Donor Frequently Asked Questions
FAQs What is Leave A Legacy®?
Leave A Legacy® is a national effort to inspire people from all walks of life and income levels to think beyond their lifespan when doing good works. Through increased public awareness of charitable estate giving, Leave A Legacy® encourages greater philanthropic support for the non-profit organizations supporting the communities that we share.
Why are planned gifts and endowment funds important to a charity?
Endowments provide long-term financial health to a non-profit, and planned gifts are the most common way to build an endowment.
Do individual donors become a Leave A Legacy® partner?
Typically, non-profit organizations and for-profit advisors become Leave A Legacy® partners. Individual donors work with these people to better understand a non-profit’s charitable mission, its financial needs, the merits of certain estate giving options, and to establish an appropriate gift.
What should I consider when determining how much to donate to charity?
Giving during one’s lifetime requires confidence that all other financial needs and expenses can be met. As such, people typically make charitable gifts of income, not assets. Sometimes, however, factoring assets into a giving decision can make sense. Most estate gifts allow a person to retain control over his or her assets during life – providing important financial protection. A complete financial plan can also help clarify future income and asset needs.
When should I give a “planned gift” rather than an annual contribution?
A planned gift makes sense whenever you want to support the work of a non-profit organization beyond your lifetime. Just as giving during life was a priority, an estate gift enables you to support a worthy organization beyond your years.
How should I make a planned gift?
Simple options include a beneficiary designation through an IRA or life insurance policy, a charitable bequest in your will, or a similar provision in a living trust. Such gifts can be:
- A specific dollar amount.
- A percentage.
- All or a percentage of your “residuary estate” (in a will), which is the amount remaining after payment of specific bequests, taxes, expenses, and debts.
- A contingent bequest/beneficiary designation, which supports a charity if your primary heirs do not survive you.
Additional options exist for those facing more complex estate planning issues.
Who should I give to?
Organizations that you know and trust are the best candidates for your support. In addition, you may have ideas about specific causes you would like to support, and want to research effective organizations in these areas. Local community foundations also provide important perspectives about community needs.
Click here to view our Partnership Agreement (74k PDF file)