Key Benefits of Legacy Giving

Finding a remarkable ways to give back to your community or to an organization that is in line with your values offers purposes and meaning. Even though we often take what can we do now approach to charitable giving, the bare truth is planned giving is a perfect way to maximize charitable impact after your lifetime.

Keep in mind planned gifts are often larger than standard donations and can help drive major philanthropic dollars into the nonprofit sector. With legacy gift, rest assured you can attain your philanthropic goals with sheer ease. Having said that, here are a few benefits accompanying legacy giving.

Your Donation will Build a Brighter Future for Everyone

There is no greater legacy than helping the next generation realize their dreams. Every time you make a donation to an organization of choice, your generosity helps put kids on the path to success, makes mental health services more accessible, keeps seniors connected, strengthens essential frontline partners, and much more. It all depends with the organization you decide to partner with.

Help Secure an Organization’s Future

One of the major benefits of legacy gifts is that they promise future funding for an organization. There are numerous ways to give a legacy gift, but they are generally left as a bequest in a will. They’re also occasionally offered as large sums of money that a nonprofit can either invest or get an ‘income’ from over a long period of time.

It is worth mentioning that nonprofits have to steward their relationships with planned giving donors to remain in their wills over time. But they can still use these expected funds to plan ahead and budget for the future, including for economic crises.

Tax Incentives

Most governments have created valuable tax incentives to encourage people to leave legacy gifts. If you so decide to leave a legacy gift, your estate receives a tax receipts for the value of the gift, which adds a tax credit to your final income tax return. This has the potential to help ensure you maximize the value of your residential estate for your beneficiaries.

There is a lot more to giving a legacy gift than what is merely included in this simple guide. If you’re still undecided on whether to take this path, then it would be better to do your homework. Only then can you be easily convinced to give out legacy gifts.

Most Popular