Planned giving is a method of supporting not-for-profit entities that enables a donor to leave money or other assets to a not-for-profit organization at his/her death; or a way for a donor to structure financial affairs so that the donor receives benefit during his/her life and then donates the remaining funds to the not-for-profit. Interested donors should consult their attorney, accountant and/or financial professional to determine the best way to accomplish their philanthropic goals.
Bequests are the most common way to make lasting gifts. Interested donors may simply list INAgLaw as a beneficiary in their will or a trust. Sample will language is available upon request.
IRA, 401(k), or other qualified retirement plan assets may be used to leave a legacy simply by naming INAgLaw as a beneficiary or percentage beneficiary. Generally, these plans can have negative tax consequences if they are passed on to anyone other than a spouse.
Life insurance can be used as a planned gift by naming INAgLaw as a beneficiary or percentage beneficiary.
Donors can fill out the pledge form electronically.
Retained Life Estate
Donors can realize substantial tax benefits by gifting their farm (or residence) to INAgLaw while retaining the right to use the property for as long as they live. At the end of the donor's life, the property could be sold and the proceeds are used to fund the gift. This is called a retained life estate.
Contributions are tax deductible under Section 501(c)(3) of the Internal Revenue Code.