Creating A Legacy
WHAT DOES IT MEAN TO LEAVE A LEGACY GIFT?
Leaving a legacy gift means making a plan today to leave money to an organization or cause you care about in the future. This plan can be relatively simple and can be changed at any time.
Planned gifts are an opportunity for people from all income levels to leave a lasting impact on their community without changing their current lifestyle. There is no minimum amount to include an organization in your will and no out-of-pocket cost.
Why a Legacy Gift Through The Community Foundation?
By taking a little time today, you can contribute meaningfully for tomorrow. Writing an organization or cause you care about into your will helps ensure it has a more sustainable future.
The Community Foundation can accept complex assets such as appreciated stocks and real estate to create a fund that benefits organizations and causes of your choosing. If you’re interested in leaving a gift that more broadly benefits Lancaster County, a legacy gift can also go directly to the Community Foundation for general or specific use.
Additionally, leaving a gift through your will gives you the opportunity to pay tribute to a loved one or name a fund in honor of your family.
How Do You Leave A Gift?
Leaving a gift to an organization can be as simple or complex as you want it to be. Some examples:
- Naming an organization as an additional beneficiary on life insurance, employer-paid group life insurance, retirement, or IRA.
- Leaving a portion of your estate to an organization.
- Creating a charitable gift annuity (age 60 and up) at the Foundation.
- Listing the Community Foundation as the beneficiary of a trust.
Can I Name The Community Foundation In My Will?
This is one of the most popular and flexible ways to leave a gift for the community through the Foundation. When you name The Lancaster County Community Foundation in your will, Charitable Remainder Trust, Charitable Remainder Unitrust, or plan a gift through your life insurance, you will always have flexibility to make changes to the fund’s future granting plan. Revisions can be easily made through the Community Foundation without the need for you to update your will or financial documents.
You may arrange for the Community Foundation to receive:
- A specific dollar amount.
- Specified assets, such as stocks or securities, real estate, or tangible personal property.
- All, or a percentage of, the remainder of your estate after all obligations are met.
Please speak with a trusted attorney or financial advisor as you consider the best way to give.
Ready To Leave A Gift Now?
To Leave A Gift To The Community Foundation:
- Fill out a letter of intent to let us know more about how you’d like your gift used (gifts can be left for the benefit of an organization or cause of your choosing through the Foundation, or directly to the Foundation).
- Use the bequest language below in your will to direct a gift to the Community Foundation. Please speak with a trusted attorney or financial advisor as you consider the best way to give.
- Include the Community Foundation EIN number 20-0874857 in your plans as needed.
- I give and bequeath ____________________ [describe gift] to the Lancaster County Community Foundation (the “Foundation”) for general charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation the Foundation, all of which provisions are hereby incorporated by reference and conclusively assented to and adopted.
- The Fund hereby created shall be known as ________________________________ __________________ (“Fund”).
- The Fund shall be disbursed to support the charitable purposes identified by me and in the manner provided on file at the Lancaster County Community Foundation.
- It is intended that the Fund shall be a component part of the Foundation and that no term, covenant, or condition of the Fund shall affect the status of the Foundation as an entity that is a qualified charitable organization.
- Any term, covenant, or condition of the Fund which is determined by the Foundation to be inconsistent with such intent shall be void ab initio and shall be deemed amended, modified, or deleted so as to eliminate such inconsistency.
- If in the sole discretion of the board of directors of the Lancaster County Community Foundation, any suggested designation or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community or area served, the board of directors may redirect distributions to other charitable causes in the community.
- The Foundation shall charge the Fund to the extent sufficient for reasonable and proper compensation for services and expenses.
The 24 Club
When you leave a legacy gift through the Community Foundation, you become a part of The 24 Club, joining people across the county who are committed to giving towards the future of Lancaster.
Members of The 24 Club connect with the Community Foundation through yearly events, learning opportunities, and newsletters.
Calculate My Impact
Our planned giving calculators are easy to use.
These calculations are for illustration only and are based on the information you provide. The results do not obligate you in any way, and actual benefits may vary. Please speak with a trusted attorney or financial advisor as you consider the best way to give.
The Endowment Calculator will calculate an annual fund balance with projected investment earnings, the yearly amount that will support community benefit organizations and causes, and the cumulative gifts made over time to impact this extraordinary community. Enter your beginning contribution to see how your gift can make an impact in Lancaster County.
The Charitable Gift Annuity (CGA) Calculator is designed to provide you with an illustration of the income and tax benefits you may expect to start a CGA at the Community Foundation. Enter your information and see the impact your gift could make – and the annual income it could provide you. Learn more about CGAs.
Fund Forms And Resources
For nearly 100 years, we have provided support to help community members impact Lancaster County. We’re here to share our resources and expertise as you plan your giving.
Christa Shoreman & Susan Paul
“Our vision for Lancaster County includes a place for environmental education and a place of beauty.”
“I know that the Community Foundation will always be able to see value in something that some others can’t.”
Chip & Rebecca Cargas
“We like the idea of being part of a whole county of people thinking about our future. Our work is one piece in a bigger picture.”
What do you want to achieve with your giving? It’s a simple question with unlimited potential for impact. We work closely with individuals and families like you from across the county to amplify your impact in giving.
For Professional Advisors
Since 1924, generous community members and their trusted advisors have relied on the Lancaster County Community Foundation’s philanthropic knowledge and expertise to amplify their giving and positively impact this extraordinary community.