Many people plan to make charitable gifts--someday, when they can afford it. Unfortunately, good intentions don't always carry us to our goals. Gift planning is a thoughtful strategy that may allow you to make the gift of your choice while benefiting your personal finances. Gift planning can work in your favor when it comes to paying taxes on income, capital gains, gifts, an inheritance, and your estate.
There are several gift arrangements to consider:
A bequest in your will or trust is an easy way to provide for family while also helping to secure the College’s future. If you are considering a bequest to ACOG, here is some suggested wording to take to your attorney:
After fulfilling all other specific provisions, I give, devise and bequeath ___% of the remainder (or $___) of my estate to the American College of Obstetricians and Gynecologists, a charitable corporation (Tax ID #32217981) currently having offices at 409 12th Street SW, Washington, DC 20024"
Donate Appreciated Securities
You can bequest gifts of stock now or in your estate plans.
You can make the College a beneficiary of a life insurance policy.
For those who are 70 ½ or older, consider making a gift to ACOG from your IRA. You can make tax-free gifts up to $100,000 per person, per year ($200,000 for couples). By giving directly from your IRA, you won’t increase your adjusted gross income and possibly subject your Social Security income to a higher level of taxation.
A second option is to make the College a beneficiary of a specific amount or percentage of your retirement plan assets.
The Legacy Society is a special group of donors like you, who wish to ensure that our work continues for many generations.
We are grateful to all those who include the College in their estate plans. Some provide additional details about their intentions, in effect “documenting” their generous future gifts. Here are some reasons why bequest donors should consider doing this.
Documenting your bequest will allow the College to recognize you now for your future gift.
Peace of Mind
Providing details about your bequest will help ensure that your wishes are met.
Encourage others with your generosity with your public show of support.
Please understand that by documenting your bequest, you are in no way making your bequest binding or irrevocable. You still have the ability to revise your estate plan if your circumstances change, although we do ask that you notify us as a courtesy if that happens.
Contact: As with all decisions related to your estate planning, we encourage you to work with your financial advisor and planned giving attorney when considering a gift to the College. For more information, contact Kathleen Kenny at firstname.lastname@example.org or at 202-863-2479.
Additional news can be found in our semi-annual Legacies newsletter. If you’re not already receiving your complimentary issues and would like to be placed on the mailing list, please contact Kathleen Kenny at email@example.com.
Two years ago when I started rewriting the next chapter of my life story, I began looking more closely at the things that were bringing the most meaning and value to my life. One of those organizations rose to the top and that was ACOG. The relationships, opportunities and mentoring I have received through ACOG have helped shape my personal and professional life. Providing a future gift for ACOG is a way to give back, show my support and admiration for ACOG and the work they are doing now and for future generations.
- Robin Matthews, MD