In recognition of a planned gift, a donor becomes a member of the Legacy Society for life. He or she also receives a distinctive lapel pin, recognition at the Civitan International World Headquarters in Birmingham, Alabama and an invitation as a guest of honor to the President's Council reception held at International Conventions (Civitan International will also respect the wishes of any who choose to donate anonymously). Listed below are several ways Civitans can make planned gifts.
Including the Civitan International Foundation in your will is the easiest way to make a significant gift of lasting value without depleting your financial resources. If you don't have a will, you should have one drawn up anyway. If you've already created a will, it is very easily modified through a codicil. By carefully planning and managing your assets, you can help ensure security for your family and heirs while providing a legacy for organizations which are important to you.
Another simple and often surprisingly inexpensive way to help Civitan is to donate an insurance policy, either an existing policy whose beneficiary is no long appropriate or a new one. Assigning the policy to the Civitan International Foundation makes all payments tax deductible in the U.S. The cash value of an existing policy is also deductible if given to the Foundation.
Charitable Gift Annuities
Annuities provide an income for the life of a donor or other person (or persons) he or she designates. A gift of at least $5,000 is made to the Foundation, which agrees to pay a specified percentage back annually for the life of the person or people named. Because part of the payments are actually a return of the principal rather than just earnings, high rates are attractive and competitive. Rates are based on the named people's ages. Part of the gift and the subsequent income can be tax-deductible in most cases, adding to the net return. Any money remaining after the named individual dies is retained by the Foundation.
Giving Property (including stocks, bonds, and real estate)
U.S. tax laws permit deductions for the current cash value of certain types of property. If the property has appreciated greatly in value since it was obtained by the owner, substantial tax savings can be obtained. In some cases, assets that do not produce income can be turned into an ongoing income stream by donating them to the Foundation.
Any number of trust fund types can be attractive for people with large estates while providing income for the Foundation. Planned giving has many options available. They change frequently, and are usually affected by state laws. Anyone considering making a Planned Gift or contributing any substantial cash amount should contact a member of the Planned Giving Committee or the Civitan International Revenue Development staff first. Tax or legal advice should be obtained locally.
For more information about any aspect of planned giving, contact Civitan International's Planned Giving Department.