Create a Legacy with Planned Giving
Planning a gift to Fostering Hope can help local youth in foster care for decades to come.
Every gift has a profound impact.
Whether your gift is $5,000 or $500,000, your gift makes a real difference in the lives of our youth.
What is Planned Giving?
It’s easy.
Helping youth can be as simple as adding a sentence to your existing will or adding Fostering Hope on a beneficiary form.
You have flexibility.
Your gift can be a percentage so it remains in proportion to other desires you wish to fulfill. It can also come to Fostering Hope only after your other needs are met.
You have options.
Your gift can be unrestricted, placed in our endowment, fund a specific program, or used as a tribute to a family member.
You may realize tax benefits.
Gifts of appreciated stock also help to avoid capital gains and are accepted by Fostering Hope
Options for Planned Giving
Bequest by Will or Trust
The simplest way to make a legacy gift to Fostering Hope is to make a bequest through your will of trust. Sample Bequest Language: “I give, devise and bequeath the sum of $______ (or describe the percentage of estate or specific asset/type of property you wish to give) to Fostering Hope (Tax ID: 46-2552438), whose legal address is 5351 C Naiman Parkway Cleveland, OH 44139, for its unrestricted general use and purposes.”
Life Insurance
Consider naming Fostering Hope as a beneficiary of a life insurance policy. You can do so in the following ways:
You can irrevocably name Fostering Hope as the owner and beneficiary of an existing policy.
Choose to name Fostering Hope as the beneficiary of a life insurance policy you continue to own.
Talk to Fostering Hope about establishing a new life insurance policy that meets your charitable goals.
Retirement Plan
Naming Fostering Hope as a beneficiary of your retirement plan, such as IRA, Keogh, 401(k), and 403(b), is an opportunity to avoid income and estate tax penalties while benefiting the community. Since these assets are the most heavily taxed, you could benefit your heirs by transferring them to a tax-exempt organization and leaving other assets not subject to income tax to your heirs.
IRA Charitable Rollover
Another planned giving option for supporters 70.5 or older is to give a tax-free gift directly from your IRA of up to $100,000 per owner per year. You can use your gift to satisfy all or part of the required minimum distribution. Since it doesn’t count as income, it can reduce your annual income level.