How it works

A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to The Foundation for Delaware County (or a fund at the Foundation) as part of your estate plan.

Sample Bequest Language

 

A bequest may be made in several ways

• You may gift a specific dollar amount or asset.
• You may gift a percentage of your estate.
• You may gift from the balance or residue of your estate.
• You may make a beneficiary designation of certain assets.

 

Charitable Gift Annuities

A charitable gift annuity can ease the worries of outliving financial resources. It allows you to contribute assets to the Foundation and receive an income tax charitable deduction. In addition to numerous tax advantages, you will receive a guaranteed income for life.

 

Benefits of a charitable gift annuity

• Receive fixed payments to you or another annuitant you designate for life.
• Receive a charitable income tax deduction for the charitable gift portion of the annuity.
• Benefit from payments that may be partially tax-free.
• Establish a future legacy gift through the Foundation to support the organizations or causes that mean the most to you.

 

How a charitable gift annuity works

1. You transfer cash or property to the Foundation (or one of our funds).
2. In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may be tax-free.
3. You will receive a charitable income tax deduction for the gift portion of the annuity.

If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.

 

Charitable Remainder Trusts

You may transfer cash or equities irrevocably to a trust. The trust would then be invested and the assets managed by The Foundation for Delaware County. You would receive either fixed or fluctuating income payments for life. At the termination of the trust period, the remainder would go to the fund at the Foundation that you designate.

 

Benefits of a charitable remainder trust

• Receive income for life, for a term of up to 20 years, or life plus a term of up to 20 years.
• Avoid capital gains on the sale of your appreciated assets.
• Receive an immediate charitable income tax deduction for the charitable portion of the trust.
• Establish a future legacy gift to your community.

 

How a charitable remainder trust works

1. You transfer cash or assets to fund a charitable remainder trust.
2. In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
3. The trust is invested to pay income to you or any other trust beneficiaries you select based on a life, lives, a term of up to 20 years, or a life plus a term of up to 20 years.
4. You receive an income tax deduction in the year you transfer assets to the trust.
5. The Foundation for Delaware County receives what remains in the trust after all trust payments have been made.