Planned Giving

Honor the past, influence the future. Legacy Society members are individuals who have formally notified us of their intention to make a planned gift to Community Foundation. Legacy Society donors provide so much (examples below) to perpetually benefit Tompkins County. Members have the joy of being honored now knowing they will help local communities thrive in the future. Legacy Society donors make often larger gifts than they could make from their income.

Who is giving? Go to this Link. We are very grateful for the deep commitment from each Legacy Society member.

Planned gifts include bequest intentions in a will, life income agreements including Pooled Income Funds, trusts, real estate with retained life use or without, retirement funds and life insurance designating the Community Foundation as beneficiary. A matrix below explains a little more about how you can support us and other charities to solve issues that are important to you.

Your gift doesn’t have to be cash.  Assets of stock, bonds, life insurances, IRA proceeds, real estate, shares of closely held businesses, and more offer tax advantages than giving cash.

Sample Gift Language

Suggested Memorandum of Understanding Template

Examples of Gifts that Match Your Goals

  Financial Goal Then You Can And Your Benefits Are  
  Support the Tompkins County community Put a bequest in your will to benefit the Annual Fund, Tompkins Today & Tomorrow Fund or a Field of Interest Fund of the Community Foundation Your generosity benefits Tompkins County forever as the community changes and new needs emerge. The Community Foundation can manage your bequest to address these issues; you receive estate tax deductions and keep your assets in your name during your lifetime.  
  Prioritizing heirs’ inheritance while benefiting the Community Foundation and Tompkins County Name the Community Foundation as a beneficiary of your retirement plan; leave other assets to your family Reduced estate and income tax.  
  Secure a life income while minimizing taxes Establish a Pooled Income Fund or Charitable Remainder Trust with the Community Foundation Income for life (or two lives), immediate tax benefits and often a boosted rate of return from assets.  
  Reduce gift and estate taxes on assets you pass to your children and grandchildren Create a Charitable Lead Trust that pays income to the Community Foundation for a specific term of years A gift or estate tax deduction. Your family keeps the assets.  
  Make a large gift with little or no cost Give a life insurance policy you no longer need Current and future income tax deductions  
  Make a revocable gift during your lifetime Name the Community Foundation as the beneficiary of assets in a living trust Full control of the trust and its assets during your lifetime  

Downloads

Downloads

quote Kurt Vonnegut

What should young people do with their lives today? Many things, obviously. But the most daring thing is to create stable communities in which the terrible disease of loneliness can be cured.