Planned or Estate Giving

There are many reasons to consider a planned gift:

  • A planned gift helps you maximize the personal benefits of your charitable giving, while allowing you to make a gift that you may not otherwise think possible. 
  • Planned gifts are a way to make a significant gift, while enjoying the benefits of charitable incentives that have been placed in the federal tax laws. 
  • Planned gifts are a valuable tool for sharing your resources, while enhancing your financial situation and security.

Ways to Make Your Planned Gift

You can designate Northwest Federal Credit Union Foundation to receive any remaining assets on your individual retirement account (IRA) or other retirement plans while maintaining complete access to your retirement plan assets during your lifetime. Contact the custodian of your retirement account to update the beneficiary designations information on your account. 

For many people, a gift made through a will or trust is the way to make a major gift. This is particularly attractive if you are unable to make a significant gift at this time, but would like to contribute to the Foundation in a meaningful way. Property; including cash, stocks and bonds, jewelry, works of art, and real estate may be given through a will or trust. Through estate planning provisions, you may leave to the NWFCU Foundation a specific dollar amount (for example, $50,000), a certain percentage of the estate, or you can state that the NWFCU Foundation is to receive the residue of your estate after provisions for all other beneficiaries have been made. Your bequest may be made in honor of, or in memory of a loved one. All outright bequests to the NWFCU Foundation are tax deductible to the full extent of the law.

Gift annuities are a safe, dependable source of fixed income for donors. Gift annuities help to minimize your annual tax liability, but provide you with a charitable income tax deduction in the year of the gift. A Charitable Gift Annuity is simple to create, and can be established for amounts of $1,000 or more. 

Gifts of Appreciated Stocks, Mutual Funds and Bonds

Gifts of long-term appreciated securities have the same positive benefit to the Foundation as a gift of cash, but are more beneficial to you. Gifts of appreciated securities are an excellent source for creating a Charitable Gift Annuity.

A gift of long-term, appreciated stock saves time and money in three ways:

  • Your income taxes are reduced because of the charitable donation.
  • You avoid the capital gains tax that would have applied had you sold the shares yourself.
  • Stock giving can be convenient, especially when you have a few stocks that are “odds and ends” or fractional shares

A gift of a personal residence, farm, vacation home or other type of real estate can provide another way of making a donation to the NWFCU Foundation If you are considering leaving your house to the Foundation in your will, you might consider making the gift now, while retaining the right to live in your house for the rest of your life. This type of gift is called a "Retained Life Estate" and provides a significant current income tax deduction, without changing your lifestyle. Please note: potential gifts of real estate are evaluated on a case-by-case basis before being accepted.

A practical way of making a significant gift to the NWFCU Foundation is by irrevocably assigning a life insurance policy to the Foundation - whether the policy is paid up, partially paid, or new. The tax benefits for this type of gift depend upon the status of the policy, at the time of the gift.

A charitable remainder trust is a personalized life income gift that provides you with lifetime income and a charitable income tax deduction. As the creator of the trust, you select the payout rate, and the trustee. If the trust is established with appreciated property, the related capital gains tax is avoided. When a Charitable Remainder Trust is created, the assets placed in the trust are removed from your estate, and are not subject to estate taxes. After your death, the remainder of the trust is then distributed to the NWFCU Foundation. We would be happy to provide you with sample language, tax calculations, and informational literature. Since our information and calculations are only intended to serve as a general guide, we would be very happy to meet with you and your advisor by phone, or in person.