A bequest is a gift made in your will or trust (or a codicil to your will). It’s one of the easiest and most cost-effective ways to support charitable causes important to you, without compromising the asset you want to give while you are alive.
The process is simple. First, contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form. Second, decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the form. Then, return the completed form to your plan administrator, insurance company, bank or financial institution after making a copy for your records. And finally, contact us to let us know.
Charitable Remainder Trust
A charitable remainder trust (CRT) can help you achieve a number of personal and financial goals. Depending on your circumstances, a CRT can increase income, reduce taxes, unlock appreciated assets, rid you of investment worries and ultimately provide important support to Southwest Initiative Foundation, a community foundation or another local fund at the end of the trust term.
There are two types of charitable remainder trusts: an annuity trust and a unitrust.
The annuity trust pays you, each year, the same dollar amount you choose at the start of the trust. Your payments stay the same, regardless of fluctuations in trust investments. On the other hand, the unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.
An estate planning attorney is a valuable resource when it comes to trust matters. We have a list if you would like a starting point. Just contact us.
Charitable Lead Trust
A charitable lead trust is just the opposite of a charitable remainder trust. After establishing the lead trust, it pays income to Southwest Initiative Foundation for a number of years. Then, your family members receive the remainder at the end of the trust term.
A donor-advised fund is similar to a charitable savings/spending account. It gives you flexibility to recommend how much and how often money is granted to your favorite charitable causes. Southwest Initiative Foundation, a community foundation and other local funds can be recipients of your donor-advised fund grants. In addition, you may establish a donor-advised fund with the Southwest Initiative Foundation with an irrevocable gift of cash or securities, then work with our team to develop a plan that meets your goals. When you pass away, your children or favorite community foundation can carry on your legacy of giving—with grants awarded in your name.
Charitable Gift Annuity
A charitable gift annuity can be established with a gift of cash or appreciated securities. In exchange, you get a flow of income for the remainder of your life. Charitable gift annuity rates can be attractive, and we follow rate recommendations of the American Council on Gift Annuities.
Retained Life Estate
For owners of farmland, a Retained Life Estate can be a great option. You retain the right to utilize the property after transferring the deed to Southwest Initiative Foundation, and you also continue to care for it and pay the property taxes. At your passing, SWIF assumes immediate ownership of the land and can sell or retain the farmland long term. Learn more about our Keep it Growing℠ Farmland Giving program.