Planned Giving
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Planned Giving
Your Gift That Continues Giving…..
For many people, philanthropic giving is a lifelong commitment that provides both personal satisfaction and financial benefits. The United Way of Portage County is grateful for your gifts to the annual campaign over the years. Now, through the United Way of Portage County’s Planned Giving Program, you can provide a different kind of gift, above and beyond your annual gift, benefiting you and your family, while ensuring vital human care programs are available for generations to come.
What Is Planned Giving?
A charitable planned gift is the result of a careful thoughtful structuring of one’s estate to benefit a charitable organization. Such a gift is commonly asset-based rather than from current income and often involves a planning process utilizing the services of legal and financial professionals; e.i. estate and tax planning attorneys, accountants and investment advisors. Planned gifts are usually irrevocable, although some can be set up as revocable, and afford the donor important tax benefits explained by your accountant that help you to meet your financial goals. You have the right to choose how your dollars are spent through the designating your funds. Your planned gift helps to fund the United Way during and after your lifetime.
Ways to Make a Planned Gift
- Bequests: A bequest is the easiest and most common way of leaving a gift to charity. It is made through your Last Will and Testament as an outright gift of a certain amount, a residuary gift after all other gifts have been made, or a contingency or restricted gift to be used only for a particular intent. The United Way of Portage County would receive, upon the donors’ death, whatever amount the donor designated. By many, this is called the “ultimate gift.”
- Charitable Trusts: The United Way of Portage County can be named as the ultimate beneficiary of a charitable remainder trust or the income beneficiary of a charitable lead trust. Both are highly effective and more complicated estate planning tools that can benefit donors now or later.
- Life Insurance: The United Way of Portage County can be named as the beneficiary of a new or existing life insurance policy. If the United Way is named as the owner of the policy, all of the donor’s premium payments are charitable deductions.
- Retirement Plans: Significant tax benefits can be gained by naming the United Way of Portage County as the residual beneficiary of retirement plan assets. This option allows donors to defer a gift until the end of his or her lifetime, reduce the size of the estate and meet charitable objectives.
- Appreciated Property: Gifts of securities and real property may provide important tax advantages. Their full fair market value is deductible as a charitable contribution, with certain limitations. Donors can make restrictions according to their intent.
How to Make Your Decision
When considering a planned gift, be sure to discuss the options with your tax accountant or financial planner. Different options in giving provide a variety of tax advantages. We ask that you please let the United Way of Portage County know that you have made a decision to provide this type of gift. Click here for a letter of intent for you to fill out and return to the United Way address provided. It is not required but simply allows us to thank you for your generosity and include you in our Evergreen Society. It is the only form of documentation that we request.
The United Way Evergreen Society
Donors who have chosen to include United Way of Portage County in their wills or other estate plans are honored and recognized as founding members of the Evergreen Society. United Way of Portage County’s Evergreen Society honors people who are allowing their caring to continue, through a planned giving donation. Simply let us know if you have remembered United Way of Portage County for the future and your name will be added to the list of others who have provided planed gifts and will be included in future organizational publications and materials. However, if it is your desire to remain anonymous, we will certainly honor your wish.
For more information on United Way of Portage County’s planned giving program, contact:
Steve Kleiber
President & CEO
330.297.1424 ext. 112
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