Legacy Gifts

Bequest:
A bequest is made when a donor leaves assets to a charity in their will.  The estate of the donor will receive a charitable estate tax.

Gift Annuity:
When a donation of cash or other assets/securities is made in a gift annuity, the charity pays a fixed amount for life to the donor or to a recipient named by the donor.  The donor is able to claim a charitable tax deduction.  Deferred gift annuities can be set up by younger donors to supplement retirement income.

Pooled Income Fund: 
The organization receives donations from several donors into a fund and distributes the fund’s income. The name describes this planned gift well-- a charity accepts gifts from many donors into a fund and distributes the income of the fund to each donor or recipient of the donor's choosing. Each income recipient receives income in proportion to his or her share of the fund. For making a gift to a pooled fund, a donor receives a charitable income tax deduction and will not have to pay capital gains tax if the gift is of appreciated property. When an income beneficiary dies, the charity receives the donor's portion of the fund.

Charitable Remainder Trust:
This trust makes payments of either a fixed amount or a percentage of the principal of the trust to a recipient chosen by the donor.  They donor may claim a charitable income tax deduction and many not have to pay capital gains tax is the gift meets certain requirements.  At the end of the term, the charity receives the amount left in the trust.

Charitable Lead Trust:
This trust makes payments of either a fixed amount or a percentage of the principal of the trust, to charity during its term. At the end of the term, the principal can either go back to the donor or to recipients named by the donor. The donor may claim either a charitable income tax deduction or a charitable gift tax deduction depending on how the trust is organized.

Retained Life Estate:
A donor may make a gift of personal residence or land to a charity and retain the right to live there for the remainder of the donors life. The donor receives an immediate income tax deduction for the gift. Upon the donor's death, the charity can use or sell the property.