Planned Giving with Safe Crossings Foundation
Planned giving to Safe Crossings Foundation (SCF) is a wonderful way to help sustain the work of the foundation and ensure that grieving children in our community continue to have access to the support services they need. A gift to SCF creates a legacy for generations of grieving children and families who will benefit greatly from the support services we fund.
What is a “planned gift”?
A planned gift is one that is arranged now and fulfilled later, usually after the death of the donor. For example, a donor might make a provision in his or her will to make a bequest to SCF at the time of his or her death. There are many simple ways to make a planned gift, described briefly below.
Planned gifts not only benefit SCF, but they can also greatly benefit you through tax savings. Depending on the option that you choose, you may also receive cash payments that can supplement retirement income or provide support for family members and friends.
Planned giving options include:
- Retirement plan gifts
- Life insurance gifts
- Charitable gift annuities
- Other arrangements
When considering joining The Hope Society through planned giving, begin by asking how you’d like SCF to benefit as well as how you’d like to benefit yourself. Once the purpose of the gift has been determined, then the practical aspects such as assets to be used, financial benefits to be secured, and documentation of the gift’s purposes can be worked out. While a planned gift can often be relatively simple to arrange, you should always seek the advice and guidance of your attorney, accountant, or other appropriate advisor. SCF would be happy to discuss the various giving options with you and your advisors.
The Hope Society honors the generous donors who make deferred gifts to SCF. If you have already arranged a deferred gift, please let us know. It would be our great pleasure to welcome you as our newest member!
Please note: Safe Crossings Foundation, its employees and representatives, do not provide financial or legal advice. This information is provided for your own gift planning discussions only. Sample language below is intended to provide general information about different types of planned gifts. SCF strongly urges prospective donors to consult attorneys or professional advisors before finalizing any planned giving decisions.
Ways To Give
There are several different ways to make a planned gift to SCF. We will be very happy to work with you and your advisors to determine which of them may be right for you.
- A bequest is the most simple and popular type of planned gift, and is a meaningful way to provide for the future of SCF. A bequest is a gift made through your estate, either directed by your will, or through a trust distribution. A bequest may be a specific dollar amount, a particular asset, or a percentage of your estate.
- An example of language to include in your will that could create a bequest might be as simple as:
“I give to Safe Crossings Foundation, a public charitable foundation with federal tax exempt status under I.R.C. 501(c)(3), federal tax ID #75-2992774, located in Seattle, WA the sum of $_____________ for its general purposes.”
- You may want to consider a residuary bequest, which is a gift of any remaining assets in your estate after all other bequests directed by the will have been paid. Language creating a residuary bequest often reads like the following:
“All the rest, residue, and remainder of my estate, both real and personal, I give to Safe Crossings Foundation, a public charitable foundation with federal tax exempt status under I.R.C. 501(c)(3), federal tax ID #75-2992774, located in Seattle, WA, for its general purposes.”
Retirement Plan Gifts
You can designate SCF as the beneficiary of your IRA or other retirement assets such as 401(k) and 403(b) plans and SCF will receive the funds upon your passing. You can leave just a portion to SCF or the entire balance. Alternatively, you can make outright gifts during your lifetime from these same assets that SCF can use immediately.
Life Insurance Gifts
You might have a paid-up life insurance policy that you no longer need. You can make a gift by transferring the policy outright to SCF or naming SCF as a beneficiary, similar to what you are able to do with retirement assets. Or you might think about taking out a new policy benefiting SCF and receive tax benefits with each premium paid.
Charitable Gift Annuities
You make a gift to SCF and in exchange receive payments for life for you and/or a loved one. Not only is a gift annuity easy to arrange, but your payments are fixed in amount, taxed favorably for many years, and backed by the assets of SCF. You also receive a deduction for part of the value of your contribution.
Additional options are charitable bargain sales, retained life estates in residences and farms, and outright gifts of certain relatively illiquid assets, such as real estate and interests in closely-held businesses. All of these feature current income tax deductions and can help simplify estate and financial matters.
Thank you for thinking of an estate gift to SCF. We look forward to working with you to find the best gift for your circumstances and to welcome you as the newest member of The Hope Society.
For more information about planned giving and becoming a member of The Hope Society, please contact our Development Director at 206.652.4723 or firstname.lastname@example.org.