Philanthropic Legacy

 

A permanent philanthropic foundation is one way to leave a lasting philanthropic legacy. But you can also accomplish the same thing without a foundation. For example, you could leave a legacy in your honor by creating a named endowment to help people in need. Learn  more about  Philanthropi, go here. 

 

A philanthropic legacy can begin with an idea or vision for making the world a better place. It can be as simple as a desire to support a nonprofit or as complex as a vision for engaging family members in philanthropy. Whatever your motivations are, the Atlanta Jewish Foundation can help you translate your vision for tikkun olam into a game plan. In addition to offering guidance, they can also serve as a one-stop-shop for legacy giving.

 

You can leave a philanthropic legacy by designing a philanthropic trust or charitable remainder trust as the beneficiary of your financial accounts. Another option is charitable gift annuities or charitable remainder trusts, which allow you to provide lifetime payments to your family and a gift to a nonprofit. These plans can be created during your lifetime or as part of your estate plan. Find out for further details on this resource  right here. 

 

Mary and Glenn Workman loved Summerville so much that they created a philanthropic legacy there. They were members of St. Luke's Lutheran Church, and they felt it was their duty to give back to the community. Their designated funds provide a perpetual source of income for nonprofits, allowing them to carry out their day-to-day operations. Take a  look  at this link https://en.wikipedia.org/wiki/Philanthropy  for more information. 
 

Legacy gifts are similar to regular charitable donations, but require more planning and a long-term vision. The purpose is to sustain the charitable organization after you pass away. Many people are confused about how these gifts work and how they impact their estate. However, if you know how to plan ahead and consider tax benefits, a legacy gift is an excellent choice.

 

A private family foundation is another option for leaving a philanthropic legacy. These foundations are set up by a family and funded with assets. Family members may contribute to the nonprofit fund and participate in the grantmaking. The family foundation may be flexible, allowing the donors to change their charitable giving plans over time.