Create Your Planned Giving Legacy
Give back to the place that shaped you in your lifetime.
Together, we can build a brighter future for all.
At the heart of every thriving community is the power of giving. By partnering with Kalamazoo Community Foundation to establish a planned giving strategy, community members can invest in the place that has been a part of their life’s journey.
Whether you’ve lived, worked or raised your family here, your gift will ensure that this place that you love continues to grow, flourish and meet the challenges of tomorrow.
Financial Benefits at a Glance
A planned gift is a donation you commit to now but is received later by Kalamazoo Community Foundation, usually as a part of your estate. Some planned gifts can even provide you or your family with lifelong income while ensuring an eventual gift to us for our community.
Optimal Flexibility & Control
You can structure your gift to meet your personal and family financial goals. Certain gifts, like charitable gift annuities and charitable remainder trusts, can provide you income while also supporting a cause.
Minimal Disruption
Most planned gifts, such as bequests in a will or beneficiary designations, don’t require you to give up assets during your lifetime. You can continue to use your resources while ensuring future support for your chosen causes.
Charitable Deductions & Tax Benefits
Depending on the type of planned gift, you or your heirs may receive tax advantages. Gifts of appreciated securities or charitable remainder trusts can reduce capital gains taxes.
Plus, planned giving is an act of love D in ways you may not realize.
Honoring the Memory of a Loved One
Planned giving is a beautiful way to create a lasting tribute that reflects the values of a loved one and supports causes they cared about.
Giving Back Where You Live
Whether donors have lived, worked, or raised their families in Kalamazoo County, they can be sure their gift will honor and support this community forever.
Involving Family Members
Parents and grandparents can instill a tradition of giving by making philanthropy a shared family mission.
Inspiring & Empowering the Next Generation
Individuals and families can foster a legacy of generosity by teaching the importance of giving, while preserving a brighter future for the next generation.
Planned Giving Options & Non-Cash Gifts
Each planned gift method has its own advantages depending on your financial situation, philanthropic goals and tax considerations. This information is not intended as tax, legal or financial advice. We encourage you to consult with your professional advisor when considering planned gifts of any kind.
Don’t have an advisor? Contact us for suggestions.
Ways to Fuel Your Planned Giving
Bequests (Wills & Trusts)
Although legal consultation is always advisable before designing will provisions, you should know that a bequest may be simply stated in a will as follows:
“I give and bequeath to Kalamazoo Community Foundation _________% of my total estate (or $__________ ).”
Retirement Beneficiary Designations
You name KZCF as a beneficiary of your retirement accounts (e.g., IRA, 401(k), 403(b)) or bank or investment accounts (Transfer on Death or Payable on Death designations). This is often one of the easiest and most tax-efficient ways to leave a legacy gift.
Life Insurance Gifts
You name KZCF as a beneficiary of an existing policy or transfer ownership of the policy to KZCF. If transferring ownership, your premium payments may be tax-deductible.
Income Generating: Charitable Gift Annuities (CGA)
This is a contract between you and KZCF where you give a lump sum donation (and receive the tax benefits of that gift) and then receive lifetime fixed income payments from that gift, a portion of which are tax-free. This can be funded with cash, appreciated stocks or other assets. You can even use a Qualified Charitable Distribution from your IRA up to $54,000. Upon your passing, the remaining balance comes to KZCF. This provides both immediate tax benefits and stable income for you.
Income Generating: Charitable Remainder Trusts (CRT)
You create an irrevocable trust that provides income to you (or another beneficiary) for life or for a term of years. At the end of the term, the remainder is given to KZCF. Types include a Charitable Remainder Unitrust (CRUT), where variable income is based on a percentage of trust assets, or a Charitable Remainder Annuity Trust (CRAT), which ensures fixed income payments.
Charitable Lead Trusts (CLT)
You create an irrevocable trust and that trust pays KZCF an income for a set number of years. At the end of the term, the remaining assets go to back to you, your heirs or other beneficiaries. This is great for donors looking to reduce estate taxes while benefiting charity in the short term.Payments are based on your age; The older you are the greater the annuity payment. If you prefer, you can receive an income tax deduction now and defer receiving the annuity payments until a future date of your choosing. After receiving annuity payments for life, the remainder interest may be used to establish a named charitable fund, or be added to an existing fund.
The tax advantages of both a current and deferred annuity are two-fold. First, you receive an immediate charitable income tax deduction when you create your annuity. Second, a portion of the payments you receive may be treated either as tax-free return of principal or long-term capital gains. These tax advantages increase the effective value of the annuity payments.
IRA Qualified Charitable Distributions (QCD)
If you are aged 70½ or older, you can donate up to $105,000 per year (2024 limit) directly from your IRA to KZCF. The amount is excluded from taxable income and can satisfy Required Minimum Distributions (RMDs).
Note: This cannot be used for Donor Advised Funds or private foundations.
Retained Life Estate (RLE)
You transfer ownership of a personal residence, farm or vacation home to KZCF while retaining the right to live in or use the property for life. This creates an immediate tax deduction and removes property from taxable estate.
Professional advisors: Help is here for you and your clients.
If you are an attorney, accountant, financial planner, insurance agent or other professional, we consider you to be our partners in the charitable giving process.
Your giving legacy starts here.
Book a Consultation
Our easy inquiry form initiates a Q&A session with Ken Greschak, our Estate & Planned Gift advisor. Once we receive your inquiry, we’ll reach out to you for scheduling.
Personalize Your Estate Plan
We’ll work together with your financial, legal and tax professionals to tailor your legacy wishes to support the causes and organizations you care most about.
Enjoy a Personalized & Private Experience
We’re here to assist you by delivering first-rate service to help you achieve your charitable goals in Kalamazoo and beyond.
Planned giving-curious? Let Ken be your guide.
Legacy Planning Library
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Make a Gift That Keeps on Giving!
Contributions to KZCF ensure your gifts will continue to benefit our community forever. Help us make an impact that lasts for generations to come by giving a gift today.
