the Haven Hills gift acceptance police for details of the specific types of gifts this organization is prepared to receive. Contact the Development Department at 818-887-7481 ext. 121

In addition to sending the, much appreciated, cash donations directly to Haven Hills, what are some other ways for donors to give now?

Donor can establish a donor advised fund (DAF).  A donor advised fund is an irrevocable charitable giving account that can be established at a sponsoring organization like the charitable arm of a financial services firm or a community foundation.  Once the donor deposits assets into the account, they receive an immediate tax deduction based on the type of asset, and their AGI, adjusted gross income. In most cases, the donor can direct the fund administrator to grant funds from the DAF to a specific nonprofit organization like Haven Hills.

What are some of the planned giving option for donors?

Let me mention some general categories.  The specifics of each category should be discussed with one’s financial professionals.

One of the simplest ways to make a gift is through a will or trust

  • Simply name Haven Hills as a beneficiary in a will or trust.

Donors can also designate Haven Hills as the beneficiary of the following types of assets:

  • Retirement plans, financial account, or annuities

I’ve heard that Life Insurance can be donated as well. Is this correct?

Yes, often life insurance is no longer needed to cover the expenses for which it was originally purchased.  Donors can either gift a policy to Haven Hills by naming Haven Hills as the owner and/ or designate Haven Hills as the beneficiary of the life insurance policy. The tax benefits for this type of donation are dependent on many factors and proper council should be sought.

Suppose a donor wants to give a gift of Real Estate

As part of the mission of Haven Hills is to provide shelter to victims of domestic violence, receiving real estate would certainly further that cause. However, we continue to invite donors to review the gift acceptance policy or contact Haven Hills to discuss the details of the property.   Different tax deductions are available dependent, among other things, on how the property is used by Haven Hills or if it is sold and proceeds are used to support the mission of Haven Hills. There are many details about the donation of real estate that will impact the donor’s tax deduction. This can be a great option for the donor as it may lead to potential avoidance of capital gains tax if donated to Haven Hills rather than selling the property prior to donating it. In some cases, a charitable trust which can also be utilized to sell the property. I can’t emphasize enough, the importance of speaking to a tax, legal or wealth management professional, and legal counsel to ensure that generous gifts of real estate provide the charitable impact the donor wants, the financial impact they are entitled to, and the freedom of Haven Hills to use the property without incurring any financial responsibilities.

What About Gift of One’s Home?

A donor and their attorney can establish what is called a gift of a remainder interest in a personal residence.  Basically, if you own your home you may irrevocably transfer title to Haven Hills, while retaining the right to use it during your lifetime, and continuing to pay the home’s expenses. After which time, Haven Hills will take ownership. The IRS has specific guidelines for the calculation of the tax deduction, and discourages debt-encumbered property, which may cause unwanted consequences for both the donor and Haven Hills.

Is appreciated stock something a donor could gift?

Yes, Amber.  I mentioned charitable trust earlier, which, in brief, is a legal document that crates a means to transfer assets to a charity and may be established as a charity itself. There are many different types of charitable trust, which we will discuss, in our next blog. Each has different tax advantages and serves a different purpose. But, to answer your question, yes, donors can donate appreciated securities to Haven Hills outright or through a trust. Again donors should refer to the gift acceptance policy for addition information and specific instructions on transfers through a brokerage account.

In conclusion, these potential legacy gifts will be a lasting tribute to the donor, create fond memories for their family about their generosity, and, of course, evoke eternal gratitude from Haven Hills and the victims of domestic violence.

Income tax deduction for your planned gifts are dependent on may factors including your AGI, adjusted gross income. Please consult your tax professional to determine the tax deduction and savings for your much-appreciated generosity in gifting one or more of the above-mentioned gifts.

**Including language in your will about your desire to give is a simple process.

However, the hardest part of this delayed giving is perhaps gathering all family members and sharing your desire to leave a legacy to a charitable organization, upon your passing.

Providing for the future of a charity does not have to be to the exclusion of your heirs. If you so choose, there are many ways to provide for both, the details of which will be discussed in the next blog. Regardless of how you choose to give, Haven Hills is available to help you decide which giving vehicle best suits your needs and the needs of your family.

