Gift of Life Insurance
For more information, please call our Resource Development Department at 303.285.5227.
Life Insurance can be a convenient way to make a substantial gift to the Coalition for a modest annual cost. You can use a paid-up policy you no longer need, or purchase a new policy to make your gift. We encourage you to consult your attorney or tax advisor to learn about the various tax benefits and restrictions that may apply to your specific situation.
• The Colorado Coalition for the Homeless as Beneficiary
You can name the Coalition as the beneficiary of a life insurance policy while retaining ownership of the policy and access to the cash value. However, because you retain ownership and can change the beneficiary, no income tax charitable deduction is allowed for the value of the policy.
• Survivorship Life Insurance
Two people are covered under this form of insurance. When the second insured person dies, the policy's benefits can be payable directly to the Coalition. This form of life insurance is less expensive than others, enabling you to make a larger charitable gift than you might otherwise consider.
• The Colorado Coalition for the Homeless as Owner
For immediate tax benefits, you can assign an insurance policy to the Coalition. This allows you to take a federal income-tax charitable deduction for the policy's fair-market value or the net premiums paid, whichever is less. Also allowed are income tax deductions for contributions that enable the Coalition to pay subsequent premiums.