Planned Giving Options
Become a member of the LEAP Legacy Society by including LEAP in your estate plans. Here are a few ways to do so:
Bequest: remember LEAP in your will
One of the simplest and most meaningful planned gifts is to remember LEAP in your will, where you can designate either a specific dollar amount or percentage of your estate to LEAP. Countless young LEAPers will benefit from your foresight to include LEAP in your will, and your generous gesture serves as an example of the values you hold dear.
Sample Language: “I give and bequeath to Leadership, Education, and Athletics in Partnership, Inc., a not-for-profit corporation, with principal offices presently located at 31 Jefferson Street, New Haven, CT, 06511, the sum of _____ (or _______% of my estate), to be used for the accomplishment of its general purpose.”
Retirement Plans: name LEAP as a beneficiary, or transfer directly
Naming LEAP as a beneficiary of your 401k, IRA, or other retirement accounts is incredibly impactful for your heirs and for LEAP. Retirement accounts that have grown tax-free over time are generally the most desirable assets for charitable giving, as they are taxable to heirs when inherited.
Additionally, with an IRA, you can donate up to $100,000 of your required minimum distribution (RMD) annually, if you are over 70 ½, directly to LEAP through a Qualified Charitable Distribution, reducing your adjusted gross income for tax and Medicare payment calculations.
Life Insurance: transfer ownership of a policy or make LEAP a beneficiary
Often overlooked as a method of planned giving, there are many ways for a life insurance policy to benefit LEAP. Adding LEAP as a beneficiary of your life insurance policy, transferring ownership of a paid-up life insurance policy to LEAP, or taking out a policy and making LEAP the owner and beneficiary will greatly benefit LEAP and the children we serve.
Charitable Trust: create income for yourself and transfer assets to LEAP later
A charitable trust arrangement will allow you to use your assets to create a stream of income for yourself or your beneficiaries. You can transfer the principal assets to LEAP once the trust has terminated, or you can name LEAP as a beneficiary of the generated income, and return the assets to your family after a specified number of years.
For more information or to talk further about a planned gift, please contact LEAP’s Director of Development, Rachel Kline Brown, at (203) 773-0770 or firstname.lastname@example.org. Please also consult your financial or legal advisor who understands your specific situation before making a planned gift.