A legacy gift is a planned future donation to a charity, given through a will, trust or other form of designation. Making a legacy gift as a part of one’s own financial planning process takes into account charitable wishes and values. Non-profit organizations like The Friends of the Portage Zhang Senior Center welcome legacy gifts as such gifts often recognize long-term relations while also helping to create funds for use by future seniors.
Many different reasons move someone to create a legacy gift. For some, it’s a way to ensure that their memory, or the memory of a loved one, lives on into the future. For others, it’s a way to ensure that The Portage Zhang Senior Center will continue as a strong and sustainable organization dedicated to seniors. A legacy gift can also be a very practical addition to a financial or estate plan as tax benefits are available for some gifts.
What better way to thank an organization that has had an impact on enhancing your life, or the life of someone you love, than by making a legacy gift a part of your estate plans? By creating a legacy, you are making a significant contribution to the sustainability of the work that is most meaningful to you and one that will impact future seniors.
A legacy gift can be in many different forms. You can make a dollar or a percentage contribution on your will or trust agreement. You can name The Friends of the Portage Zhang Senior Center as a beneficiary on a life insurance policy or a bank account. A gift can be split between two parties–a charitable organization like the Friends and relatives– so that one party receives income for a number of years and the other receives the asset at the end of the term or after a person’s death. Currently, the FPZSC has an Endowment Fund established through Kalamazoo Community Foundation. For more information on the Endowment Fund, please visit our Endowment Page. Anyone, regardless of their wealth, can make a legacy gift, and all are appreciated and recognized by the Friends. A financial advisor or attorney will be able to help you properly set up a legacy gift.
