Custom Giving Solutions
Planned Giving
You have spent a lifetime building your legacy through your family, career, and values. Thoughtful planning can extend that legacy beyond your lifetime. For donors who wish to make a charitable gift through their estate plans without maintaining a charitable account during their lifetime, a legacy plan is an excellent option. A simple document makes you a fundholder and only activates once assets are received from your estate.
A legacy plan articulates the charitable component of your estate, customized to include your successors or heirs, field(s) of interests, specific nonprofits, or any combination of these factors. All of our funds can accept noncash assets, including complex gifts like privately held business interests, real estate, or cryptocurrency.
Legacy funds offer flexibility—you can adjust the named charities, percentage of funds allocated to each, and investment options as often as needed, without having to update your estate plan, saving you time and money. Additionally, you can close the fund if your plans change. By establishing a legacy fund in your estate plan, you can support your family and create a charitable impact you may never have imagined.
A legacy plan articulates the charitable component of your estate, customized to include your successors or heirs, field(s) of interests, specific nonprofits, or any combination of these factors. All of our funds can accept noncash assets, including complex gifts like privately held business interests, real estate, or cryptocurrency.
Legacy funds offer flexibility—you can adjust the named charities, percentage of funds allocated to each, and investment options as often as needed, without having to update your estate plan, saving you time and money. Additionally, you can close the fund if your plans change. By establishing a legacy fund in your estate plan, you can support your family and create a charitable impact you may never have imagined.
Custom Giving Solutions
Planned Giving
You have spent a lifetime building your legacy through your family, career, and values. Thoughtful planning can extend that legacy beyond your lifetime. For donors who wish to make a charitable gift through their estate plans without maintaining a charitable account during their lifetime, a legacy plan is an excellent option.
What is a Legacy Plan?
A legacy fund is a simple plan that activates only when assets are received from your estate, allowing you to customize your charitable wishes—including successor involvement, fields of interest, and preferred nonprofits—without having to update your estate plan. All funds can accept noncash assets like real estate, business interests, or cryptocurrency, and offer the flexibility to adjust charitable beneficiaries, allocations, and investment options at any time.
Learn more about types of legacy gifts here.
With a planned gift to a legacy fund, you can:
- Pass the fund to heirs who will then advise donations to your favorite causes, ensuring your family's legacy endures.
- Significantly reduce estate tax liability for heirs.
- Include family in estate planning discussions to ensure clarity on philanthropic legacy.
- Increase charitable impact.
- Address urgent needs in the community that arise now or in the future.
- Provide lasting support for causes that matter to you, such as education or the environment.
- Provide perpetual support for your favorite nonprofit organization(s)
How Legacy Plans Work
Endowments can be set up in a variety of ways, depending on your wishes.
- The legacy fund is a "shell" until it receives assets, with no fees incurred until then.
- The fund outlines your plan to support the named nonprofit(s) or causes. The estate will name Community Foundation Tampa Bay as a recipient, and you can make unlimited changes. Then, heirs or trustees can advise the fund.
- You choose whether your selected nonprofit(s) receive an immediate payout upon recepit of assets or are placed on a payout schedule.
- You may also designate a cause, then the Community Foundation staff will identify an appropriate nonprofit that fits your specifications.
- You can elect to include any specific program designations or restrictions.
- You may designate a "Plan B" in the event some of the named nonprofit(s) go our of business or dramatically alter their mission.
- You have the option to participate in fundholder events, such as legacy luncheons or behind-the-scenes tours of nonprofits, where you can network with fellow philanthropists. Alternatively, you can choose to opt out of these events.
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