Including Sisters Place in your estate planning is a meaningful way to create a lasting legacy. By leaving a gift for Sisters Place in your will, trust, or other account, you’re making Sisters Place and our mission of serving families experiencing homelessness a part of your life story. For years to come, your gift will help Sisters Place.
Anyone can make a planned gift. And, through these planned gifts you can make the greatest impact on the meaningful programs and services that Sisters Place has to offer, while achieving your legacy goals and objectives at the same time.
Ways to Give
Explore the many other ways you can ensure that Sisters Place will be able to save lives into the future.
A simple way to ensure Sisters Place can continue its lifesaving work for years to come is by making a gift in your will or living trust, known as a charitable bequest.
Bequests can be made in the form of a specific dollar amount or property. Alternatively, your whole estate or a certain percentage or residue of your estate can be left to Sisters Place.
Your planned gift also entitles your estate to an unlimited federal estate tax charitable deduction.
For your convenience, we have provided some suggested language that you could use in your will or estate. Please feel free to adapt this language with your attorney to fit your individual situation.
Specific Gift Language
I give and devise to Sisters Place, Inc., (Tax ID # 25-1728330) located in Pittsburgh, PA, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific program).
Residual Gift Language (a residual gift comes to us after all other estate expenses and bequests are paid).
I give and devise to Sisters Place, Inc., (Tax ID # 25-1728330) located in Pittsburgh, PA, all (or __ percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
A gift by beneficiary designation is one of the easiest ways to give. Simply name Sisters Place as a beneficiary to receive assets such as retirement plans, life insurance policies or any other beneficiary assets. You simply fill out a beneficiary designation form separate from your will and designate Sisters Place, Inc. as a full or partial beneficiary.
It’s not only an easy way to give, but also flexible – you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
You can name Sisters Place beneficiary of the following assets:
- Retirement Plans including IRAs and 401k’s
- Bank Accounts, Certificates of Deposit or Brokerage Accounts
- Life Insurance
- Annuities
Your financial or legal advisor can provide guidance on which assets will or will not trigger taxable income when paid to a beneficiary.
Do you want to benefit from the tax savings that result from supporting Sisters Place, but don’t want to give up assets that you’d like your family to receive? You can have it both ways with a charitable trust.
There are two types of charitable trusts you can choose from:
Charitable Remainder Trusts
A charitable remainder trust is established by transferring money or assets into a trust under which a trustee is directed to make income distributions to non-charitable beneficiaries for a period of time. At the end of the term, the remainder of the trust assets are then passed outright to Sisters Place.
Charitable Lead Trusts
A charitable lead trust is essentially the reverse of a charitable remainder trust. You can establish a trust that pays the income to Sisters Place for a term (you can choose any number of years), then the property either reverts to you, as the donor, or passes to another specified non-charitable beneficiary.
We encourage you to work with a qualified attorney or financial advisor to provide guidance with setting up a trust.
Another easy and flexible way you can support Sisters Place is by designating Sisters Place as a beneficiary of your retirement accounts or other financial accounts including brokerage accounts and CDs as well as money market, savings and checking accounts.
Many people don’t know that their retirement and other financial accounts can be a simple and practical way to not only help Sisters Place but even themselves at tax time. Through a beneficiary designation form, you can add Sisters Place as a beneficiary of 10, 20 or even 100 percent. You can also name Sisters Place as a secondary beneficiary in case someone you have named is unable to claim his or her portion.
If you are 70 ½ years old or older, you can give up to $100,000 from your IRA directly to a qualified charity like Sisters Place without having to pay income taxes on the money you donate.
This law no longer has an expiration date so you are free to make annual gifts to our organization allowing you to see the difference your donation is making today. If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
To name Sisters Place on your beneficiary designation form, please use the following information:
Sisters Place, Inc.
111 Brownsville Rd.
Pittsburgh, PA 15210
Tax ID#: 25 – 1728330
501 (c)(3) Organization
A gift of life insurance is a simple way to make a meaningful contribution to Sisters Place. There are two ways you can do this:
You may name Sisters Place as a full, partial or contingent beneficiary of any policy. (Remember many of us have employer-sponsored life insurance purchased at no cost to you.)
The second option is to donate outright a life insurance policy that is no longer needed. Sisters Place could then decide to hold or surrender the policy to receive the current cash value.
You may even choose to purchase a new life insurance policy and name Sisters Place as owner and beneficiary. This way you may receive an income tax deduction when future premiums are paid and you can create a gift capable of doing much greater good in the future.
Ask your insurance provider for more details or consult your legal or financial advisor to help you decide which option is best for you.
Making a gift of stocks or mutual funds to Sisters Place gives you the opportunity to support our work while realizing important benefits for yourself.
When you donate appreciated securities or mutual funds to Sisters Place in support of our mission, you can potentially eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
You may also donate jewelry, real estate or other valuables. Please keep in mind, however, that some of these gifts require more planning and have specific restrictions. We encourage you to speak with your financial planner before donating these items.
Thank you for your interest in planned giving opportunities with Sisters Place. Planned gifts are critical to the long-term health of our organization and are a meaningful way to invest in our bright future. If you have already designated Sisters Place as a beneficiary in your estate (or are considering it), please contact Lynette Vybiral, Senior Development Officer at 412-233-3903 or lvybiral@sistersplace.org.
Your Benefits
- It costs you nothing now to leave a gift in your will and it takes nothing more than your signature.
- You can change your mind at any time. You’re not locked into your decision.
- There’s no minimum gift. Any amount you give is gratefully welcomed and will make a difference in the life of an animal.
- You can provide for your loved ones and at the same time create your legacy with Sisters Place
- Your gift demonstrates your belief and commitment to improve the lives of families experiencing homelessness.
Our Promises
- You’ll be recognized for your generosity. Of course, you can remain anonymous if you prefer.
- Your gift will be used in the way that you intend.
- You can change your plans or your beneficiaries at any time.
- As a multi-year Four Star Rated Charity through Charity Navigator, you can be assured we meet the highest standards of financial transparency and integrity.
We want your legacy gift to do exactly what you intend it to do. Providing us with documentation is the best way to ensure that your wishes are honored. We ask that you complete a confidential Letter of Intention so that we can have a written record of your generosity. It’s a non-binding agreement, strictly for our records, so we can stay in touch with you about your intentions and interests as well as keep you up to date on our lifesaving work.
Learn More
There are many ways that you can include Sisters Place in your estate planning. For more information or sample language that can be used in your estate plans, please contact Lynette Vybiral, Senior Development Officer, at 412-233-3903 x 225 or lvybiral@sistersplace.org.
Key Information
Legal name: Sisters Place, Inc.
Tax ID Number: 25- 1728330
Incorporated in: Pittsburgh, PA
Sisters Place does not render legal or tax advice. When considering a planned gift, the services of an attorney or other professional advisor should be obtained. The purpose of this publication is to provide accurate information of a general nature only.