A bequest is a gift from your estate such as a transfer of cash, securities, or other property made through your estate plans. You can make a bequest to NGPA by including language in your will or living trust a specific amount, a percentage of your estate, or for all or a portion of what is left after you have made bequests to your family. To make a gift to NGPA from your estate, you must sign a new will or living trust instrument, add a codicil to your present will, or make an amendment to your present trust instrument.
Alternatively, you can designate NGPA as a beneficiary of a retirement plan or life insurance policy. To do so, contact the retirement plan administrator or life insurance company and complete the appropriate beneficiary designation form. You can designate a specific purpose for such a gift with a separate letter prepared with assistance from NGPA.
An unrestricted gift is the most useful because it can be allocated to NGPA’s highest priorities. However, a gift for a specific purpose is also vital and may take the form of a directed gift or named endowment. Many individuals establish endowments that honor the memory of a family member or cherished mentor. These endowments live forever because only the income is used annually.
All types of assets, including cash, securities, real estate, and tangible personal property can be transferred to NGPA through your estate. You may also consider naming NGPA as the beneficiary of your qualified retirement plan, donor advised fund, or life insurance policy.
Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries. Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.
For more information, please contact us.
Download Suggested Bequest Wording
Contribute from your IRA
Take advantage of the opportunity to make a direct gift from a qualified IRA account to the NGPA.
Here are the basics of how charitable rollovers work:
• You must be age 70½ or older at the time of the gift.
• Transfers must be made directly from a traditional IRA account by your IRA administrator to the NGPA. Funds that are withdrawn by you and then contributed do NOT qualify. Gifts from 401k, 403b, SEP, and other plans do not qualify.
• Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities are not allowed.
• Qualified charitable distributions can total up to $100,000 and count towards your minimum required distribution for the year from your IRA.
If you are interested in making this type of charitable donation, please contact your financial advisor to begin the rollover process.
For some donors, a gift that provides a stream of payments may make the most sense from a personal and financial point of view. There are many different variations but three basic forms:
Charitable gift annuities are contracts with a nonprofit organization in which a donor provides a gift and, in exchange, the non-profit guarantees the donor and/or another beneficiary income for life. Charitable gift annuities may provide immediate (partial) tax deductions, based on the life expectancy of the donor and the anticipated income stream, and/or reduced capital gains tax liability for gifts of long-term appreciated assets.
Charitable remainder trusts allow a donor to select the rate of return, receive fixed or variable lifetime income and a tax deduction. The remainder interests benefit NGPA.
Charitable lead trusts are the reverse of charitable remainder trusts. These trusts provide payment to NGPA for a term of years and then provide the remainder to the beneficiaries.
For more information or to set up a planned gift to the NGPA, please contact us.
Contributions to NGPA are fully tax-deductible as provided by law, though we recommend you consult with your tax professional for more information.
The information presented on these pages are not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain any gift you are considering is appropriate for your specific circumstances.