A charitable bequest could be one of the most important charitable gifts you will ever make. Estate planning, or legacy giving, allows your personal values to make a lasting impact on the Mahoning Valley and can inspire others to join in your commitment. You will pass your values on to your children and grandchildren while teaching them the importance of using resources wisely to help others.
Selecting the right legacy giving vehicle also allows you to reduce your estate and income taxes, maximize the financial and tax benefits of your gift, and make a larger gift than you ever thought possible. Because it is permanently endowed, your gift to the Community Foundation does good forever and creates a legacy that never stops giving.
When getting started, it’s wise to work with your attorney or financial planner as well as Community Foundation staff, to make sure your charitable intentions are fulfilled. We recommend placing your bequest in either an “unrestricted” fund or a “field of interest” fund. An unrestricted fund allows the Foundation to make gifts to any 501(C)(3) non-profit organization as our community’s needs change over time. A field of interest fund is devoted to a defined cause and reflects your values and interests. With either an unrestricted fund or field of interest fund, your gift will enhance the quality of life in Mahoning and Trumbull counties in perpetuity.
Become a Member of the Legacy Society
When you leave a gift to the Community Foundation in your estate plans, you automatically become a member of the Legacy Society. Benefits of becoming a member include:
- A role in determining how your legacy gift will be used
- Inspiration for others to follow your commitment
- Recognition of your commitment in the Community Foundation annual report (unless anonymity is requested)
- Invitation to Legacy recognition events honoring members for their gifts
- Periodic personal updates from the Community Foundation president.
- Receipt of Community Foundation annual report.
What Kind of Assets Can I Leave?
- A specific cash amount
- Stocks, bonds, or certificates of deposit
- A percentage of your estate or assets
- Life insurance policy or retirement plan (you can leave all or a percentage)
With our help, you can enhance your own and your family’s financial well-being while showing your generosity to our community. And because legacy gifts typically are arranged now and paid out later, your gift is one that will grow in value.
If you’ve made arrangements in your estate plans to include the Community Foundation, we would love to know. Please call our office at 330.743.5555.