If you want to build charitable giving into your estate plan, TCFHR can help you realize your goals, achieve tax advantages, and leave a growing legacy for generations to come. You can structure your gifts to accomplish long-term goals of providing for your loved ones, reducing taxes, and supporting worthy causes.
We’ve been a trusted partner here since 1998. As our community’s needs and opportunities continue to change, TCFHR will be here to steward your gifts according to your charitable intent in perpetuity.
We can work with you to create an agreement outlining your future charitable plans for maximum flexibility. There is no fee to establish the agreement or to make future changes.
An endowment fund here at TCFHR allows you to generate more funding in the long run than an initial outright donation would have, maximizing your long-term philanthropic impact.
There are many ways to create lasting community impact through a planned gift. The following planned gifts can be utilized during your lifetime, and beyond:
Bequest
Include specific language in your will or trust naming a new or existing fund TCFHR as the beneficiary. You can specify a specific dollar amount, a percentage of your estate, or the remainder of your estate. Your estate receives a charitable deduction equal to the value of your gift.
Pension Plan Assets
Beneficiary Designation: Designate TCFHR as the sole or partial beneficiary of assets remaining in a retirement plan. After death your proceeds would be directed to a TCFHR fund. This strategy can be far more advantageous than having those assets included in a taxable estate or leaving them to heirs.
IRA Qualified Charitable Distribution: Under current legislation, holders of traditional and Roth IRAs who are at least 70-1/2 years old can make direct charitable transfers annually of up to $100,000 per taxpayer. As a qualified public charity, we can help you execute the transfer to either an existing or a new fund. Under current law, IRA Charitable Rollovers cannot be directed to Donor-Advised Funds.
Charitable Lead Trust
You can place assets in a trust that pays a fixed amount to a charitable fund at TCFHR, including a donor-advised fund that you establish, for the number of years you select. Once this predetermined period ends, the assets held by the trust are transferred to the beneficiaries you name. The trust assets pass to the recipients at reduced tax cost, sometimes even tax-free.
Life Insurance
If you have a life insurance policy that is no longer needed for its intended purpose (for example, your children are grown, your spouse has predeceased you, tax laws have changed), you can name TCFHR as the owner and beneficiary. You can also name TCFHR as a partial and/or contingent beneficiary, so that if one or more of the primary beneficiaries predecease you, their share can go directly to a TCFHR fund.
