GIVING: Ways to Give What is an Endowment Fund?	GIVING Ways To Give Now You may choose to give to an existing endowment fund or create a new one. Gifts of all amounts are welcomed. Legacy Foundation offers a variety of tools and gift vehicles for those who wish to provide for the future of Lake County and to create a lasting legacy. The most widely used include: Cash Gifts You may make a contribution of any size to any existing fund by writing a check to Legacy Foundation. Whether in honor of or in memory of a friend or loved one, or to meet personal charitable wishes, cash gifts help the Foundation grow and expand its support of the community. Or, you may make a gift to an agency endowment to support a charitable organization close to your heart. The choice is yours. Publicly Traded Securities Contributions of securities are attractive to people who have held stocks or bonds for a long period of time. Gifts of appreciated securities enable you to make larger contributions to the Foundation at reduced cost to you, thereby benefiting you, the Foundation and your community. Such gifts generate a double tax benefit. In addition to receiving an income-tax charitable deduction for the full fair-market value of the property, the donor escapes any potential tax on the capital-gain element in the gifted property. (Note: to qualify for this double tax benefit, the property must have been held for more than one year.) Real Estate and Property If held for more than a year, these gifts usually provide the same tax benefits as gifts of securities. Gift Annuities During their lifetimes, donors receive income from their gifts. Cash or appreciated securities are given to the Foundation and the donor receives income for life. In addition to an immediate tax deduction, a portion of the income received is tax-free. After death, the remaining portion of the gift becomes a permanent fund within the Foundation. Donors may offer direction about types of charitable programs or a particular charity the funds will support. Bequests A testamentary gift is a specific bequest in your will or testamentary trust. After providing for your loved ones, such a gift may be for a specific amount or a percentage of an estate’s value and are exempt from estate tax. (See a sample bequest document) Charitable Remainder Trusts These trusts are arrangements between a donor, a trustee and the Foundation. The donor transfers cash, property or highly appreciated securities to the trust and can take an immediate income tax deduction. The donor retains the right to its income or specifies who is to receive the income and at what rate. After the death of the last income beneficiary, the Foundation receives the remaining assets to meet the donor’s wishes by supporting their charity of choice. Life Insurance You may have owned a policy for years, but now the protection is no longer needed. You may donate the policy to the Foundation and receive an immediate tax deduction, usually an amount equal to the cash surrender value. Or you may name the Foundation as the owner and beneficiary of a life insurance policy in which the face value ultimately goes to the Foundation. Your continued premium payments on the policy are also tax-deductible. Retirement Plan Assets These assets may be a particularly effective way to fund a charitable bequest. Depending on the size of your estate, income and estate taxes may consume a large portion of this asset. Naming Legacy Foundation, Inc. or a Charitable Remainder Trust as the beneficiary for all or some of the assets remaining in your plan at your death can substantially reduce or eliminate your tax liability. Private Foundation Transfers By transferring a private foundation to Legacy Foundation, you can preserve the identity and purposes of the original donor and family members while Legacy Foundation assumes administrative responsibilities, tax reporting and annual audits. The Legacy Society The Legacy Society recognizes those who have included Legacy Foundation in their estate plans. This may include a bequest, a charitable remainder trust, a gift annuity, a retirement plan, a life insurance policy or any other form of planned gift. Please let us know if your name should be included on this list or if our staff can provide more information for you with no obligation.
		1000 E. 80th Place, Suite 302 South, Merrillville, IN 46410 | Phone: 219-736-1880 Legacy Foundation is designated a 501(c)3 not-for-profit organization. All contributions are tax deductible to the fullest extent of the law. © Legacy Foundation and its licensors. All rights reserved.