We can help you to define your vision
and plan your giving strategy.
The Community Foundation of the Verdugos seeks to help donors with their plans to leave a perpetual legacy through charitable bequests, life income gifts, retirement assets, or any other planned giving options. By working with the Foundation in this respect, a donor is able to experience and see the power of what their legacy can do while they are still living.
Since 1956 when the Foundation was established, countless individuals and families – along with their financial advisors – have been guided to turn philanthropic visions into reality. We can assist in defining your vision, planning your giving strategy, and helping you to decide what giving option works best for you.
The three most common forms for future giving include bequests, life income gifts, and retirement plan assets.
- Bequests are easy to set up, are flexible, and provide a range of giving options. The instructions you provide can be as detailed as you wish, and you may direct your philanthropy through a number of different CFV funds in addition to, or in lieu of, any fund you may wish to establish.
In your bequest, you can choose to give a specific dollar amount, a percentage of your estate, or what remains after other bequests have been satisfied, such as those to family members. You can also plan for your heirs to get a lifetime income from your estate with the remainder directed to the Foundation for charitable purposes. Bequests to the Foundation earn a full, charitable deduction on estate taxes.
- Life income gifts permit you to leave your legacy in the care of the Community Foundation of the Verdugos while earning income for yourself while you are still living. Life income gift vehicles include Charitable Remainder Trusts (CRTs) and Charitable Gift Annuities.
A Charitable Remainder Trust (CRT) provides you with immediate tax benefits and is set up to generate lifetime income for specified beneficiaries, including yourself! Upon a donor’s passing, the “remainder” of the Trust’s assets are transferred to the Community Foundation of the Verdugos or other beneficiary nonprofit organizations.
In a Charitable Gift Annuity, the donor agrees to make a donation of cash, stocks or other assets to the Community Foundation of the Verdugos and in return, the Foundation agrees to pay the donor (or someone else as selected by the donor) with a fixed amount annually for the rest of the donor’s life. In addition to helping the Foundation and getting fixed payments for life, donors receive a partial income tax-deduction on the initial gift as well as the fixed payments. Also, the payments are not affected by the ups and downs of the economy.
A Charitable Gift Annuity can provide payments for one or two people (including a spouse or loved one), and if appreciated stock is used to make the initial gift, capital gains can usually be eliminated on a portion of the gift with the remaining capital gains spread over the donor’s life expectancy.
Though we always advise that you consult with your tax or financial advisor, in general, the savings in estate taxes resulting from a gift to the Community Foundation of the Verdugos can be significant.
Gifts accepted include cash, real estate, appreciated stock, and other assets. You are invited to contact us at any time to discuss a legacy plan and to determine the best fund type for your philanthropic vision.