About Legacy Giving

Let’s learn the basics and benefits of legacy giving

What is legacy giving?

It’s a type of charitable donation that allows individuals to create their legacy fund as part of their estate-planning efforts to support organizations that are important to them, like their church or favorite nonprofit. In addition to receiving tax benefits, legacy funds allow donors to create a charitable legacy with a long-lasting impact. It’s a winning combination for both donors and their funding recipients.

Broaden your fundraising efforts

It’s important to include planned giving as a funding option for your members, even if you have a devoted donor base. That’s because most members may not have the ability to give a major gift on a regular basis. But they can include a donation as part of their estate planning. By introducing legacy giving, you’re providing your members a new opportunity to give back and extend their commitment to your organization long after they’re gone.

Extend your mission

First and foremost, legacy funds are a sign of life and hope. They demonstrate that your mission is bigger than today. They help people see and understand that the mission of your organization will continue long past their lives. They allow for new projects and missions to begin, while also making sure that buildings, budgets, and projects can be maintained.

Types of giving options

Let’s explore the types of legacy giving options available to you and your members.

Donor-Advised Funds

With this flexible option, you make an irrevocable contribution, become eligible for an immediate tax deduction, then suggest distributions to the charitable organization(s) of your choice.

Charitable Remainder Trusts

This irrevocable trust has tax benefits, provides income for the remainder of your life, and at the end of your life the remaining assets could include income for children or designate heirs as well as your favorite charitable organization(s).

CHARITABLE GIFT ANNUITIES

Gift annuities provide tax benefits as well as guaranteed income for your lifetime. At the end of your life, the remaining assets are distributed to your favorite charitable organization(s).

ENDOWMENTS

This permanent, trusteed fund option is tax deductible and allows the donor to impose restrictions on when and how the funds are spent.

Ready to learn more? Download our free Legacy Planning Opportunities Guide.

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Inspire generosity and stewardship

Supporting your mission through legacy giving is not a one-time event. It should be engrained into the heart and soul of your organization. Here’s how you can make that happen:

Create an atmosphere where generosity and stewardship are part of your culture.
Facilitate and encourage giving conversations during meetings, Sunday school, and in ongoing communications.
Highlight and celebrate examples of individual generosity across your organization.
Lead by example by establishing your own legacy giving fund.