“I can testify that it is nearly always easier to make $1,000,000 honestly than to dispose of wisely” -Julius Rosenwald-

Ms. Bowman is a resident of California by way of Chicago, a city that certainly has its share of homelessness. However, upon moving to California she was stunned by an even heightened level of homelessness that appears to be California’s new normal. According to Los Angeles City Women’s Needs Assessment, (2019) 36% of homeless women were victims of domestic violence.  Ms. Bowman has both written and spoken about homelessness. She is proud to be part of an organization that provides safety, shelter, and support to victims of domestic violence and proud to serve on the Haven Hills Board.

 The information provided is meant to be general, and educational in nature. For specifics of your situation, please consult with your tax, legal, or financial professional, to determine the impact on your estate, gift and income taxes.

Next: We strive to support the unique needs of ALL survivors we serve

Recent posts

  • Empowering Survivors: Haven Hills Workforce Program

    Domestic violence is a pervasive issue that affects countless individuals and families in Los Angeles, CA. Apart from the immediate physical and emotional trauma survivors endure, they also face the daunting challenge of rebuilding their lives after leaving an abusive relationship. One crucial aspect of this process is finding employment that empowers survivors to regain their independence and secure a brighter future.

    Haven Hills is excited to introduce our new Career Services Case Manager, Eric Cornejo Leon. Eric comes with an extensive background in helping people regain their independence. He worked as a HUD Certified Housing Counselor, as a College and Career Center Coordinator and as a College and Career Navigator. Eric is dedicated to helping our clients navigate the job market, provide resources to improve their skills, continue their education and reclaim their lives.

    Haven Hills Workforce Program is specifically designed to assist domestic violence Survivors in the pursuit of employment opportunities, economic stability, and self-sufficiency. The program addresses the unique challenges survivors face, providing them with resources, support, and skills to overcome these obstacles and thrive in the professional world.

    Creating a supportive and understanding work environment is crucial for Survivors’ successful integration back into the workforce. Our program intends to offer employers resources and training on working with DV Survivors. This education helps foster empathy, awareness, and sensitivity among employers, ensuring a smooth transition and sustained support for clients.

    Transitioning from a life of abuse to one of independence requires consistent support and mentorship. Haven Hills provides Survivors with ongoing assistance, including support groups, counseling services, and one-on-one mentoring. By offering safe space to discuss challenges, seek guidance, and celebrate achievements, survivors build a strong support network that nurtures their personal and professional growth.

    In the fight against domestic violence, Haven Hills’ Workforce Program plays a critical role in helping Survivors rebuild their lives through employment. By offering tailored job readiness programs, establishing partnerships with local organizations and businesses, providing ongoing support and mentorship, and cultivating understanding employers, we pave the way for Survivors to reclaim their independence and thrive.

  • Survivors like Edith

    Domestic violence can take any form namely psychological abuse, forced intercourse, physical aggression as well as other controlling behaviors. The negative impacts of domestic violence can have physical, mental, and emotional ramifications. In most cases, the basis of abuse lies in sociocultural norms and a normalization of violence against women.

    Intimate partner violence may lead to mental health disorders, anxiety disorders and PTSD. Moreover, the longer the duration of violence, the higher the severity of depression. Children who witness such violence may also suffer from mental health disorders in subsequent life—ranging from anxiety, aggression, depression and trauma-related symptoms. This trauma may also lead children to have academic difficulties later in life, substance abuse issues, or display high-risk sexual behavior.

    Survivors like Edith found not just shelter, but case management and counseling services to help deal with the traumatic effects of domestic violence.

