Help change the lives of deserving students with a future gift
There are many options available to leave a legacy with a planned gift.
A planned gift is any major gift, made in lifetime or at death as part of a donor’s overall financial and/or estate planning.
The most common form of planned gift is a bequest from a Will or Trust
• Bequests may be a fixed amount (ex: $10,000), a percentage (such as 10%) or a remainder after all other specific bequests have been distributed
• Specific property such as residential real estate, may also be used in a charitable bequest
• Bequests of $25,000 or more may be used to create an endowed scholarship in your name
• Sample language to add a bequest to a Will or Trust: “I/We give and bequeath $xxx,xxx (or ___% of my/our estate) to Illuminators Educational Foundation, a California nonprofit corporation. TIN# 51-0618288”
Planned Gifts may offer significant tax advantages to you or your heirs.
Some options with tax benefits include:
• Gifting appreciated assets such as shares of stock or a business allows a donor to avoid capital gains tax when the assets are sold
• When deciding which assets to leave to heirs and which assets to leave to charity, choose to make bequests to IEF from retirement plans such as an IRA. Retirement plan gifts are taxable to heirs, but not to charities.
• Gifts from IRA’s also offer immediate tax benefits to donors over age 70½ who may gift a portion of their Required Minimum Distribution (RMD) each year up to $100,000 directly to charity completely tax free.
Some planned gifts even offer a way to increase your income while receiving a charitable deduction! For more information on Charitable Remainder Trusts, Charitable Gift Annuities or any of the options above, contact Linda Spuck, IEF Development Consultant: firstname.lastname@example.org