What Will Your Legacy Be?
Discover the Benefits of Giving Wisely
THE ADVANTAGES OF PLANNED GIFTS ARE FOR EVERYONE
Planning Your Legacy
Discover the Benefits of Giving Wisely
Bequests
One of the constants in the NCA Charitable Trust’s success story is that those who believe in the mission of the Trust support it financially and make it part of their legacy. From its earliest days, the NCA Charitable Trust needed private support to fund vital Health Research and assist rescued Newfoundland in need.
A bequest allows you to memorialize a loved one, provide financial support for Newfoundland dogs in need or underwrite research, and at the same time be associated with the Trust for the “good of the rising generations” forever.
Which Bequest Is Best For You?
There are many ways to leave a legacy to the Newfoundland breed through the NCA Charitable Trust. Our Gift Planning officers would be happy to discuss with you which method of support best meets your financial and philanthropic needs.
While you support the NCA Charitable Trust’s mission, you can also receive important tax benefits, because all bequests to the NCA Charitable Trust are entirely free from federal estate taxes. Certain bequests, such as retirement plan assets, allow you to give more to the NCA Charitable Trust at significantly less after-tax cost to your other beneficiaries.
Your bequest options include:
Cash Bequest
You can simply leave a specific amount to the NCA Charitable Trust, ensuring that your generosity will be felt in the the NCA Charitable Trust for generations to come.
Bequest of Assets
You can leave specific assets such as securities, your home, or other property to the NCA Charitable Trust.
Residual Bequest
You can designate that the NCA Charitable Trust will receive all or a percentage of the remainder of your estate, after your other beneficiaries are provided for. the NCA Charitable Trust shares in increases or decreases in the value of your estate, which eliminates the concern that a specific bequest will reduce inheritance for family and friends.
Designation of Retirement Fund Assets
By designating retirement fund assets to the NCA Charitable Trust, you can eliminate both the income tax and estate tax (up to 70 percent) that would have to be paid if you left this to individuals.
The following are some of the ways you can designate your bequest:
Unrestricted Gifts
These are especially valuable to the NCA Charitable Trust because they allow the Trust to fulfill its highest priorities when your bequest arrives.
Restricted Purpose
Restricted gifts can support important Trust initiatives such as undergraduate scholarships, graduate fellowships, faculty salaries, or research priorities. You can direct your bequest to any School or program of the Trust.
Current Use or Endowment
Establishing a current use fund for a specific program or department allows the NCA Charitable Trust the flexibility of using the full amount of your gift.
Establishing an endowed fund creates a permanent endowment, providing income every year in perpetuity to carry out its purposes. Please consult us when considering this option, because the minimum amounts for creating endowed funds vary over time.
Perpetuating an Annual Gift
If you typically make a gift to the NCA Charitable Trust each year, you can perpetuate that gift with a bequest equal to 20 times its size. For example, a bequest of $100,000 can create an endowed fund that will distribute approximately $5,000 each year, adjusted for inflation, to the NCA Charitable Trust forever.
Tax Benefits
A bequest is deductible for federal estate-tax purposes, and there is no limit on the amount of the estate tax charitable deduction your estate can take. In addition, bequests generally are not subject to state inheritance or estate taxes. In a large estate, the savings can be more than half the value of the bequest.
Sample Language
Unrestricted Gift: A gift that can be used where need is greatest
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, for its general purposes.
Gift for a Specific Purpose: A gift that is to be used for a specific purpose
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, to establish the (insert name--John and Jane Doe Fund), an endowed (insert purpose—such as scholarship, professorship, or library collection) fund to be held as a permanent fund within the Trust’s general endowment.
Perpetual Endowment Fund: A gift that lasts in perpetuity
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, to be used as a permanent endowment, to be used as a permanent endowment in support of its general purposes (or describe the specific purpose, if desired).
Residuary Bequest: Leaves any remainder after all other bequests have been paid
I give and bequeath __________________________ (describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, all the rest, residue, and remainder of my estate, both real and personal, for its general purposes (or describe the specific purpose, if desired).
Contingency Gift: Takes effect only if a primary intention can’t be met.
If (name of beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give and bequeath to the Newfoundland Club of America Charitable Trust, a non-profit 501(c)(3) corporation 501(c)(3) Fed. ID 06-1500326, all of the rest, residue, and remainder of my estate, to be used for its general purposes (or describe the specific purpose if desired).
Safety Language: Language added whenever a gift is restricted
At any time after the expiration of 25 years from the date of initial funding, the Newfoundland Club of America Charitable Trust, in its sole discretion, shall have the right to determine whether the Fund is then serving the purpose for which it was established and if the Trust determines that it is not, then and in that event, the Trust may, at its option, continue the Fund as an endowment for another purpose.
* Rather than leaving a sum certain, you can include language that refers to a percentage of your estate or a description of the property you wish to give.