Legacy Giving
Here are some of the scenarios that leads your client towards thinking about legacy giving:
Establishing a private foundation
Your client is thinking about establishing a private foundation, but is looking for a simpler, more cost-efficient alternative. The community foundation can help you and your client analyze the pros and cons of creating a Donor Advised Fund or a private foundation.
Sale or disposition of highly appreciated stock
Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the identified charities are too small to accept direct stock gifts. Suggest establishing a fund at a community foundation with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from sale of the stock.
Sale of a business
Your client owns highly appreciated stock in a company that is about to be acquired. The community foundation can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.
Strategic giving
Your client is passionate about helping meet a specific community need and wants to make a meaningful gift. You and your client can work with our grantmaking experts to explore community needs and programs and then direct gift dollars to make the greatest impact.
Substantial RRIF assets
Your client has substantial assets in retirement accounts and wants to leave their estate to family and some favourite causes. The community foundation can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to their heirs and preserving charitable intent.
Selling of real estate
Your client is interested in “downsizing” and simplifying life by selling some property. These transactions have tax ramifications that may be reduced with charitable giving.
Marking a milestone
Whether your client is celebrating a corporate anniversary, a personal milestone (such as a significant birthday, graduation or birth) or marking the passing of a loved one, naming a fund at your community foundation can be a fitting way to remember a particular person or time in your life.
As an allied professional, you know the ins-and-outs of each of these scenarios. Now let NCF help you create a philanthropic solution that will increase your client's current income, increase their heirs' inheritance, create a legacy for the community, and teach their children about philanthropy.
Need a hand navigating the conversation? We are happy to meet with you and your client to assist with this process. The meeting does not direct your client to NCF but helps them clarify their short-term and estate charitable giving dreams.
We also offer free professional development sessions to local firms with up-to-date material on current charitable issues. This material is useful in your estate planning work with your clients. To find out more, contact our Executive Director.