People are marvelous in their generosity, if they just know the cause is there.
When people hear the term planned giving, they often think of something that only applies to the wealthy. However, this is far from the truth.
Planned giving applies to each and every one of us. Someday our lives will end, and our legacy must begin. Fortunately, we live in a time when we have the opportunity to leave our mark on the generations to come. Through the use of various kinds of charitable gifts, we, too, can create a monument in our time, to
our community and to our families. We can begin preparing for the future now with a planned gift that will ensure that our legacy lives on for generations to come.
What is Planned Giving?
A planned gift is…
- Any gift, in any amount, given for any purpose to a
- Usually a deferred gift (to be given at a later date) or
a current and deferred gift (donation is received
immediately, but access is restricted until a later date).
- Usually requires the help of professional advisors such
as an attorney, accountant or financial planner.
- One that donors structure as part of their financial
and/or estate plans.
Benefits of Planned Giving
For the organization…
- Larger gifts.
- Potential to build endowment fund.
- Less dependence on special events.
For the donor…
- Leaving a legacy
- Income tax deductions
- Reduction of estate taxes
- Income return on charitable gifts higher than regular investments
- Potentially higher inheritance for heirs with appropriate planning
Types of Planned Gifts
- Life Insurance
- Charitable Gift Annuities (CGA)
- Charitable Remainder Trusts (CRT)
- Charitable Lead Trusts (CLT)
- IRAs & 401(k)s
- Life Estate Gifts
Providing Westmoreland Community Aciton, Inc. with a planned giving gift helps us in our mission to provide a better quality of life for children and families in Westmoreland County. Whether large or small, your gift gives our programs a secure future and provides the individuals and families that we serve with the knowledge that our services will be available to future generations.
Through your legacy, you and your family have the opportunity to be the “greatest generation” of the future by helping people rebuild their lives. As Winston Churchill stated, “We make a living by what we get, we make a life by what we give.”
For More Information
Contact Westmoreland Community Action for more information regarding how you can provide a planned giving gift.