Why Planned Giving?
In life, most people require some kind of assistance, whether it’s physical, financial or spiritual. And during life’s struggles, we are often reminded that more must be done to continue positive, humane acts of kindness, and to sustain programs for personal enrichment. We wish more funding were available for medical research, for domestic abuse shelters, or a treasured arts or music program.
As a result, many people want to make charitable gifts but need to do so in a way that helps meet their other personal, family, or financial needs. Planned gifts give you options for making your charitable gifts in ways that may allow you to:
- Make a larger charitable gift than you thought possible
- Increase your current income
- Plan for the financial needs of a spouse or loved one
- Provide inheritances for your heirs at a reduced tax cost
- Reduce your income tax and/or avoid capital gains tax
- Diversify your investment portfolio
- Receive income from your personal residence or farm
- Plan for the transfer of your business
- Leave a charitable legacy for future generations
Charitable organizations need financial assistance from people like you to continue their work. More than 80% of Americans contribute to nonprofit groups of their choice throughout their lifetimes. But, according to research conducted in 2000, only around 8% of people chose to continue this support through a charitable bequest.
By making bequests and other "planned gifts," you can continue to help organizations that are making an important difference in your community. Can you think of a better way to thank the people or organizations that have had an impact on your life than to make a contribution from your estate through a bequest?
Gifts large and small are important. Charitable giving is not only for the wealthy!
