Planned Giving
Planned Giving
Planned giving, also known as legacy giving, is a charitable donation to an organization that typically aligns with the donors values or priorities and is arranged in advance, often as part of a donor’s overall financial or estate plan, and fulfilled at a future date, typically upon the donor’s passing. It involves making a strategic decision to donate assets like cash, securities, property, or other valuable assets through a will, trust, or beneficiary designation.
Planned giving is an opportunity to support the Library’s future! If you would like more information on any of the planning giving options below, please make an appointment to meet with the Library Director at (724) 837-5620 and speak with your financial advisor.
Types of Planned Giving
Bequests
Designating the Library as a beneficiary in a will
Life Insurance Gifts
Donating a life insurance policy to the Library
Charitable Remainder Trusts
Establishing a trust that provides income to the donor and then transfers the remaining assets to the Library
Charitable Lead Trusts
Establishing a trust that provides income to the Library for a period of time, and then transfers the remaining assets to the donor or their heirs
Retirement Plan Distributions
Naming the Library as a beneficiary of an IRA or other retirement account
Real Estate Gifts
Donating real estate property to the Library
Why Planned Giving Is Important
Planned giving is important to both the donor and the recipient for a variety of reasons including:
Long-Term Sustainability
Planned gifts provide a crucial source of funding for the Library, ensuring its long-term financial stability.
Impactful Giving
Planned gifts can enable donors to make more substantial contributions than they might be able to make during their lifetime.
Fulfilling Charitable Goals
Planned giving allows donors to align their charitable giving with their overall financial and estate planning.
Tax Advantages
Planned giving strategies can offer significant tax benefits to donors, including potential estate tax savings.