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Leave a legacy
Naming the Community Foundation as a beneficiary in a will or estate plan is simple. A fund agreement can be created ahead of time so that your clients’ specific and direct charitable wishes are followed. Agreements can be revised or changed at any time by your client. Language in your client’s will can mention a signed fund agreement.
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“My bequest shall be placed in the (name of the fund) Fund held at the Community
Foundation of Snohomish County, a nonprofit corporation of the State of Washington,
TAX ID/EIN # 94 3188703. Once placed in the aforementioned fund, the bequest will be used in accordance with the signed fund agreement on file with Community Foundation
of Snohomish County.”
You can even specify the type of fund you’d like to create:
1. Area of Interest Fund
“This gift shall be used to create a fund to be known as the __________________ Fund, the income of which shall be devoted to the support of ______________(name particular charitable purpose/geographic area or audience focus)____________and so distributed according to the judgment of the Board of Directors of the Community Foundation of Snohomish County.”
2. Designated Fund
When your client wants to create a charitable fund that supports specific nonprofits.
“This gift shall be used to create a fund to be known as the ________ (name the fund) ________________ Fund, the income of which shall be devoted to the support of ______________(name specific nonprofit)____________for the purpose of _____(describe purpose if any)_________.”
3. Donor Advised Fund
“This gift shall be used to create a fund to be known as the _____ (name the fund) _____Fund. ____(name specific people who will be advisors to make grants from this fund)______.”
4. Greatest Need/Unrestricted:
When your client wants to keep it simple and rely on the Community Foundation to make decisions about how the gift is used.
“I give to the Community Foundation of Snohomish County, a nonprofit corporation
of the State of Washington, TAX ID/EIN # 94-3188703 the sum of
$__________________to be used for greatest needs.”
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Gift the remainder of an estate
“I give to the Community Foundation of Snohomish
County, a nonprofit corporation of the State of Washington, TAX ID/EIN # 94-3188703 all or ___________% of the rest, residue, and remainder of my estate to be used for its general use and purposes.”
Whether your client wants to support charitable causes while they are alive, or leave a legacy after they are gone, the Community Foundation can help.
Want to leave an inheritance to your kids too? You can do both. Designate that just a % of your estate or the remainder will go to charity.
Create a charitable fund and support a favorite charity or charities with grants made from your fund after you are gone.
Leave a legacy. Start a fund with as little as $5,000 and begin making grants immediately to the charities you love. Build your endowed fund to a minimum of $25,000 within 5 years and see your gifts make a lasting impact in your community for generations.
Receive immediate tax savings through gifts of cash, stock or a variety of other assets. Decide over time where to give with a community foundation donor advised fund.
