LEGACY GIVING:

Finding a way to give back to your community provides purpose and meaning.

Legacy giving is a donor’s intention to contribute a planned gift to an organization beyond their lifetime. Planned gifts can come from a variety of traditional and non-traditional assets at times not eligible for gifting during one’s lifetime, including life insurance policies, retirement assets, equity, or real estate holdings. See 3 common ways to give below.

To request a personal consultation, please contact Joe Austin, Executive Director, at (207) 860-0677. All conversations are strictly confidential.

  • 1. Bequest by Will or Living Trust

    Bequests are an easy, low cost way of supporting NDN’s mission. Naming NDN in your will or living trust enables you to support your community and retain complete control over the assets during your lifetime while earning a full charitable deduction on estate taxes.

    Almost any kind of asset may be bequeathed, including cash, securities, tangible personal property, real estate; or a portion or remainder of an IRA, tax sheltered annuity, qualified pension or profit sharing plan.

  • 2. Gifting a Life Insurance

    Gifting a life insurance policy allows you to make a significant legacy gift to the nonprofit community with tax benefits that you can enjoy during your lifetime. To make a permanent gift of life insurance to NDN while you're still alive, you can transfer ownership of your policy to NDN.

    An alternative is to name NDN as the beneficiary of your life insurance policy. This allows you to retain ownership of the policy while still donating your death benefit after you pass. You can name multiple beneficiaries, splitting your death benefit between charities or giving a specified portion to loved ones while also donating some.

  • 3. Donating an IRA and Other Retirement Assets

    You can name NDN as a beneficiary to receive your IRA or other retirement assets upon your death. Neither you and your heirs nor your estate will pay income taxes on the distribution of the assets. Your estate will receive a tax deduction for the charitable contribution, which can be used to offset the estate taxes. It’s possible to divide your retirement assets between charities and heirs.

    Making NDN the beneficiary of your IRA or other retirement assets is typically straightforward: Fill out a designated beneficiary form through your employer or plan administrator.

DISCLAIMER

The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to NDN. We would be pleased to discuss, in confidence, ways in which you may support NDN. These measures may also have an impact on your estate planning.