Leave a Legacy of Strength

Many people provide immediate gifts to support NOF and also consider providing for a gift as a part of their estate plans, called “planned giving.”

Planned giving offers individuals ways to support NOF’s long-term strength while also maximizing the impact of their financial assets and the benefit of tax laws that have been created specifically to encourage philanthropy.

A planned gift can extend an individual’s influence beyond his or her own lifetime and provide for the continuation of important programs to benefit others.

Bequests

A bequest is a simple provision in your will or revocable (living) trust that provides for an eventual gift to NOF.

The benefits of providing for a charitable bequest include:

  • The satisfaction of knowing that your assets will be used to further the work of an organization that will continue to serve others
  • Potentially savings on inheritance and estate taxes
  • Immediate recognition as a donor to NOF’s Legacy of Strength Society
  • Simplicity, since all that is needed is the proper language in your will or revocable trust

Bequests may be stated as a specific amount of money, a specific asset, or a percentage of your estate. You can provide that the remainder of your estate comes to NOF after other purposes of your will have been fulfilled (called a “residuary bequest”). You may also provide for a “contingent bequest” to NOF, meaning that the funds come to NOF in case a designated individual heir is no longer living.

Providing for a bequest is a simple matter of asking your attorney to include the right wording in your will or trust agreement. It is important that the wording clearly describes your intentions and identifies NOF as the recipient. For example:

Bequest for a Specific Sum of Money

I give, devise, and bequeath to the National Osteoporosis Foundation (EIN 36-3350532), a 501(c)(3) non-profit organization currently headquartered in Arlington, Virginia, the sum of $ _________, to be used in furtherance of its mission.

Residual Bequest

[After other purposes of your will have been stated]: All the rest, residue, and remainder of my estate, both real and personal, I give to the National Osteoporosis Foundation (EIN 36-3350532), a 501(c)(3) non-profit organization currently headquartered in Arlington, Virginia, to be used in furtherance of its mission.

Contingent Bequest

[After naming an individual as your beneficiary]: If (name of beneficiary) does not survive me by 90 days, I give his/her inheritance instead to the National Osteoporosis Foundation (EIN 36-3350532), a 501(c)(3) non-profit organization currently headquartered in Arlington, Virginia, to be used in furtherance of its mission.

Using Life Insurance to Make a Gift

Life insurance can be an attractive strategy for funding an eventual gift to NOF. A simple method is to name NOF as a beneficiary. The death benefit will be paid to NOF and may exceed what you otherwise could have given from your existing assets.

If you have a policy that pays annual dividends, you can assign those dividends as a charitable gift to NOF and receive an income tax deduction for their value. You may also transfer ownership of a policy to NOF and then take an income tax deduction for any premiums that you continue to pay. If the policy has a cash value, you also receive a tax deduction for the amount of the cash value when you assign ownership to NOF.

The benefits of a planned gift using life insurance include

  • The satisfaction of knowing that your assets will be used to further the work of an organization that will continue to serve others
  • Potential income tax savings
  • In some case, the ability to make a larger gift through life insurance than you might be able to afford from current assets

Gifts That Pay a Lifetime Income

The law provides other tools that can secure NOF’s future and also offer attractive benefits to the donor, friends, or family members. Charitable Remainder Trusts and Charitable Gift Annuities provide the donor and/or another named individual, with an income for life.

The benefits of a charitable remainder trust or a charitable gift annuity include

  • The satisfaction of knowing that your assets will be used to further the work of an organization that shares your goals
  • Lifetime income paid to you (and/or another individual)
  • Potential income tax, capital gains, and estate tax savings

Charitable Remainder Trust: How It Works

You transfer assets to a trust. The assets are carefully invested by your trustee. Your trustee pays income to you and/or another individual for life, based on investment returns. Because the trust’s assets are invested, this income may grow over the years. When the last income recipient is no longer living, the trust’s principal comes to NOF, to be used in support of our mission.

You receive an income tax deduction for a portion of the amount given. If you give appreciated securities, there is no capital gains tax on the increased value. And you may also save on estate taxes, since the assets given to the trust are removed from your estate.

Establishing a charitable remainder trust requires a written agreement between you and your trustee and must be drafted by your attorney. NOF can provide you with an illustration of the benefits you might receive from a charitable remainder trust and provide your attorney with sample documents for creating the trust.

Charitable Gift Annuity: How It Works

Unlike the charitable remainder trust, no trustee is needed. A charitable gift annuity is a simple contract between you and NOF. You make a gift to NOF and NOF agrees to pay you and/or another individual, a fixed income for life. The income payments are backed-up by NOF’s full faith and credit and may begin immediately or at some future date that you specify. For example, some people prefer to defer the beginning of income until retirement.

You receive an income tax deduction for a portion of the gift, which depends in part on your age and in part on the income payment on which you and NOF agree. In addition, you may save on estate taxes, since the gift is removed from your taxable assets.

NOF can develop an illustration of how a charitable gift annuity would work for you and provide sample documents as guides to you and your advisor/s.

Founder’s Circle 

NOF’s Founder’s Circle includes individuals who have informed us that they have provided for a planned gift, including bequests and other arrangements. Members receive special communications and invitations from NOF and are honored in our publications and on our website.

Letting us know of your plans and permitting us to publicly recognize your generous gift plan helps us to plan for our financial future and inspires gifts from others. The power of your example encourages additional support for NOF and increases the impact of your gift even more.

View our Founder’s Circle Members

NOF Can Help

NOF cannot provide legal or financial advice and you should consult your own specialists before planning a gift. But NOF can develop a specific illustration or proposal for you, provide additional information to you and your advisors, and answer any questions you may have about the impact of your planned gift on our work.

For further information or to consult with us on how to establish a gift plan, please contact NOF’s Director of Development, Debra Erikson at (703) 647-3000 or by e-mail at debra.erikson@nof.org.

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