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| Home > Donor Services |
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| Leave a Legacy |
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Many Initiative Foundation donors have taken advantage of planned giving tools to make a more significant contribution, decrease tax burdens, create lifetime incomes, or preserve family and business legacies. Current laws generously reward those who plan ahead.
Leaving a legacy is important to many of our donors. Your “legacy” commemorates your life and your values. It is what you choose to leave behind after you take care of your family and loved ones. It is how you want to be remembered by future generations. Some donors start a named fund that carries on their personal, family or business values. Others leave a bequest in their will that supports an organization or program that helped or inspired them in their lifetime.
The Initiative Foundation will work with you and/or your professional advisor to find the best vehicle that achieves your charitable goals and maximizes your financial benefits. The following is a brief overview of some of our planned giving tools and gift options. For a vast library of easy-to-understand information and calculators, please see our Donor Resource Center.
Charitable Gift Annuities
Donors earn a lifetime income in exchange for a permanent, tax-deductible gift. The foundation invests the gift and pays donors a guaranteed annual percentage for life as determined by age and current laws. At the death of the surviving beneficiary, the remaining principal goes to the foundation.
Charitable Remainder Trusts
Donors permanently transfer money, securities or other assets to a trust that will then pay an income for life or for a period of years. At the death of the surviving beneficiary, the remaining principal goes to the foundation.
Charitable Lead Trusts
A charitable lead trust is the opposite of a charitable remainder trust. With a lead trust, the donor saves estate taxes by giving income to the foundation for a specific period, after which the trust property transfers to beneficiaries such as children and grandchildren.
Gifts of Appreciated Assets
Donors avoid capital gains taxes on the appreciated portion.
Gifts of Stock & Securities
Donors avoid capital gains taxes and may receive tax deductions in the amount of the fair market value of the security at the date of transfer.
Gifts of Real Estate
Donors avoid capital gains taxes and may receive tax deductions in the amount of the fair market value of the real estate at the date of transfer.
Life Estate Agreements
Donors may deed their home, farm or vacation property to the foundation and retain the right to live on the property for life. Such gifts earn income tax deductions for a portion of the property’s value.
Life Insurance Policies
When the foundation is named the permanent beneficiary and owner of the policy, donors receive a federal tax deduction equal to the cash surrender value of the policy, and are entitled to annual deductions as they pay premiums. This is a great way to make a significant “legacy” gift for a low cost.
Wills/Bequests
Bequests are exempt from federal and Minnesota estate taxes and represent the easiest way to make a significant “legacy” gift with no annual contributions. A bequest may also be used to create a named fund to honor a donor, family or business.
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