Giving to The Lighthouse Today … and Tomorrow

Though they have been married for more than two decades, Edith and Ken H. each discovered The Lighthouse in different – and separate – ways. For Ken, it was through his family. Both of his parents were blind, his mother through genetics and his father through an accident, as was his uncle. Ken’s uncle was a Lighthouse client and benefited greatly from our services.

Edith’s connection was a bit more roundabout. A former Chicago police officer, Edith responded to a call about a suspicious package under a mailbox. After calling the bomb squad, the package turned out to be audio recordings of books for the blind. Not knowing where to turn, she called The Lighthouse.

“I told them the records were going to be put into inventory, and that I thought they were too important to be lost in the evidence room forever, so someone should come and get them,” she says. “Someone came up that afternoon to make sure the box got to where it belonged.”

It wasn’t until many years later, however, that Edith and Ken considered The Lighthouse for their charitable giving.

“Growing up with two blind parents, I always wanted to support an organization that works with blind people,” Ken says. “The Lighthouse strikes us as an efficiently run organization that serves the blind and low-vision community.”

Having spent his career as a “stocks and bonds guy,” Ken also knew he was approaching a critical financial milestone. For those who have an Individual Retirement Account (IRA), there comes a time in your early 70s when you are required to begin drawing on those savings. Ken and Edith were already living comfortably, so they found an option that could maximize their contributions to causes they cared about.

“You can use that required distribution as a charitable gift to any qualified 501(c)(3) organization, and you don’t have to pay taxes,” Ken says. “That means they get 100% of the donation.”

For Ken and Edith, it was a way to maximize their giving while they are alive, but they have considered their legacy as well. Both Ken and Edith have named Th Lighthouse as beneficiaries in their estate plans to ensure a cause they care about will be supported after they are gone.

To learn more about giving through IRA Required Minimum Distributions or how to include The Lighthouse in your estate plans, contact Lora Nickels at (312) 997 – 3643 or lora.nickels@chicagolighthouse.org.