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What is Planned Giving?
For some, planned giving is seen as “deferred giving”, or gifts that will be deferred until a later time. For example, donors may name Living Bank in their will but the actual gift will not be realized until the donor dies.
It could be a simple life-income agreement such as a charitable gift annuity that provides you or a beneficiary named by you with an income for a specified period.
Philanthropic intent is the primary motivation for a planned gift—the motivation to enrich your community now and forever, but tax and financial planning considerations may influence the size, assets contributed, and the timing of the gift.
How are Planned Gifts Used?
Most often planned gifts are earmarked for an endowment fund. Typically, the principal of an endowment gift is invested and kept in perpetuity. Only earnings or a portion of the earnings are used each year for specified purposes.
Endowment earnings can be a major source of revenue for Living Bank’s mission. Specifically, an endowment should:
- Increase unrestricted community fund dollars available
- Provide fiscal stability and long-term planning
- Underwrite strategic operations costs to lower costs and increase efficiency
Whether supported through an outright gift or planned gift, all Living Bank programs are made possible through the generosity and commitment of people like you. A planned gift to Living Bank helps to ensure the future of the services and programs we provide in your community and worldwide and may further your financial goals.
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