Legacies & Planning Giving:

The ability of the Masonic and Eastern Star Home (MESH) of North Carolina, Inc., to craft practical solutions for meeting the escalating needs of our members and their eligible relatives is due, in large part, to the generosity of our supporters.

Bequests, life income gifts, and other charitable estate-planning arrangements provide vital support for the future efforts of MESH.

In addition to sustaining MESH's mission, these special ways of giving offer several benefits to donors.

Bequests offer a flexible way to provide a charitable gift from your estate.

A Life Income Gift provides income for life while reducing your estate and income taxes, and often avoiding capital gains taxes.

By including MESH as a beneficiary of a financial, retirement, or insurance plan , you are able to pass on income you don't need during your life. Only upon your request , MESH will refer you to a qualified attorney or tax consultant.
Bequests: Gifts Through Your Will or Living Trust

One of the simplest ways to make a gift to the Masonic and Eastern Star Home (MESH) of North Carolina Inc., is through your will or living trust. Such gifts provide critical support for the future of our organization and our mission.

You can name MESH as the direct beneficiary of a stated amount of money or a stated percentage of your estate. You can also designate MESH to receive all or a portion of the remainder of the estate once all specific bequests have been satisfied. You may even designate MESH as a contingent beneficiary in the event that family members or other beneficiaries do not survive you.

Here is sample language that can be used to provide a bequest:

” I give, devise, and bequeath to the Masonic and Eastern Star Home of North Carolina, Inc., a charitable organization whose headquarters is located in Greensboro, North Carolina, (the sum of $____); (___ percent of my estate); (the following property: _______); or (the rest, residue, and remainder of my estate)."

MESH's tax identification number is 56-0529956. Please let us know when you have provided for MESH in your estate plans so that we may thank you properly.

Life Income Gifts

Charitable Remainder Unitrusts

One of the popular and flexible types of life income plans is a charitable remainder unitrust (CRUT). Cash, securities, real property, or other assets are transferred into the trust. A trustee manages the trust assets and will pay you or others you choose an income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to the Masonic Charity you have selected.

Those choosing this type of gift are people who love and care about the charity they have selected. Additionally such donors need income for the remainder of their lives, would benefit from a tax advantage, and are between the ages of 55 and 80.

A charitable unitrust provides the donor income for life and may even provide for another beneficiary and donors know and trust their trustee as well as the recipient.

Once a trust document has been tailed your needs is drafted, the assets you designate are transferred to the trustee. The assets, if necessary, are usually sold by the trustee and reinvested to match your income objectives. You receive income for your life or for a specified period of years. Upon your death and the death of any beneficiary, or at the end of the period, the remaining assets are transferred to the Masonic charity you have selected.
Charitable Lead Trusts

A charitable lead trust provides payments to MESH for your life or a predetermined number of years and, upon its termination, the trust's assets will either revert to you or a beneficiary whom you designate, such as a family member.

Charitable lead trusts are very useful as part of a plan to provide current support for MESH and ultimately transfer assets to family members with the potential for significantly reduced gift and estate taxes.

Here is an example. Suppose you establish a charitable lead trust that pays income to MESH for a designated number of years. At the end of the trust's term, the trust's assets, including any appreciation, pass tax-free to the family member(s) you designate.

Rather than taking a charitable income tax deduction for your contribution to the trust, your deduction is applied to the gift tax. The deduction can partially or even fully offset the gift tax due on the transfer of the trust's assets to your heirs.

Furthermore, you may remove from your yearly taxable income the income generated by the trust and paid to MESH. You may also remove from your taxable estate the assets you transferred to the trust.

There are several options available in establishing a charitable lead trust. You may elect to have MESH's lead interest in the trust take the form of a guaranteed annuity, which is called a charitable lead annuity trust. Or MESH's lead interest may be determined by applying a fixed percentage to the value of trust assets, as valued annually, which is called a charitable lead unitrust.

Charitable lead trusts are either grantor lead trusts if the trust assets are returned to you upon termination of the trust, or non-grantor lead trusts if you specify that the trust assets will pass on to family members or other named beneficiaries.

MESH as a Beneficiary of a Financial, Retirement, or Insurance plan

You can name MESH as a beneficiary of an Individual Retirement Account (IRA), 401(k) Plan, 403(b) Plan, Qualified Pension Plan, or Qualified Profit-Sharing Plan. Generally, the transfer of plan assets to family members at the death of the plan participant may trigger two potential federal taxes: estate tax and income tax. When a beneficiary is someone other than a spouse, the combination of these taxes could consume most of the assets intended for transfer. Since MESH is a tax-exempt organization, we do not have to pay for unpaid taxes on the income from the plan. Simply contact your plan administrator and request a beneficiary form.

Tax rules regarding retirement plans can be very complicated. It is strongly recommended that you obtain the advice of an expert on the financial and tax aspects of retirement plans before proceeding. You should contact your own attorney or tax consultant. MESH, only on your request, will refer you to a qualified attorney or tax consultant.
Life Insurance

A life insurance policy may include MESH as a beneficiary, whereby proceeds from the policy will be paid to MESH upon the death of the insured. Or, you may name MESH both owner and beneficiary of the insurance policy, in which case you may take a current tax deduction based on the "interpolated terminal reserve value of the policy" (as calculated by the insurance company).

If you make gifts to MESH in the amount of the policy's premiums, you can take a charitable income tax deduction provided MESH is not obligated to use the payments to cover the policy's premium.

Financial Accounts

You can support this charity by including MESH as a beneficiary of a bank account, brokerage account, mutual fund account, or an asset such as a certificate of deposit (CD). You can simply fill out a beneficiary designation form obtained from the institution holding your account. Again, you would receive a charitable deduction from your estate equal to the amount of the gift.

Some of the key contact information you may need in order to include MESH as a beneficiary is:

Full Name: The Masonic and Eastern Star Home of NC, Inc.

Address: 700 S. Holden Road, Greensboro, NC 27407

Tax identification number: 56-0529956 (in place of Social Security number)

Relationship: Nonprofit organization with 501(c)(3) status

Legal language: The Masonic and Eastern Star Home of NC, Inc. is a nonprofit corporation, organized and existing under the laws of the State of North Carolina with principal business address of 700 S. Holden Road, Greensboro, NC 27407.

Administrator of MESH: Telephone 888-558-6374 ext. 2992 or (336) 299-0031 ext 2992

Link from e-mail at www.meshhome.org