Planned Giving

If you feel strongly about a cause or an organization that has touched your life or the lives of loved ones, you may wish to consider making a planned gift. You can help shape our community’s future, create a legacy and set an example that inspires others to give.

For as many motivations as there are to give, there are ways of planned giving.

With thoughtful consideration and guidance that include your charitable priorities, financial goals, and personal preferences, you can accomplish your charitable goals. Information on this page will help you explore the opportunities of planned giving and find the best fit for you.

Please feel free to contact the foundation with questions and assistance or to request an e-booklet on this topic.

Here are the most frequently used methods of planned giving. All of these can be set up through the Community Foundation to benefit a charitable cause for years to come.

WILLS & BEQUESTS

WILLS & BEQUESTS

A gift of a bequest is made through a will or living trust. It is easy to establish and revocable. As the donor, you retain lifetime use and control of the property intended as a bequest. Sample bequest language can be found here.

RETIREMENT AND PERSONAL PLANNING

RETIREMENT AND PERSONAL PLANNING

Retirement assets make excellent charitable gifts because they are so highly taxed when left to individuals. It typically takes a simple form from your account provider to add the Foundation as a beneficiary. This may have estate planning benefits, because income in respect of a decedent is taxable to heirs but not to charities.

GIFT ANNUITIES

GIFT ANNUITIES

A charitable gift annuity (CGA) is a contract between a charity and a donor. In return for a donation of cash or other assets, the charity agrees to pay the donor and/or someone designated by donor a fixed payment for life. The donor can claim an immediate charitable tax deduction for the transfer amount above the value of the annuity purchase. Donors may choose to establish a deferred charitable gift annuity and defer receiving income from the gift annuity for a period of years.

LIFE INSURANCE

LIFE INSURANCE

You may give a gift of a life insurance policy, designate the Community Foundation as beneficiary of the policy, or use a policy as a wealth replacement tool in tandem with a CRAT or CRUT (Charitable Remainder Trust). You can also earn a possible income tax charitable deduction for the donated policy.

CHARITABLE REMAINDER TRUSTS

CHARITABLE REMAINDER TRUSTS

As a donor, you may transfer assets to a charitable remainder trust that provides a specified distribution percentage to one or more (income) beneficiaries for life, or a term of years, with the remainder interest paid to charity. These types of trusts can be established through the assistance of an attorney and/or trust department at a financial institution.

Leave a Legacy

For more detailed information, call for an appointment or send us an email. Do you want detailed information on a specific type of planned gift? We will send you an e-booklet with information on the particular topic.

Sample Languange

FORMS OF BEQUEST

These examples are types of simple language that may be used in your will to make a bequest to The Community Foundation of Pulaski County, Inc. The following samples are intended only as examples and must be tailored by your attorney to meet your specific needs and desires. You and/or your attorney are encouraged to speak with The Community Foundation of Pulaski County to discuss how to design your gift, establish your legacy, and shape our community’s future. The Community Foundation of Pulaski County, Inc.’s Federal tax identification number (FEIN) is 35-2127564.

  • UNDESIGNATED BEQUEST: I give to The Community Foundation of Pulaski County, Inc., a non-profit corporation located in Winamac, Indiana, ____________ (fill in a percentage of your estate, a certain sum of dollars or a description of particular property), to be used as its Board of Directors determines to be its area of greatest need.
  • DESIGNATED BEQUEST (for a specific purpose): I give to The Community Foundation of Pulaski County, Inc., a non-profit corporation located in Winamac, Indiana, ____________ (fill in a percentage of your estate or a certain sum of dollars – minimum amount to endow a designated fund is $10,000.). I further direct that it shall be used for ________________________________ (fill in specific use) as set forth by a Gift Agreement executed between me and The Community Foundation of Pulaski County, Inc. and which is incorporated by reference into this document
  • DESIGNATED BEQUEST (for scholarship endowment): I give to The Community Foundation of Pulaski County, Inc., a non-profit corporation located in Winamac, Indiana, ____________ (fill in a percentage of your estate or a certain sum of dollars – minimum amount to endow a scholarship is $30,000). I further direct that it shall be placed in The Community Foundation of Pulaski County, Inc.’s endowment to be used for scholarship aid pursuant to The (Name) Endowed Scholarship as set forth by a Gift Agreement executed between me and The Community Foundation of Pulaski County, Inc. and which is incorporated by reference into this document.
  • RESIDUAL BEQUEST: All the rest, residue and remainder of my estate, both real and personal, wherever located, I give to The Community Foundation of Pulaski County, Inc., a non-profit corporation located in Winamac, Indiana.

 

The Legacy Society

The Legacy Society acknowledges individuals who have demonstrated commitment to their community by including the Community Foundation in their estate planning.

There are several ways to join The Legacy Society through “planned giving,” including bequests, IRA designations, charitable trusts, charitable gift annuities, and gifts of life insurance. Donors can positively impact their favorite charities and often enjoy significant tax and financial benefits.

Charter members of the Community Foundation of Pulaski County Legacy Society:

  • Richard Conn*
  • Don and Delores* Galbreath
  • Kenneth and *Phyllis Gardner
  • Joe and Cynthia Garnett
  • K. Stuart Gast*
  • Rachel Thompson Gast*
  • Agnes Hartman*
  • Charlotte Schnapf*
  • Emil Smolek*
  • Leeann Wright
  • Anonymous

*deceased

Contact the Community Foundation to explore the benefits of planned giving. There is no minimum gift requirement, and donors may choose to remain anonymous. If you have included the Community Foundation in your estate plans, please let us know!

To become a member, complete and return the Legacy Society Membership Form.

View or print our Legacy Society brochure.