Why Planned Giving? Why Now?
Planned gifts tend to be larger, on average, than outright gifts.
Take a look at your own data and evaluate this for yourself. You might be very surprised that you have received bequests without ever asking for them. Then ask yourself how many more you might have received from those who cared deeply about your organization throughout their lifetime, but were never asked for a legacy gift.
If you commit to a planned giving program now and build your endowment when the economy is on the upswing, you will better be able to plan for the future and mitigate your risks through all economic cycles, so that you can continue to carry out your mission.
The Planned Giving Partnership with The Community Foundation for Greater New Haven
Phase I: your organization/your role
- Identifies and qualifies the donor
- Informs and cultivates the donor
- Explores the donor’s best planned giving option(s)
Phase II: the community foundation /beginning of the partnership
- Consults with you and your donor
- Evaluates your donor’s goals
- Prepares a gift proposal
Phase III: the community foundation/gift acceptance
- Finalizes the gift agreement
- Ensures due diligence with gift acceptance policies of The Community Foundation
- Liquidates assets and provides gift acknowledgement
Phase IV: the community foundation/your organization/ gift management & stewardship
- Invests proceeds from asset sale
- Makes annual distributions from the gift to your organization or in the case of life income gifts, to the income beneficiaries
- Provides ongoing consultation to you and your donor
- Keeps the donor informed about your impact to maintain relationship
Planned Giving Defined
We believe adding a planned giving component to your development efforts greatly enhances your relationship with your donors; your relationship with them is deeper and longer-term and you learn more about them along the way, so you know what to suggest to them and when; what they are more likely to say “yes” to and perhaps which avenues to avoid. Your donor will perceive that your development program is increasingly donor-centric with a focus on fulfilling the wishes of the donor in line with the needs of the organization. It also helps donors know that your organization is thinking (and acting) on a long-term vision with strategies to accomplish it.
"A planned gift is any charitable gift that is not a knee-jerk reaction to an appeal, that involved some level of thinking and planning in its relationship to finances, estate plans, and if applicable, to family, and may require either special handling or special stewardship by the organization that is to receive the gift."
— Dotty Weston-Murphy, CAP®
Senior Vice President for Development and Donor Services
The Valley Gives Back™ website offers informative tools for a community-wide planned giving initiative.
Making a charitable gift of tangible personal property through The Community Foundation can help you take an asset you no longer wish to own and put it to work for community good.
You can make The Community Foundation the owner and irrevocable beneficiary of your life insurance policy and either give a paid-up policy or continue to pay premiums - all with tax benefits that you can enjoy during your lifetime. Learn more about gifts of life insurance.
Cash, usually in the form of a check, is an easy and convenient way for you to support worthy causes in the community. Cash gifts enable you as a donor to claim a current tax deduction of up to 50% of your adjusted gross income in any one year when you itemize deductions, with the excess carried forward for an additional five years. Learn more.
If you own highly appreciated stock, a pooled income fund may be an effective way to achieve your charitable goals, increase your income and save on taxes. Learn More about pooled income funds.
The Community Foundation accepts most securities as charitable gifts. Such gifts will be valued at the mean market value on the date of the gift. After the security is liquidated, the remaining value of the gift is available to support your charitable goals. Learn more.
You can place cash or property into a trust that pays a fixed amount to The Foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes. Learn more about charitable lead trusts.
You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to The Community Foundation and is placed into a charitable fund you have selected. You receive income tax benefits the year you establish your trust. Learn more about charitable remainder trusts.
You can make a gift of cash or property to The Community Foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life. Learn more about charitable gift annuities.
Making a charitable gift of real estate through The Community Foundation can help you turn your property gains into community good. The value of your real estate may exceed that of any other asset you own.