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Planned Giving
Cedar River and Bridge
MAKING A GIFT THROUGH YOUR ESTATE
The Renton Community Foundation is here for the long-term and relies on donors who share our dream for a grand future for the greater Renton area. Fortunately, there are almost as many ways a donor can give as there are needs to be met. In this section, we will outline a variety of ways you can benefit your community while taking into consideration your own personal life situation and that of your heirs. Making a planned gift also offers the donor the opportunity to be recognized by joining a select group of people who belong to the Community Leadership Society. |
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HOW TO MAKE A PLANNED GIFT
Planned gifts are made as part of a donor’s overall estate planning and typically utilize the skills of the donor’s own legal and/or tax advisors. Planned gifts take into consideration the benefit to the charity as well as the financial implications to the donor and the donor’s family and can include cash, publicly traded securities, real estate, other personal property, or life insurance. This type of thoughtful giving can be accomplished through a variety of charitable gift vehicles, including those that offer an income stream to the donor. |
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TOOLS FOR GIFT PLANNING
MAKING A GIFT THROUGH YOUR WILL
Making a gift through your will is a popular and simple way to support your community. While you support the organizations and causes that mean the most to you, a gift through your will offers significant tax advantages to your estate.
Donors may focus their gift toward general areas of interest, or for the specific benefit of a named charity. The purpose and distribution of the bequest may be defined in a Donor Advised Fund, named gift, permanent endowment, or other fund type. In addition, many advisors are focusing on making a bequest with all or part of a donor's retirement plan assets, which can be a very tax-effective technique.
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RECOMMENDED BEQUEST LANGUAGE
The Renton Community Foundation provides the following recommended bequest language to help you and your legal advisor make your charitable gift to benefit the greater Renton area through the Renton Community Foundation.
Specific Bequest:
“I give to the Renton Community Foundation, (the sum of $_____) OR (all my right, title and interest in the following described property _________________). This gift is to be added to, or to begin, the _________________________ Fund.” (You may also replace the prior sentence with the following.) “This gift is to be used in such a manner as the Board of Directors of the Renton Community Foundation shall, in its sole discretion, determine.”
Percentage Bequest:
“I gift to the Renton Community Foundation, an amount equal to _____% (_____ percent) of the total value of the assets in my estate whatever the amount shall be at the time of my death. This gift is to be added to, or to begin, the _______________ Fund.” (You may also replace the prior sentence with the following.) “This gift is to be used in such a manner as the Board of Directors of the Renton Community Foundation shall, in its sole discretion, determine.”
Remainder Bequest:
“I give to the Renton Community Foundation, all the residue and remainder of my estate. This gift is to be added to, or to begin, the ______________________ Fund.” (You may also replace the prior sentence with the following.) “This gift is to be used in such a manner as the Board of Directors of the Renton Community Foundation shall, in its sole discretion, determine.”
Contingent Bequest
“In the event that ____________________________(name of wife, son, brother, sibling, etc.) shall not survive me, then I give the same to the Renton Community Foundation. This gift is to be added to, or to begin, the _______________________ Fund.” (You may also replace the prior sentence with the following.) “This gift is to be used in such a manner as the Board of Directors of the Renton Community Foundation shall, in its sole discretion, determine.”
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Establishing a Named Fund through Your Will
MAKING A GIFT THROUGH YOUR WILL
If you wish to establish a named fund (minimum $10,000 gift) through your will to address particular charitable needs, we recommend you complete a New Fund Form to illustrate your preferences for this future fund. You may establish an Area of Interest Fund if you have a passion for a particular cause, such as the arts, education, or the environment. Or, you may wish to narrow your gift by creating a Designated Fund for the specific benefit of a single cause or qualified not-for-profit agency. In this case, if the beneficiary organization ceases to exist or loses its tax-exempt status for any reason, the Renton Community Foundation will redirect the gift to a related cause or organization.
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Please contact RCF for information about other forms of planned gifts at (425) 687-4622 with questions, or email us at www.rentonfoundation.org.
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