Planned Giving & Wills
Planned gifts offer donors a powerful way to continue their charitable work beyond their lifetimes. The Community Foundation accepts a variety of planned gifts left by generous individuals who are committed to the future of our community.
Our NEW electronic library of printable booklets is now available!
The e-Booklet Library contains information on planned giving topics from gifts in your will, to year-end planning. Documents are updated in January and July of each year, to ensure proper legal documentation has been amended, and at such time of legislative changes.
Provided by our partners at Endowment Development Services.
A bequest in a will is one of the simplest and most popular ways to leave a legacy for the benefit of your community and for future generations. Through a bequest, a donor has the opportunity to define the purpose of their giving by choosing to direct giving to an existing fund within the Community Foundation or by establishing a named fund with its own defined purpose. A new fund can be established through an estate gift. As an alternative, some donors prefer to start a fund during their lifetimes. It allows them to begin seeing the impact of their giving and serves as the named repository of their future planned gift.
Sample General Bequest Language:
I hereby give, devise, and bequeath to the Community Foundation, a partner in the Community Foundation Alliance, Inc. ___________________________(describe dollar amount, percent, fractional interest, or property).
To designate a specific endowment fund or other use, add the following:
It is my desire and instruction that this bequest to the Community Foundation be used for the following purposes: _______________ or be designated for the____________________Fund.
To include a residual bequest add:
If any one or all of the named beneficiaries do not survive me, then I hereby give the share that otherwise would be (his/hers/theirs) to the Community Foundation.
Legal name: Community Foundation Alliance, Inc.
Federal ID number: 35–1830262
Please contact the Community Foundation or the Community Foundation Alliance when you choose to name the Community Foundation as a beneficiary of a planned gift. By doing so, we can ensure that the charitable intention of your gift is fulfilled and extend an invitation to participate in our Legacy Society.
Life Income Plan
The Community Foundation can administer charitable remainder unitrusts and annuity trusts, both of which pay lifetime income to your named beneficiaries.
Remainder Annuity Trusts
Provides income for life and tax benefits. Flexible funding options are available.
Meet your legacy goals with a flexible life income gift. Various funding options are available.
Charitable Lead Trusts
Freeze the taxable value of your appreciating assets: use them to make a gift to a fund at the Community Foundation today and then pass them on to family member later
Naming the Community Foundation as a beneficiary of your retirement funds, such as an IRA, 401k or 403b, is a simple and effective way to benefit the community while avoiding significant, often unanticipated tax penalties. Your retirement plan is tax-deferred only until death. The remainders of these assets are subject to multiple taxes, if left to an individual other than your spouse. Donating retirement accounts can reduce or eliminate these taxes completely while allowing you to make a significant impact on the community.