Planned Giving

What Is Planned Giving?

Planned giving, also known as gift planning or legacy giving is a donor’s desire to contribute a major gift to an organization, beyond their lifetime. Unlike an annual gift, a planned gift is for the future. In short, a potential donor makes arrangements for a planned gift in the present, but they are only given at a later date – such as when the donor perishes. These major gifts from a donor can be made as part of their financial or estate plans. 

The good news, planned giving is not limited by a donors’ current wealth. Instead, planned giving provides donors’ the ability to contribute gifts they wouldn’t ordinarily be able to make on a yearly or recurring basis. As a result, planned giving donations end up being substantially larger and typically aren’t dependent on the donors’ regular income. That’s why you’ll see most planned gifts contributed by donors are in the form of life insurance, equity, real estate holdings, artwork and many other forms.

Planned Giving is critical to nonprofits longevity and livelihood as planned gifts tend to be the biggest donation the organization receives. Planned giving greatly aids nonprofits while nurturing the donors’ everlasting legacy.

How Do I Contribute?

Planned giving ‘gifts’ can take many shapes and forms; however, some of the most common ways donors contribute are through life insurance, cash, equity, real estate holdings, artwork and many other forms. That way, it’s not restricted to your income or current wealth.

Don’t forget, if you intend to take out a life insurance policy, name the nonprofit as your beneficiary or one of the beneficiaries. As a best practice, inform the nonprofit of the terms and policy too! If you plan on gifting real estate, equity or other forms of property, be sure to have it documented in your will. 

The Fastest Way To Do It

At Life Legacy, we offer Life Insurance policies for your legacy. Our mission driven channel allows you to gift a policy towards a cause that you’re passionate about. We’re here to help you protect your legacy while making the world a better place.

For less than three cups of coffee per month, you can bring everlasting change to this world – and something you’re passionate about!

Why Planned Giving Is Important

Planned giving, also known as legacy giving is vital to nonprofits’ longevity and ability to carry out their mission in the future. Life Legacy’s legacy giving policies are among the largest gifts a nonprofit will receive, often 200 to 300 times the size of annual gifts. We’re committed to providing nonprofits with additional income to help sustain and support fundraising results, better-allowing organizations to weather the fluctuations in charitable giving. After all, we’re here to help make the world a better place!

Benefits of Planned Giving

Donor Benefits

Nonprofit Benefits

Sizable Tax Break:  From a financial perspective, the tax breaks are a huge advantage to making a planned giving arrangement. The specifics will vary on a case-by-case basis, but the tax breaks are significant for most.

Determine When Funds Are Used:  When donors donate money to an annual fund they have little say or control on how their money is spent within the organization. Planned giving puts the power entirely into the donors hands. The donor specifies how the gift will be used.

Capitalize on Donor Loyalty: Many donors want to give a major gift in their lifetime, but don’t have the financial means to do so. Planned giving allows donors to give large gifts after they’ve passed away, when life expenses won’t interfere.

Largest Annual Gifts: Planned giving contributions are among the largest gifts a nonprofit will receive (each year), often 200 to 300 times the size of annual gifts.

Benefits of Planned Giving

Donor Benefits

Sizable Tax Break:  From a financial perspective, the tax breaks are a huge advantage to making a planned giving arrangement. The specifics will vary on a case-by-case basis, but the tax breaks are significant for most.

Determine When Funds Are Used: When donors donate money to an annual fund they have little say or control on how their money is spent within the organization. Planned giving puts the power entirely into the donors hands. The donor specifies how the gift will be used.

Nonprofit Benefits

Capitalize on Donor Loyalty: Many donors want to give a major gift in their lifetime, but don’t have the financial means to do so. Planned giving allows donors to give large gifts after they’ve passed away, when life expenses won’t interfere.

Largest Annual Gifts: Planned giving contributions are among the largest gifts a nonprofit will receive (each year), often 200 to 300 times the size of annual gifts.

Planned Giving Tax Break

From a financial perspective, the tax breaks are a huge advantage to making a planned giving arrangement for donors. The specifics will vary on a case-by-case basis, but the tax breaks are significant for most.

Get Your Planned Giving Policy Started Today

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Questions? Don’t hesitate to reach out to support@lifelegacy.io. We’re more than happy to help answer any questions you might have about planned giving or our offerings!

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