Different Plans for Different Needs
Cream City Foundation offers several ways for you to make legacy gifts:
Wills and living trusts. When you designate Cream City Foundation as a beneficiary in your will or living trust, you can choose to leave a percentage of your estate, a fixed amount, or a residual bequest (the amount left after specific gifts to your loved ones or charity have been made).
Retirement plans and life insurance. Naming Cream City Foundation as the beneficiary of your life insurance, 401(k), 403(b), IRA, or other retirement plan is a powerful way to provide for the LGBT community. It can also offer significant tax benefits, particularly on retirement plans: while your heirs would face both estate taxes and income taxes, often leaving them only a fraction of the original amount, the money would pass as whole dollars to a nonprofit like Cream City Foundation.
Securities. A donation of appreciated stock, mutual funds, bonds, or other appreciated assets is a effective way to maximize your charitable gift while minimizing the tax burden on your estate and eliminating capital gains tax.
Real estate. Gifts of real estate can provide significant resources to Cream City Foundation and the LGBT community, while offering you benefits such as reducing your income tax liability, avoiding capital gain taxes on the property's appreciation, and relieving you or your executor of the burden of selling the property.
To learn more about how planned giving can make a critical difference for you, the people you love, and your community, please contact us at 414.225.0244.