Your Will . . . .Your Legacy
The WEDC Foundation is about creating legacies. Our vision is to create a legacy of accomplished and independent women who will share their energy and success. You can share in our vision through Legacy Giving by making a bequest to the WEDC Foundation in your will. Your lawyer can help you make a charitable bequest in your will.
Your bequest can be designated for general scholarships which are distributed in a specific school year or designated for investment WEDC Foundation Endowment. A bequest to the Endowment requires a minimum bequest of $10,000 to establish a scholarship fund in your name. Your bequest to the WEDC Foundation allows you to share in the future of the Foundation and the women it helps.
Your bequest can take on several forms: a specific dollar amount, a percent of your estate, a bequest of a specific asset or a contingency bequest. A contingency bequest specifies the circumstances under which a bequest will be made to the WEDC Foundation.
Consider Legacy Giving, it’s a way to changes lives for years to come.
Endowment Funds the Legacy As Women Honoring Women attendees and supporters, many of you have said to the WEDC Foundation: “Not only do we want to fund scholarships, we want to make sure that our donation CONTINUES to fund scholarships!” And that is why, in 2002, the Foundation established an endowment fund to provide a permanent financial base for the Foundation.
Since then, many generous donors have chosen to specifically earmark their contributions to the endowment fund. For a minimum donation of $10,000, which can be paid over a three year period, a memorial or honorary-named fund can be created.
How does this fund operate? The fund is invested conservatively and is managed by the WEDC Foundation committee. Then each year a portion of the interest earned is allocated to scholarships.
As Women Honoring Women 2008 unfolds, the Foundation would like to recognize our previous Endowment Donors who have made such a difference in solidifying our permanent financial base. These generous friends chose to believe in our Foundation, and its mission, at its very beginnings! Our named scholarship funds are:
Crestwood Hospital
Jean Wessel Templeton
Mrs. Pei Ling Chan (Donor Kathy Chan)
The Peters Family
Bhavani Kakani
Tyson / Bullock
Holly Brown Bama-Jammer Promotions Scholarship
Anne Cary Walker
WEDC Founders
For more information call us at 256-429-4718.
Gifting Strategies
Did you know a non-cash donation to WEDC Foundation cuts your tax bill?
Individual investors increasingly include charitable giving programs in their financial plans. Not only are these benefits to the Foundation, but philanthropic planning benefit the donor with various tax benefits the donor by presenting various tax benefits. Significant benefits accrue and when donated assets appreciate in value.
An example: Mr. and Mrs. Sample purchased stock XYZ in 1992 for $2,000. It is now worth $10,000. They would like to donate $10,000 to the WEDC Foundation. They could either write a check or donate an asset worth an equivalent amount. Assuming a 25% federal income tax bracket, let’s look at their options.
|
Option 1 Donate Cash |
Option 2 Sell Securities and then Donate Cash |
Option 3 Give Securities |
|
| Amount donated | $10,000 | $10,000 | $10,000 |
| Tax savings as a result of charitable gift | $2500 | $2500 | $2500 |
| Capital gains tax | n/a | $1500 paid | $1500 saved |
| Net tax savings | $2500 | $1000 | $4000 |
How can I make a non-cash donation to the WEDC Foundation?
To reduce capital gains, consider a gift of appreciated securities.
- Upgrading your portfolio? Donate appreciated, low-dividend paying stock. You may then wish to consider buying stocks that pay higher dividends using your cash.
- Give a security, yet keep it? When you want to increase your total cost basis in a stock you intend to hold, give your low basis securities to WEDC Foundation charity. Purchase more of the same stock at current market prices thereby increasing your cost basis without incurring any capital gains tax and reducing potential capital gains tax should the stock be sold in the future.
- Takeover imminent? Instead of tendering the securities, give them to the WEDC Foundation. The charity does not incur a capital gains tax when it tenders the security rather than you.
Note: The gift is complete on the date the transfer of property takes place; it is not complete when a donation letter of instruction is signed. It is complete only when the securities are received by WEDC Foundation. These financial matters can be complicated. Be sure to consult your financial advisor and tax and estate-planning professionals before making any gifts.
