Planned giving is a powerful way to support Canyon Cares
There are many ways to financially assist Canyon Cares, including planned giving.
A planned gift is a donation typically made as part of a donor’s estate planning. Examples of this type of gift include gifts of stock, life insurance benefits, retirement plans, real estate, personal property, or cash.
These gifts can be made during someone’s lifetime or upon their death.
Recently, Canyon Cares received the proceeds of several planned gifts, which helped significantly expand the geographic area we can now serve.
We can now accept donations of stock, personal property, and proceeds from life insurance or retirement plan benefits.
In fact, we are pleased to announce that we have arranged a way to accept stocks, bonds, etc. directly as a tax-advantaged way for those who would like to donate to Canyon Cares with this wonderful, tax-advantaged option! (Hurry if you would like to take this year-end deduction you must make the donation by Dec. 31st.)
While there are many good reasons to consider adding a planned gift to your estate plans, some of the most commonly recognized are below.
You can create an avenue to leave a legacy for yourself and your family.
Many organizations refer to planned giving as legacy giving. It often allows someone to make a gift as a tribute to a family member or to create a legacy for themselves. The donor benefits from the planned gift by making a lasting impact upon a cause they care about.
You can make a significant impact on the mission of an organization.
While many people respond to annual or ongoing fund appeals as a form of support, we often wish we could do so much more when the need is so great. A gift of an asset that has been appreciated over a lifetime might allow an organization to serve those in need for years to come
You can take advantage of tax savings for yourself and your heirs.
Many types of planned gift vehicles such as Charitable Remainder Trusts and Qualified Charitable Distributions offer significant tax advantages as part of the donation. Donating cash or property can also significantly reduce estate taxes paid by heirs.
(I do not attempt to offer tax advice here; simply know that this is a significant benefit that can be discussed with an estate professional.)
You may have more control over how your donation is used.
A planned gift outlined in a will or estate plan is a form of a legal contract made with the non-profit beneficiary. As such, the funds must be spent as stipulated in the contract for the donation to be accepted.
In other words, if there’s an element of an organization’s mission you are passionate about, you get a say.
You can “repay” an organization that may have helped you or a family member as a way to pass it on.
This last one is a bit tricky to explain. I know in my work with service organizations that many of the recipients of aid are incredibly grateful for the support they’ve received, and often cannot financially support an organization in return.
A planned gift is a way to make a future donation for the support received today.
As a registered 501(c)3, Canyon Cares would love to talk with you about ways your planned gifts might allow us to continue to serve residents of our mountain community.