Planned giving isn’t just about preparing a pinnacle gift that serves as a personal mission statement, allowing BWHI to affirm your values through our work. This level of giving is about mapping out your legacy and defining your impact for generations to come.
Planned Giving Basics
Planned giving provides an opportunity for focused generosity. It allows estates and individuals to make larger donations to charities than they could from regular income. Some planned gifts provide donors with lifelong income. Others use estate and tax planning to benefit both charities and heirs, maximizing the gift while minimizing estate impact. A planned gift is any major donation made during life or at death as part of overall financial or estate planning. These can include gifts of equity, life insurance, real estate, personal property, or cash. Have questions? Ask us.
Wills, Living Trusts, & Bequests
A will is a legal document that specifies how a person’s assets should be distributed after their death. It’s a crucial instrument for ensuring that one’s final wishes are carried out, including any charitable intentions. A living trust is a legal arrangement that allows you to place your assets into a trust while you’re still alive, and a bequest is a specific gift left to a person or organization through a will. In the context of planned giving, a bequest is a donation made to a charitable organization that takes effect upon the donor’s passing. Wills, living trusts, and bequests offer donors a straightforward way to leave a lasting impact on the causes they care about while potentially reducing estate taxes for their heirs. In order to execute any of these options, you should speak with your attorney and then notify BWHI of inclusion in your estate plans.
Beneficiary Designations
Any retirement fund (IRA, 401(k), 403(b), pension), investment or bank account, or life insurance policy may be designated to Black Women’s Health Imperative as a beneficiary. If you are interested in making a gift but are also concerned about you or your family’s financial needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment, or bank account and continue to freely use your account. To make BWHI a beneficiary of part or all of the residual assets, complete a beneficiary designation form and submit it to your plan administrator.
IRA Rollover
If you are 72 or older with an individual retirement account, you can satisfy your required minimum distribution for the year by donating it to Black Women’s Health
Imperative. An IRA rollover reduces your taxable income of gifts up to $100,000. Contact your IRA plan administrator to make a gift from your IRA to the organization.
Donor Advised Funds
A Donor Advised Fund (DAF) is a flexible and tax-advantageous way to support the Black Women’s Health Imperative. This charitable investment account allows donors to make an irrevocable contribution of cash, securities, or other assets to receive an immediate tax deduction for the full value of the contribution. As the funds are invested they can grow tax-free over time and donors can recommend grants from the fund to support BWHI’s mission at their own pace. With a DAF, you can ensure that your contributions are managed and distributed in a way that maximizes your intended impact, aligning your philanthropic goals with meaningful change.
Benefits of Planned Giving
- Create a lasting legacy: Shape the future of Black women’s health long after your lifetime, ensuring your values and vision continue to make a difference.
- Maximize your impact: Make larger gifts than you might have thought possible, amplifying your support for BWHI’s crucial work.
- Enjoy tax advantages: Potentially reduce your tax burden while supporting a cause you care about deeply – a win-win for you and BWHI.
- Maintain financial security: Many planned giving options allow you to support BWHI while still providing for yourself and your loved ones.
- Tailor your gift: Customize your contribution to align perfectly with your financial situation, our impact blocks and your philanthropic goals.
- Inspire others: Your planned gift can motivate friends, family, and colleagues to consider their own legacies, creating a ripple effect of generosity.
- Gain recognition: Join esteemed giving societies like The Byllye Avery Society, celebrating your commitment to Black women’s health equity.
- Strengthen BWHI’s future: Provide the organization with the long-term financial stability needed to plan ambitious, transformative programs.
By embracing planned giving, you’re not just donating – your foresight today becomes the foundation for tomorrow’s breakthroughs.
To learn more about planned giving opportunities at the Black Women’s Health Imperative, contact the Development Department:
Kris Salkil
Executive Vice President, Development
ksalkil@bwhi.org
(470) 834-6073