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Give From the Top: Making a Difference One Gift at a Time

Wilma and Joseph smiling"The focus should be on Otterbein Portage Valley and not the fact that we gave a gift," Mrs. Wilma Ablett says modestly. Her husband of 57 years, the Rev. Joseph Ablett, agrees. "Wilma and I wanted to share what we could with Otterbein Portage Valley while we are able to do it and are able to see the results of the gift."

Their philosophy on living and giving is similar—share your love, treasures and laughter now. The Abletts, residents of Otterbein Portage Valley for seven years, have been doing just that all their lifetime and most recently provided a gift to Otterbein Portage Valley in the form of a gift annuity. Joe and Wilma are passionate about helping others, and making a gift to Portage Valley is just one example of their faith and commitment in service.

Joe says, "We wanted to give from the top versus giving from the bottom as there may not be anything left over to give when we are gone. There are so many wonderful things going on in the community and still more to be accomplished." Wilma nods and adds, "We are so blessed. We have always tithed and we wanted to help others."

Their gift benefits the residents of Otterbein Portage Valley who may need assistance through the Benevolent Care Fund. Those who receive benevolent care funds remain anonymous and all residents enjoy the comfort of knowing that one never has to leave an Otterbein Senior Lifestyle Choices community even if there is a financial crisis.

The Abletts decided to move to Otterbein Portage Valley because of the care and campus setting. Joe comments, "We can ride our bikes and cross-country ski on campus."

Serving and assisting others is not new to the Abletts. Wilma chairs the Resident Council Hospitality Committee and is active in all aspects of resident activities. Since graduating from college, Wilma has spent many years sharing with others her love of quilting, painting and sewing while raising four children. She was recognized for her paintings at a recent Association of Ohio Philanthropic Homes Association (AOPHA) exhibit.

Joe is involved in coordinating trips for residents, and has served as president of the Portage Valley Resident Council. He continues to minister and serve others even though he retired after serving 50 years at various churches in Michigan. During World War II, Joe served his country as an orderly in a Columbus mental institution and was instrumental in the movement to change how care is provided for the mentally ill.

The Abletts continue serving others and their gift annuity is just another demonstration of that love. While a gift annuity does produce payments for them, Wilma and Joe mention that giving the gift is most satisfying knowing it will assist others in the community.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Otterbein Senior Lifestyle Choices a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Otterbein Senior Lifestyle Choices, a nonprofit corporation currently located at Lebanon, OH, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Otterbein or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Otterbein where you agree to make a gift to Otterbein and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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