Increase Your Income While Giving

A property burden became monthly income relief for Colette

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Colette with her son

Andre

Noah Homes Resident

The burdens of ownership and maintenance of an apartment building were beginning to outweigh the benefits, and Colette Gerard considered selling. At first, it seemed that her profit from the sale would be reduced by approximately $600,000 in taxes and the remaining sale proceeds would yield a monthly income that was quite a bit less than the current rental income.

Faced with this dilemma, Colette looked to Noah Homes and was introduced to a Charitable Remainder Annuity Trust (CRAT), established in conjunction with Noah Homes, that would provide her with substantial benefits. When a CRAT is established, the creator can sell appreciated assets without paying a capital gains tax, receive a charitable tax deduction, and generate income.

Now her monthly income from the funds invested is approximately 20% higher than her prior rental income and she is blessing people through Noah Homes at the same time!

Saving for tomorrow while giving today

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A married couple had a larger than normal income for the current year due to an IRA withdrawal, which created an excessive tax liability. Due to the large tax bill, they considered selling stock, but the capital gain would create an additional tax. They had also hoped to use the stock to generate income for their retirement years.

By transferring the stock to a Charitable Remainder Trust (CRT) established for the benefit of Noah Homes, they avoided paying the capital gains tax, invested the entire sale proceeds within the CRT to generate income for their retirement, and received a charitable income tax deduction that was used to greatly reduce the tax liability on the original IRA withdrawal. 

She gave more than she ever thought she could

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...A woman learned about Noah Homes’ mission and began donating household items and gifts in support of the residents.

She then came for a tour and was so impressed, she wanted to make a larger gift.

Concerned about taking funds from her savings, she decided to donate $20,000 to Noah Homes as a Charitable Gift Annuity, meaning she receives a partial tax deduction and a lifetime stream of annual income from Noah Homes. Pleased with the outcome, she has since donated an additional $30,000 and continues to bless the residents.

We are planning for our resident's futures...

are you planning for yours?

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