    My husband abused me every day for over four years. It started when I was 21 years old and was living in Northridge with my husband, our son and infant daughter. He was controlling and manipulative, and I had suffered physical, psychological, emotional, verbal, economic, and sexual abuse. I never talked with anyone about the abuse. I was alone and did not have family here. He was my only family. It became worse when his mother started participating in the abuse. The day I decided to leave the father of my kids was the same day he hit me so hard he broke my nose, he was screaming and physically abusing me. His mother and his sister came to the apartment and took my kids. My husband stayed and continued the abuse throughout the night. He finally left in the morning. I gathered myself and called him that afternoon, begging him to bring my kids back. I went to his mother’s house to pick up my kids, his mother told me to forget my kids and she closed and locked the door. I went back to the apartment, and I stayed there by myself. After three days, I went to the police and was advised to speak with somebody and explained my domestic violence and my abuser, and his family doesn’t want to give me my kids. I was transferred to a court investigator; he gave me an emergency restraining order. It took me fifteen days to get my kids back. A case was opened against the father of my kids, and I was told that they attempted to contact him, but he never answered or came back to the apartment. I was given contact information for shelters in my area. Haven Hills was the closest shelter to my home; I called the hotline, went through intake and began the program in 2016. Haven Hills made me feel protected and not lonely anymore. The counselors were very helpful to me, and I could trust them. I took domestic violence classes, yoga classes, I attended support groups, one on one counseling, and therapy. All the programs gave me the strength to understand and accept that I was not the only one in the abuse and were vital for my healing process and I finally lost the fear three years ago. The future holds a better life for my kids and me. “

    Survivors of domestic violence experience many emotions such as fear, confusion, anger, numbness, guilt, and shame. You can cover up the visible effects of violence with makeup or clothing but getting help for abuse in a timely manner can help prevent the long-term emotional and psychological impacts of abuse.

    Haven Hills can help Survivors with resources to help with the long-term impacts of abuse and start them on a path of positive mental health and wellness. If you or someone you know is experiencing abuse, seek help. You are not alone. Haven Hills 24/7 Crisis Hotline 818-887-6589

  • Housing is an especially important concern for many Survivors.

    Leaving a domestic violence situation is not easy.  Often survivors are faced with almost insurmountable obstacles that make it difficult for them to seek safety. At Haven Hills we believe that everyone deserves to live a life free from violence and make it our mission to help survivors break down barriers that keep them in unsafe relationships. 

    Women like Claire who in April 2022 was referred to us by another domestic violence agency and began working with one of our Housing Navigators.  With the financial assistance from our Housing First program, and despite the many challenges in her path, Claire worked to reach huge milestones. 

    The first obstacle Claire had to overcome was an open child custody case with her abusive partner, for custody of her youngest son.   Costly fees to obtain legal representation were a significant barrier. Through financial assistance from the program, she has secured legal representation and continues to work towards regaining full custody of her son. Unfortunately, the Judge, in that custody case, deemed the shelter in which she was residing an unsuitable environment for her son. Therefore, it became imperative that Claire find housing, in her son’s school district, to comply with the Judge’s requirements.

    In July 2022, she obtained a place to live within her son’s school district where she could live with both of her children. The Housing First Program provided support for Claire’s security deposit and a few months of rental assistance to allow time for Claire to get back on her feet after exiting the shelter.

    Throughout that time, Claire and her Housing Navigator worked together to provide her with assistance crucial to her independence and safety. 

    • We helped earn her Basic Life Support Certification which helped her obtained new employment with better pay and hours.
    • We helped her with essential furniture assistance to help her establish her new home. 
    • We helped her with emergency food and clothing to help as she continued to stabilize.

    Much like healing trauma and abuse, finding affordable, safe housing is crucial to helping survivors reduce the possibility of future violence. That is why programs like Housing First are so important as they reduce housing instability and homelessness and ensure that survivors have increased economic opportunities.

    Claire is very thankful to the Haven Hills Team and often refers to Haven Hills as “Heaven Hills” and to the Haven Hills’ team as her “angels”.  We couldn’t be prouder of her success and the small part we played in her achievements.

    Despite the many barriers still before her, Claire continues to make steady progress towards self-sustainability and is hopeful for what is yet to come. Haven Hills will continue to provide support to ensure that Claire and her children don’t lose their housing or their financial independence. 

    Since 2018 the Housing First Program has helped survivors like Claire exit from our transitional program, crisis shelter, and outreach programs to find housing successfully, pursue their goals and improve their quality of life.

    To find out how your unrestricted gift can help us invest in critical programs like Housing First please contact our Development Department at 818-887-7481 ext. 121.