What is planned giving?
Planned giving allows individuals to make large, meaningful gifts to non-profit or charitable organizations that reflect their values and beliefs, while leaving a unique legacy to memorialize those values and beliefs by supporting those organizations during their lifetime and beyond.
- Planned gifts can create income.
- They can be revocable to meet changing circumstances.
- They can be combined with outright charitable gifts.
- They can offer an immediate charitable deduction.
- They can create a philanthropic impact, above and beyond, what individuals often expect.
Planned gifts can take the form of cash, appreciated securities/stock, real estate, artwork, partnership interests, personal property, life insurance, and retirement plans.
In sum, individuals can create a meaningful charitable legacy while taking care of themselves and their loved ones – and can do so all without sacrificing their quality of life.
Types of planned giving
- Outright Gifts (irrevocable)
- From an individual
- From a donor advised fund
- From a private family foundation
- Charitable Lead Trusts (irrevocable)
- Bequests in Wills and/or Trusts (revocable)
- A bequest is a financial term describing the act of giving assets such as stocks, bonds, jewelry, and cash, to individuals or organizations, through the provisions of a last will and testament or trust
- Gifts through Designated Beneficiary Assets (revocable or irrevocable)
- Can be set-up as primary or contingent
- Retirement Plans (IRAs, 401ks, 403bs)
- Required Minimum Distributions
- Qualified Charitable Distributions
- Life Insurance
- Annuities
- Retained Life Interests (irrevocable)
- Gift of home or farm ground with retained life interest
- Charitable Gift Annuities (irrevocable)
- Charitable Remainder Unitrusts (irrevocable)
- Charitable Remainder Annuity Trusts (irrevocable)
Who should be involved?
- Estate Attorney
- CPA/Accountant
- Financial Advisor
- Planned Giving Officer with the Non-Profit Organization (if any)
What language should be used?
I hereby give and bequeath to THE JULIAN CENTER, Indianapolis, Indiana, all (or _%) of the residue of my property and estate, to be directed to THE JULIAN CENTER’S general endowment fund.
Similar language could be used for any non-profit or charitable organization.
- the key is to reasonably identify the non-profit or charitable organization
- give a specific amount or percentage
- give a purpose for the gift (if any)
More information
If you’d like to learn more about making a donation to The Julian Center, visit our Donor webpage. If you would like to speak to someone about making a donation, please contact Heather Parker at hparker@juliancenter.org or 317-941-2219.
