The Clarewood House Charitable Trust

A Mission of Faith

The Clarewood House Charitable Trust—a faith-based, non-profi t Texas corporation established in 1993—helps support the Clarewood House mission to provide comfortable, secure apartment living for senior adults. Gifts made to the Trust from individuals and organizations also help to expand the services and amenities that provide comfort and care to the residents at Clarewood House.

Ways to Give - The first step is to decide which of the many options best suits your wishes. Your financial resources are personal and confidential, so you may wish to discuss your plans with your attorney, bank or tax advisor. Since there are many ways to give, we have included a list of options typically considered by donors:

Cash/Check

A convenient option, but not always the most advantageous from a tax standpoint.

Stocks/Bonds

If the value has increased, you can give at its current market value—regardless of initial cost—and potentially bypass capital gains tax.

Real Estate

Property can be deeded to the Trust during your lifetime or upon death. If the value has increased, the capital gains tax will be bypassed. Partial-interest gifts are also possible, even with a potential cash refund to you if the property is ultimately sold.

Wills/Bequests

Bequests in your will might include a specific monetary amount, a percentage of your estate, or “all of the remainder” after other bequests have been named.

Trusts: Revocable/Irrevocable

Trusts can be established to provide lifetime income for yourself and/or loved ones, and then ultimately given to Clarewood House. Trusts can be funded with cash, stocks, bonds, real estate, or anything else of value, and can be set up to maintain income abreast of inflation and bypass probate court.

Gift Annuities

This is a simple way to provide lifetime income for you and/or your loved ones. Rates are fixed according to age, and are excellent revenue opportunities for retirement income.

Life Insurance

Clarewood House Charitable Trust can be named as the beneficiary of existing policies either wholly, or in part. This makes larger gifts possible at minimum cost. New policies naming the Trust as beneficiary may be purchased with tax deductible premiums.

CDs/Savings Accounts

It’s simple to have the Trust added to a Certificate of Deposit or savings account as co-owner, with right of survivorship. Clarewood House Charitable Trust has no claim on the money, except at one’s death, and there is latitude to change this arrangement at any time.

Retirement Funds

Clarewood House Charitable Trust can be named as the final beneficiary of IRAs, tax-sheltered annuities, or other pension and profit-sharing plans.

Designated/Undesignated Gifts

Any gift may be designated or undesignated. There are many options for funds contributed to the Trust, including:

• Unrestricted
• Resident Amenity and Chapel Fund
• Resident Assistance (helps with expenses beyond income)
• Landscaping/Grounds
• New Construction/Renovation

The Clarewood House Charitable Trust funds are invested and managed under the direction of the members of the Trust. Preservation of capital is a prime consideration, as well as income earned.

Your Lasting Contribution

A gift to the Clarewood House Charitable Trust is an investment in tomorrow. You may be assured that your gift will be utilized to secure the future of Clarewood House and continually enrich the lives of residents. In addition, only the earnings from gifts are distributed, unless the donor wishes the principal to be used.

Personal Property

Anything of value may be given to the Trust, such as automobiles, artwork, antiques, coin and stamp collections, jewelry, etc. Typically an appraisal is required for any gift valued in excess of $500. A gift not usable by Clarewood House would be sold.

Memorial Gift/Gift in Honor

Your gift may be made in memory of, or in honor of anyone or anything you wish. Appropriate acknowledgement will be made.

Tax Exemptions

Your gifts are deductible from your federal income taxes, including bequests, legacies, devices, transfers and gifts of value. They are also generally exempt from federal estate taxes and gift taxes. Please consult your tax advisor or the Executive Director at Clarewood House for more information.

For More Information

Please contact the Clarewood House Executive Director at 713.774.5821, ext. 211, for more information or assistance with arranging for a special gift. Others who can assist you include the President of the Clarewood House Board of Directors, or a member of the Trust. All inquiries are held in strictest confidence.