For over 35 years, Network of Community Ministries has served as a stable source of support for families in our community. Our loyal donors and volunteers have made much of our work possible — — walking with us during our recent growth, allowing us to respond to disasters, weather a pandemic, move to a new facility and help our neighbors meet growing economic challenges.
If Network has held a special place for you and your family as a place to volunteer or a recipient of your financial support, have you ever thought of leaving a gift to Network in your Will or Estate Plan? This kind of future investment, known as a “planned” or “legacy” gift can serve as a lasting tribute to a mission you have supported throughout your lifetime and want to sustain.
Support Your Cause of Choice
Many people deeply care about their community and actively work to improve and strengthen it during their lives. In a similar way, many of Network’s donors and volunteers have supported our organization through the years — — investing in our mission and fortifying our programs. For these individuals, a legacy gift allows this passion and investment to continue. This kind of gift can be associated with a specific program or be allocated to the greatest need — — based on the donor’s intentions at the time the gift is made. This is a wonderful way to make a lasting impact on a social issue that has been meaningful to you and one that you would like to keep nourishing into the future.
Take Care of Your Family
As Benjamin Franklin once said, “Nothing can be said to be certain except death and taxes.” This is no less true in the 21st century, but the burden of taxes can be eased through planned giving. A legacy gift can provide an estate tax deduction which can help your loved ones after your passing. So, not only are you taking care of your community, you’ll also be taking care of your family by lessening a future tax burden for them.
*Ways to Leave a Legacy Gift:
- A Gift in your Will or Living Trust: A charitable gift from your estate through your will is called a bequest. By specifying a dollar amount or percentage of money, you may be able to receive a federal estate tax charitable deduction.
- A Beneficiary Designation: You can name Network as the beneficiary of your retirement plan assets, life insurance policy, or bank account(s).
- A Charitable Gift Annuity: A Charitable Gift Annuity is a contract between a donor and a charity with the following terms: As a donor, you make a sizable gift to charity using cash, securities or possibly other assets. In return, you become eligible to take a partial tax deduction for your donation, plus you receive a fixed stream of income from the charity for the rest of your life.
- A Charitable Remainder Trust: A Charitable Remainder Trust (CRT) is a gift of cash or other property to an irrevocable trust. The donor receives an income stream from the trust for a term of years or for life and the named charity receives the remaining trust assets at the end of the trust term. The donor receives an immediate income tax charitable deduction when the CRT is funded based on the present value of the assets that will eventually go to the named charity.
*Please be sure to consult with a financial advisor to see how these giving options apply to your situation.
Planned giving is a great way to benefit your loved ones and your community, and Network is a wonderful organization to give to. Some of you may have already designated a gift to Network in your estate plan. If so, we would love to hear about it, and include you in Network’s Legacy Society. Others may be considering such a gift but want to learn more about the various options available. Either way, we are here to help.
To talk more about this opportunity or let us know about plans you have already made, please contact Network’s President and CEO Cindy Shafer at firstname.lastname@example.org or 972–360–0934. As an additional resource, we can arrange a free one-on-one session with a financial advisor to help sort out the options available to you.