Frequently Asked Questions
Here are several of the most frequently asked questions about giving to the Foundation or the Home. Have another question not covered here? Just pick up the phone and call us, toll-free, at 888-248-2664. We welcome your questions... we're happy to help!!!!
- Q. Why should I make a gift to the Foundation/Home?
- A. For a number of reasons; two of the most important are explained below.
- Not only are you performing a Masonic duty in providing for the relief of worthy, distressed Master Masons and their families, you are assisting in maintaining a tradition of care, concern and compassion which has existed in Springfield for nearly 115 years and has served more than 10,000 adult residents and, for almost 70 years, more than 750 child residents of the Springfield campus.
That same tradition is now also an integral part of operation at our two satellite campuses:- Browning Masonic Community in Waterville;
- Western Reserve Masonic Community in Medina.
- Including charitable giving in your estate or other financial planning may provide significant tax benefits, potentially greatly reducing your tax liability to the government and still enabling you to provide for family and friends as well as your charitable interests.
- Not only are you performing a Masonic duty in providing for the relief of worthy, distressed Master Masons and their families, you are assisting in maintaining a tradition of care, concern and compassion which has existed in Springfield for nearly 115 years and has served more than 10,000 adult residents and, for almost 70 years, more than 750 child residents of the Springfield campus.
- Q. How may I make a gift to the Foundation/Home?
- A. Gifts may be made directly to the Foundation/Home at the above address in several ways. Outright gifts may be made by check or credit card (Visa or MasterCard). An outright gift of appreciated stock or other assets is also possible, potentially saving the donor capital gains taxes and possibly offering other tax advantages. As indicated above, a number of attractive charitable giving vehicles, which also offer tax advantages, are available to provide a "planned gift" at a later date. All gifts to the Foundation are tax-deductible to the extent permitted by law.
Gifts via check may also be made through the lodge Secretary. - Q. What are the "charitable giving vehicles" mentioned above?
- A. Probably the best known is the simple bequest provided in a Will which conveys a specific item, amount or percentage of an estate to the Foundation/Home.
Others include:- Charitable Gift Annuities;
- Charitable Remainder Trusts; and
- Charitable Lead Trusts.
Each of these plans offers specific tax benefits which may vary with the donor’s circumstances; several offer an income stream to the donor and/or another individual. All of these "planned gifts" should be made with the assistance of the donor’s financial and or legal advisor(s). The Foundation staff is pleased to provide additional information about any or all of these vehicles and stands ready to be of assistance in the planning of such gifts. - Q. May I restrict a gift to a particular program or purpose?
- A. Yes, you may by specifying it for the program/purpose of your choice via a notation in the memo field of the check or in an accompanying letter. The Foundation has a form available upon request to assist donors in directing their gifts to a specific destination. As indicated above, a number of programs are available for your participation or support.
Gifts may also be made with no target program or restriction; that is, available for unrestricted use wherever needed throughout the organization (such gifts should be noted for Benevolent Care).
Gifts arriving without any specific target program or restriction are directed to Benevolent Care. - Q. I'm particularly interested in making a gift to the Endowment. How do I do that?
- A. Before answering that, a brief explanation of the endowments may be helpful.
We actually have two endowments, the Masonic Endowment and the Benevolent Endowment. The Masonic Endowment is the original endowment, the one which has been in existence for many years and the one most of us have in mind when the term "endowment" is used regarding the Masonic Home.- The Masonic Endowment is the original endowment, the one which has been in existence for many years and the one most of us have in mind when the term "endowment" is used regarding the Masonic Home.
- The Benevolent Endowment was created in 1995 when the eligibility criteria for Masonically–related individuals was extended to include a Mason's parents, his parents–in–law, brothers and sisters and children as well as members of the Order of Eastern Star and Amaranth who don't otherwise qualify for admission and Masons from other Masonic jurisdictions recognized by the Grand Lodge of Free and Accepted Masons of Ohio.
Endowment gifts are, of course, restricted in that the original principal of the gift is maintained in the specified endowment; the income from and appreciation of the gift are available for use.
