Financial Support

The annual operating budget for Malachi House is slightly less than $1 million. To help offset the many expenses incurred by Malachi House, we welcome financial support through many one-time, on-going and planned giving opportunities.

Make a donation using one of the following methods, or online right now. Please contact Julie M. Johnson, the Director of Development, at (216) 621-8831 for more information. All gifts help make a difference and are greatly appreciated.

Annual Fund Donation

Annual gifts of any size can be given once a year or once a month. Donors have the choice to designate gifts to a specific area, or simply allow funds to be used generally in an area of greatest need.

Memorial/Tribute Giving

Choose to make a gift in honor or memory of a family member or loved one. Memorial gifts are also welcomed at the time of death in lieu of flowers. Acknowledgements will be sent (with no dollar amount listed) to the person or family of whose name the gift has been made.

Planned Giving

Planned or deferred gifts to Malachi House are a one of the most important ways we have to build our endowment for our future fiscal strength, providing support for Malachi House’s many programs and services. We hope you will consider a gift to Malachi House in your estate plan. Please contact us to discuss the ways in which you might like to support Malachi House, or to request more information about any of the gifts described below. We look forward to working with you to structure a gift that benefits our organization in a way you and your family will find most meaningful.

Planned Gifts To Support the Future Of Malachi House

Bequests

A bequest is an ideal way to ensure that Malachi House can continue to offer crucial services to our city’s aging population and their families. There are three different types of bequests you might consider to benefit Malachi House:

1. You can make a specific bequest of cash or property. The decision to leave Malachi House a certain amount of money, stock, bonds, or real estate would fall into this category. 

2. You can make a residual bequest. Such a bequest would leave Malachi House the remainder of your estate (or a percentage of the remainder), after all specific gifts have been distributed.

3. You can create a contingent bequest. This type of bequest would provide for a gift to Malachi House should your designated beneficiaries not survive you.

It is not difficult to add a charitable bequest to your will. A codicil drafted by your attorney can be used to make simple changes or additions to your current will. Please be sure to consult with your own personal tax or financial advisor when forming or making changes to your estate plans. 


Life Insurance

Gifts of life insurance allow you to give a gift larger than you might believe possible. You simply secure a policy in the usual manner and name Malachi House as the beneficiary and owner of the policy. Or, name Malachi House as beneficiary and owner of an existing policy you may no longer need. In either case, your annual premium, paid to Malachi House, is tax-deductible. You may also receive a deduction for a gift of an existing policy.


Retirement Plan Assets

Retirement plan assets often represent the major portion of an individual’s estate. For many reasons, retirement assets are an excellent source to fund a charitable gift in the form of a bequest. Under current tax law, retirement plan assets can be subject to both income and estate taxes if left to heirs. Designating other assets for children or family members and using retirement plan assets for your charitable bequest may help you maximize the value of your legacy, both to your family and to Malachi House. Consult with your financial advisor to see how using retirement assets for charitable bequests may benefit you.


Other Beneficiary Designations

Some states, including Ohio, permit Payable on Death accounts at banks, building and loan associations, savings banks, and credit unions. Depositors can indicate that their accounts, including certificates of deposit, be payable on death to an individual or a charity. Stocks, mutual funds, and other securities may also be designated Transfer on Death.


Supporting Malachi House With Gifts that Pay You Back

Charitable Gift Annuities

A charitable gift annuity is a simple agreement providing that in exchange for your gift of cash or securities, you receive a fixed, guaranteed income for the rest of your life. Upon your death, or the death or an additional beneficiary if you choose, the remainder of your gift will go to benefit Malachi House.

Individuals or couples age 60 or over can establish gift annuities for a minimum amount of $5,000. In return for their gift, donors are assured income for life, an immediate tax deduction in the year of the gift (with tax-favored income each year of the annuity), and an excellent rate of return.


Charitable Remainder Trusts

Charitable remainder trusts involve the irrevocable transfer of property, usually cash or appreciated stocks, t a trust. In return, income is paid to you and on or more beneficiaries for life or fore a term of years. You can choose to receive income based either on a fixed sum each year (an annuity trust) or a percentage of the trust’s assets valued annually (a unitrust). The percentage will be set by you and cannot be less than 5%.

In addition to estate tax benefits a charitable trust established during your lifetime provides an immediate income tax charitable deduction based on the beneficiary’s age and the payout rate. At the end of the trust, the remaining assets will be added to Malachi House’s endowment or used to support a program or service you designate.


Additional Information and Confidential Gift Proposals

Malachi House’s gift annuities and charitable trusts are administered by the Community West Foundation, providing exceptional service and security for our donors. If you would like to receive a proposal illustrating how these gifts can benefit you with a lifetime income and useful tax benefits, please call our office.

Malachi House Legacy Circle

Malachi House, which opened in 1988, serves as a final home for the dying poor without cost or regard to gender, race, religion or national origin. Those who live at Malachi House have six months or less to live and, and have no one to care for them during the final stages of life. Because we accept to payment whatsoever for the services we provide, private donations are our only source of support.

We invite you to join this tradition of giving through membership in Malachi House’s Legacy Circle. The Legacy Circle is made up of individuals who have made a provision for Malachi House in their estate or financial plans.

Legacy Circle members are recognized in special ways for their deep commitment to the dying poor at Malachi House, including listing in our annual report and invitations to special events designed to bring our supporters even closer to our mission. 

If you are considering a planned gift to Malachi House, or if you have already included us in your plans, please let us know. Your willingness to be recognized will inspire others in the community to consider this important support. Of course, if you would rather remain anonymous, we will keep your name and other information completely confidential.