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Planned Gifts

When you study the financial advantages, you may decide that you can't afford not to be philanthropic. Including philanthropy in your estate plan can pay off in reduced income and estate taxes for you or your heirs.

 

The Foundation provides a number of options for you to make a Planned Gift and support your favorite charities far beyond your lifetime.

 

Types of Planned Gifts

 

Gifts by Will

You may remember the Foundation in your will either by a specific dollar amount or percentage, or as the residual beneficiary of your estate. A bequest can be an enduring memorial to the charities and causes you care about most. For complete information about the types of bequests accepted, see Chapter 12 of the Charitable Giving Guide.


IRAs and Other Retirement Plan Assets

 

You may name the Foundation (or a Gift Fund) as the designated beneficiary of your retirement account assets upon either your death or the death of your beneficiaries and support your favorite charities while achieving significant tax advantages for your heirs. You may name your children or other family members as Successor Advisors to your Gift Fund.

 

The types of retirement plan assets accepted by the Foundation include:

  • 401(k) Plans
  • 403(b) Plans
  • IRAs
  • Roth IRAs
  • Keogh Plans
  • SEP Accounts

Charitable Remainder Trusts (CRT)

You irrevocably transfer cash, securities or other property to a Trustee (the Foundation), who manages and invests those assets and makes payments to you or other named individuals for their lifetimes or for a period not to exceed 20 years. On the death of the beneficiary (or surviving beneficiary if more than one), the assets of the Trust are distributed to the Foundation or other named charitable beneficiaries.

 

A variety of CRTs ensures you and your family income and considerable tax advantages while meeting your philanthropic goals.

 

For more information on Charitable Trusts, see Chapter 12 in the Charitable Giving Guide.

 

Life Insurance

You make a gift of life insurance to the Foundation either by irrevocably designating the Foundation as the owner and beneficiary of the policy or by designating the Foundation as a beneficiary of all or a portion of the proceeds of a policy. This allows you to make a contribution as well as receive a tax deduction.

 

After the beneficiaries' death(s), the charitable portion of the Annuity will be used to supplement the Foundation's Operating or Community Initiative Funds.

 

Gift of Remainder in a Personal Residence or Farm

You may gain income and estate tax benefits by contributing a personal residence or farm to the Foundation and retaining the right to occupy the property during your lifetime. The Foundation will own the entire interest in the property upon your death. The Foundation normally will not accept life estate agreements where the property is mortgaged. If Foundation staff recommends an exception, then bargain sale rules apply to the transaction.

 

Example

Mr. and Mrs. Jones, both 68 years old, have established a Charitable Remainder Unitrust with $500,000 in securities. The original cost of the stock was $50,000.

 

The couple:

  • Makes a generous gift to charities of their choice.
  • Saves $90,000 in capital gains tax.
  • Retains an annual payment of 8% versus the 2% dividend received from the issuer of the stock.
  • Takes a $126,785 charitable deduction in the year of the gift, saving $50,207 in income taxes.
  • Receives $744,518 in after-tax income over a 22-year period.

Gift Fund Advisors

Investment Information

 

For complete information on Planned Gift Policies, refer to the Charitable Giving Guide.