Planned Giving & Charitable Gift Annuities
Create a Lasting Legacy Through United Way
You can achieve your personal financial goals and support the things you believe in, like making a difference in someone's life. Including United Way of the Columbia-Willamette in your estate planning will not only provide long-term support for our community but will help you by reducing estate, gift, and current income taxes, or providing a steady source of income to you and your family.
If you are considering the best way to give to United Way of the Columbia-Willamette, we would be happy to work with you and your advisors to tailor a gift that meets your needs.
Janie Spurgeon, Director - Major and Planned Gifts
United Way recommends that you seek the advice of estate and tax professionals, such as attorneys, accountants, or financial advisors, in developing your estate plan. United Way cannot render tax or legal advice.
Did you know that by making a planned gift to United Way you can:
- Avoid or postpone capital gains tax.
- Make a deferred gift by including United Way in your will.
- Give yourself or someone you love a life income that may be more than your current investments are providing.
- Reduce gift and estate taxes on assets passing to your heirs.
- Avoid double taxation on IRA or retirement plan assets and U.S. savings bonds in your estate.
- Diversify your portfolio without incurring capital gains taxes on the sale of assets.
- Give United Way an interest in your home while continuing to live there, and receive an immediate income tax deduction.
Gain some insight into how to create a lasting legacy by reading this article from Ater Wynne Attorney and United Way Planned Giving Committee member, June M. Wiyrick Flores, who is knowledgeable in estate planning.
Knowing the right option and best asset to donate depends on your unique needs, goals, family situation, charitable interests, and assets.
You can make your gift with cash, appreciated securities, real estate, retirement plans and IRAs. In many cases, your gift can return substantial financial benefits to you. It also is now possible to pledge and give a percentage of your net profits, shares of company stock, or stock options in support of United Way of the Columbia-Willamette.
Our Planned Giving team can help you explore your options and then work with you and your own financial advisors to design a gift plan that meets your needs.
Janie Spurgeon, Director - Major and Planned Gifts
Giving cash, writing a check, or authorizing a charge to your credit card can put your money to work right away helping people in our community through United Way projects and provide you with an income tax deduction.
You can contribute stock that has appreciated in value to United Way, receive a tax deduction for the full market value of the stock, and eliminate capital gain taxes you would have incurred if you sold the stock. You must have held stocks at least one year to avoid capital gains taxes. If you own stock or other investments that have decreased in value, you could sell them and donate the proceeds. You may be able to deduct the loss from other income for additional tax savings. Together, the two deductions could actually be worth more than the current value of the investment.
You can give almost any type of real estate, including vacation homes, rental units, investment property and commercial property either as an outright gift, via a bequest in your will or living trust, or through a charitable gift annuity or charitable remainder trust. You can preserve your cash assets, receive significant tax and income advantages, and make a significant charitable gift. You can also give your existing home and retain the right to continue to live at the residence for the rest of your life.
Donating retirement assets is one of the best ways to make a charitable gift and avoid costly income and estate taxes for your heirs. Naming United Way as a beneficiary (or contingent beneficiary after the death of your spouse) of all or a specified percentage of your IRA, 401(k) or other retirement plan assets can save your estate both income and federal estate taxes.
You also may designate United Way as the sole, partial or contingent beneficiary of a life insurance policy - either a new policy or one you and your family no longer require.
One of the easiest planned gifts is to include United Way in your will or revocable living trust. You can make bequests for specific dollar amounts, a percentage of an estate, or for a remainder amount after other bequests are fulfilled. You can make this provision as part of a new will or add it to your existing plan as a codicil to your will or an amendment to your trust.
The language that you would use for your will or trust is:
"I hereby bequeath to the United Way of the Columbia-Willamette, located at 619 SW 11th Ave, Suite 300, Portland, OR 97205, [insert percentage of estate, dollar amount, or specifically described property] to be used for general purposes as determined by the board of directors."
If you need assistance with specific language to include in your will or trust, please check our website or call one of our planned giving professionals.
This is a flexible way to make a charitable gift and receive an income. Assets are placed in an irrevocable trust that provides you and/or your beneficiaries with an annual payment for life or a specific period of time. At the end of that time, the trust dissolves and United Way receives the remaining assets (charitable remainder).
Since each trust is individually tailored, there is more flexibility in the type of property that you can donate, including real estate, appreciated stock, tax-free municipal bonds, and works of art or antiques. Subject to certain IRS limitations, you decide the exact payout of the trust in consultation with the trustees you select. You can choose to receive a fixed dollar amount from the trust each year, or if you are concerned about the effects of inflation, you can choose to receive a fixed percentage of the trust assets as revalued each year.
This preserves a large portion of your estate and passes assets tax-free to yourself or to your heirs. The trust holds an income-producing asset for a fixed term, or your lifetime, during which time United Way receives income. At the conclusion of the trust term, the asset is returned to you or your beneficiary.
This type of trust is most often used when your primary goal is to receive a fixed income annually for life. In exchange for your gift to United Way, we agree to make payments for life, to you or to one or two individuals that you name. The payments usually begin immediately, but you also can defer them to a later date. The amount you receive depends upon the amount of the gift, your age now, and your age when the payments are scheduled to begin. You also will receive an income tax deduction for the year in which you make the gift. Income you receive is taxed as ordinary income in most cases.
Unless specifically requested by the donor, planned gifts will benefit the United Way Endowment Fund, a permanent and stable source of income for our community and United Way. Annual workplace campaigns, United Way's main source of funding, are vulnerable to changes in our region's economy. During times of economic slowdown or downturn, community needs increase while the community's capacity to give decreases. United Way will invest your planned gift in an endowment fund that will stabilize funding for community projects for many years to come.