Leaving a Legacy

A bequest establishes your wishes today while retaining needed assets during your lifetime. Leaving cash, a percentage of your estate, real or personal property to an individual or the EFSC Foundation in your will or estate plan is a simple way to leave a legacy with the potential benefit of tax savings.

This options also lets you support a charitable organization that has made a difference in your life or the lives of others. The bequest can honor the memory of someone who has made a difference in your life. Simply indicate in your will that you would like to leave a gift to a specific organization in memory of a special person.

A gift annuity is a combination charitable gift and long-term investment. The donor may transfer cash, marketable securities or other assets to the EFSC Foundation. In exchange, the donor is paid by an agent of the Foundation a guaranteed annuity income. This income may be paid for a predetermined amount of time or for the remainder of the donor’s life.

The amount of the income depends on the donor’s age and life expectancy. Older annuitants have higher annuity rates. Your donation is divided into two parts: an amount attributed to the charitable gift portion and the amount attributed to your annuity payments.

CGA Benefits

• Annuitant receives regular fixed payments;
• A portion of each gift annuity payment is tax-free;
• Charitable income tax deduction;
• Reduction on capital gains tax;
• Decreases the size of taxable estate;
• Supports the mission of the charity.

Similar to a charitable remainder trust, but the principal asset reverts to the donor or his or her designated heirs at the end of the trust term. During the term of the charitable lead trust, the annuity income interest is distributed annually to the designated charitable beneficiary. The CLT is a taxable trust. The donor is responsible for reporting trust income and paying any tax on the excess amount.

Benefits can include the donor receiving a current federal gift or estate tax deduction for the present value of the payments that will go to charity. If it reverts to an heir, that person receives a charitable gift tax deduction.

Plan you estate to establish an endowed scholarship to assist EFSC students. Once the fund is established, scholarships can be awarded to designated students from the interest that is earned from the investment. Only 5% of the interest or investment earnings are spent for that endowment's purpose. This allows the donor's gift to continue year after year.

A donor can name a charity as the beneficiary of a life insurance policy or retirement plan, with the benefit of the cash value of the gift being tax deductible. For a life insurance gift, future premiums the donor may pay could be tax deductible.

Contributions of appreciated property such as real estate and personal property of value may enable donors to contribute a larger gift at less cost. You may also realize significant tax benefits. For gifts of real estate such as your primary residence, you may donate your home to EFSC and continue to live there for as long as you choose.

To learn more about donating real estate and/or personal property, please contact the EFSC Foundation by phone at 321-433-7055.

In this option, a personal residence is irrevocably deeded to a charity but the donor retains the right to use the residence for his/her lifetime or for a specified term. All routine expenses, maintenance fees, property taxes, repairs, etc. are the responsibility of the donor.

The donor may realize income tax benefits in the year of the gift and estate tax benefits.

Contributions of appreciated mutual funds, stocks, certain bonds, and items of value may enable donors to contribute a larger gift at less cost. Transferring gifts of securities, stocks and bonds, to the EFSC Foundation is easy and can provide significant tax benefits.

Please instruct your broker to contact the EFSC Foundation at 321-433-7055 prior to the transfer of stock.