Leave A Legacy
“What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.” ~Pericles
Legacy Society members are generous individuals who have used their estate plans to build or add to endowed Funds at Gilroy Foundation. Also, the Foundation has received gifts by being named as “beneficiary” of Legacy Society member’s retirement plans.
For many, a gift from their estate is the most meaningful gift ever. It preserves their family name and creates a charitable legacy that supports the causes that matter…for good….forever.
It is easy to become a Gilroy Foundation Legacy Society member. Simply notify us that you plan to leave a gift to Gilroy Foundation…no documentation needed.
We thank the members of our Legacy Society for their foresight and commitment to Gilroy.
What is it you love about our community? What would you like to preserve for future generations?
Bequests are the most frequent type of planned gift made to charity. You can ensure your commitment to the community continues with a bequest to Gilroy Foundation through your will or trust. Your estate receives a charitable deduction for the full amount given, so your heirs pay no estate tax on the amount you give to charity.
You may also choose to use a bequest to set up named funds, such as donor-advised, designated (for a specific nonprofit), or field-of-interest funds (for a cause you care about). If you have an existing fund at the GF, the bequest may be directed to the existing fund.
Should you wish to create a new fund through the bequest, you should also contact Gilroy Foundation as we require additional information to set up one of these funds that could affect the language used in your will or trust.
With an immediate gift or a planned gift through Gilroy Foundation, you can ensure you will continue to make a difference for generations to come. Some types of planned gifts allow you to receive income for life, then benefit charity after you’ve passed on.
Whatever your needs, Gilroy Foundation offers an array of options that can continue your commitment to the community years for years to come.
Remembering the Causes You Care About
Do you want to protect open space? Provide affordable housing? Help seniors?
With a planned gift to Gilroy Foundation, you can provide funding in perpetuity for the causes you are most passionate about. Your legacy gift can create a field-of-interest fund at the Foundation, and Gilroy Foundation will ensure grants are made each year to the organizations doing the best work in that field.
Creating a Family Legacy
Through Gilroy Foundation, you can leave a philanthropic legacy for your children or grandchildren. By creating or adding to a donor-advised fund through your estate plan, your family’s charitable involvement can continue for many years to come.
Remembering Your Favorite Charities
With a gift to Gilroy Foundation, you can create a designated fund to benefit a specific nonprofit in perpetuity. Gilroy Foundation grants 5% of the value of the fund to the agency each year.
With this type of gift, you can have confidence your lasting legacy will be a permanent endowment for your chosen nonprofit, or, should that agency cease to exist, the funds would be re-directed to a similar purpose.
Your Immediate Gift allows you to see your charitable dollars working for your causes during your lifetime, while your Planned Gift affects your community for the future generations.
Types of Planned Gifts
Bequests are the most frequent type of planned gift made to charity. Your estate receives a charitable deduction for the full, one-time amount given, so your heirs pay no estate tax on the amount given.
Life Income Plans
You can make a gift to charity, earn immediate tax savings, but keep the income your gift earns for as long as you live by using a charitable remainder trust, available through Gilroy Foundation.
Charitable Lead Unitrust
Opposite of the charitable remainder trust is the charitable lead unitrust, which makes regular income-tax-deductible gifts to charity as the income beneficiary. When the trust terminates, the entire principal is returned to you or to your heirs. Although the Foundation cannot act as Trustee, your personal estate planning professional may advise you on this option.
Life Insurance & Retirement
Your life insurance policy or retirement plan (IRA, 401k) can be used as a charitable gift by naming Gilroy Foundation as beneficiary.
Contact us for more information.