Krysilis

WHY GIVE TO KRYSILIS?

Your gift of financial support directly impacts others' lives. The donations you provide to Krysilis help make it possible for individuals with disabilities to live in a community of their choice with the assistance they need to thrive. This supported freedom allows these valuable members of society to participate as fully as possible within the life of their communities. For example, money given to the organization makes it possible to purchase items that improve quality of life as well as providing increased vocational opportunities. When you give to Krysilis, your gift is guaranteed to make a positive impact in a person's life.  

 

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IN-KIND GIFTS

A donor may make many types of in-kind contributions to a charitable organization (e.g., gifts of services, products, supplies, equipment, air miles, art work, crafts, etc.). In-kind gifts are tax deductible as allowed by IRS rules and regulations, but IRS rules prohibit Krysilis from establishing a gift value to the donor. It is the donor’s responsibility to establish a market value for the donation of in-kind gifts.

Household Goods

Krysilis owns two retail stores that accepts items (i.e., clothing, toys, household goods, furniture, etc.) in good or better condition for resale. Donations are accepted during store hours only.

KrysKorner is located at 121 1st Ave NE in Clarion.
Hours: M-F 9 a.m. – 5 p.m.  Saturday 9 a.m. – 1 p.m.
Phone: 515-532-6493

KrysMart is located at 1305 Hwy 69 South in Forest City.
Hours: M-F 9:15 a.m. – 4:30 p.m.  Saturday 9:15 a.m. – 1 p.m.
Phone: 641-585-4100

Real Estate

Real Estate gifts may be used for organizational purposes or sold with the proceeds going to support Krysilis’services. Donating appreciated real estates such as land or a house may provide excellent tax benefits which can then be deducted at the full market value thus avoiding capital gains taxes. Please see your financial planning expert for details.

 

Krysilis has benefited from the donation in 2001 of MAJOPA, located at 905 Hwy 69 South in Forest City. The property is currently used by the Forest City service area as office space, conference facility, (available for rental) and a support service center for people supported by Krysilis.

       

Appreciated Securities

Gifts of stocks and bonds that have appreciated in value may also be donated at their full market value thus avoiding capital gains taxes and providing an income tax deduction. A gift of this type must be given directly to Krysilis to receive full tax benefits. Please see your financial planning expert for details.

Vehicles

On January 1, 2005, the tax laws changed how the donation of vehicles, boats and airplanes are valued for income tax purposes.

Donations of these types of assets must comply with IRS Publication 526 Charitable Contributions tax rules. Upon the donation of the asset, a receipt will be issued with the date, description and condition of the item. No value will be given on the original receipt. For donations of assets valued at over $500, the normal process (unless the item can be utilized by Krysilis) would be for Krysilis to sell the asset within 30 days (or as soon as possible) and report the gross proceeds for the sale on Form 1098-C to the donor. Only at that time is the process complete.

Krysilis welcomes gifts of these types. If you choose to donate an asset worth $500 or less, you may deduct up to the “Blue Book” value. If you have a vehicle to donate to Krysilis and you believe it is worth more than $500, please give the Development Office a call at 641-585-5450.

Ann Sitton (pictured above with Forest City Area Administrator Sonney Hickman) donated her 1996 Dodge Grand Caravan to Krysilis. Rather than using the vehicle as a trade-in, the Sittons inquired about local non-profit organizations that could benefit from the donation. Lichtsinn Motors of Forest City then helped the couple contact Krysilis, who have incorporated the use of the Caravan in its Forest City vocational programs

 

 

HONORARIUM OR MEMORIAL GIFTS

Donations can be made to Krysilis in honor of or in memory of a family member, friend, or co-worker. An acknowledgment can be sent to the person honored or the family of the person memorialized at the donor’s request. Your contribution is fully tax deductible as permitted by state and federal laws.

 

 

ANNUAL APPEAL

Krysilis conducts an annual appeal in November or December. The purpose of the program is to solicit cash gifts for general or specific organizational capital projects. At the time of the appeal (six months into the fiscal year), numerous capital items have been identified as critical needs with no or little funding available for the item(s) in the current fiscal year or foreseeable future. Gifts received through the appeal may be designated for these specific purchases.

 

PLANNED GIVING

This term encompasses numerous methods for donors to give gifts to a non-profit organization like Krysilis, usually upon a person's death. This type of giving (examples below) may also be referred to as deferred giving.

Bequest in Will

One of the simplest methods of deferred giving, this requires a statement in your will bequeathing (to Krysilis) a dollar amount or percentage or share of the residue amount.

Revocable Living Trust

This involves naming Krysilis as the beneficiary of assets in a living trust. You maintain control of the trust throughout your lifetime.             

Life Insurance

You may choose to make a large gift with little cost to yourself by contributing a life insurance policy you no longer need. This option offers advantages of income tax deductions and possible future deductions through gifts that pay the policy premiums.

Retirement Assets

Krysilis can be named the beneficiary of the remainder or a percentage of your retirement assets. You may choose to make the gift from the most highly taxed assets, leaving more for your family. Examples would be IRA, 401(k) or 403(b) retirement accounts.

Real Estate

Perhaps you will choose to make a gift of an asset no longer needed and generate an income tax deduction in the process. You may donate your property to Krysilis or sell it to Krysilis at a bargain price.

Retained Life Estate

You may give your personal residence, vacation home or farm to Krysilis now but continue to live in the property, having use of the residence for your lifetime. This allows you to obtain an immediate charitable income tax deduction.

Charitable Remainder Unitrust

It is possible for you to create a trust that pays a fixed percentage of the trust’s assets that are revalued annually. This gives you a hedge against inflation over the long term and supplements your retirement income.

Charitable Remainder Annuity Trust

You may create a charitable trust that pays you a set income annually. This gives you a fixed income that supplements your retirement funds.

Charitable Gift Annuity

You may enter a charitable gift annuity contract with Krysilis that pays a set amount for the life of one or two people. This gives you supplemental income with steady payments that are partially tax-free.

Charitable Lead Trust

By creating a charitable trust that pays fixed or variable income to use for a specific number of years, you can retain the principal for the heirs of the estate. This option reduces gift and estate taxes on assets you give to your children or grandchildren.