Charitable Gifts and Planned Giving
"The way you get meaning into your life is to devote yourself to loving others, devote yourself to your community around you, and devote yourself to creating something that gives you purpose and meaning." - Mitch Albom
Planned giving is a way to "leave your legacy." CLASS welcomes all types of gifts and bequests to support its many services. Below are some examples that can assist you in determining the most appropriate way for you to leave your legacy to CLASS.
- Bequests are the transfers of wealth that occur upon a donor's death and that include transfers by means of a will or a trust. Bequests to CLASS can take several forms such as:
- Specific Bequest - A specific dollar amount, percentage of estate, or property can be designated in your will to go to CLASS.
- Residual Bequest - After the estate has paid all expenses, debts and taxes and honored all specific bequests, the remaining amount would be transferred to CLASS.
- Contingent Bequest - Under certain circumstances, CLASS would receive all or a portion of your estate.
The following types of gifts can also be made:
- Charitable gift annuity - CLASS, in exchange for an irrevocable gift, will pay a fixed dollar amount during the life of the donor or designated other. The amount that is received is determined by many factors including age of donor, age of beneficiaries, and size of the gift.
- Pooled income fund - CLASS receives a gift from you in money or securities which are invested together with similar gifts from other donors. The donor will continue to receive a proportionate share from the income for the rest of the donor's life.
- Charitable remainder trust - CLASS receives cash, securities or other property from the donor. In return, UCP returns a percentage of income based on the gift value.
- Charitable remainder annuity trust - CLASS receives an irrevocable transfer of the donor's money in return for a fixed amount of money to be given to the donor annually for life.
- Revocable trust - This option is for donors who want to be flexible, to give a gift with a variety of assets, and to have the option to take back the gift. This gift would give CLASS money after it has provided income to the donor or designated loved one for life.
- Gifts of Insurance - If an existing insurance policy is no longer needed, CLASS can be assigned as the beneficiary.
- Endowment- CLASS is the 12th largest Pittsburgh-Area Health and Social Service nonprofit organization. However, they are also one of the few organizations without an endowment. An endowment is a fund created in support of the work of a particular nonprofit organization. Please help CLASS continue Working Toward A Community Where Each Belongs by making a contribution that will support establishing an endowment fund.
For more information about Charitable Gifts & Planned Giving, please contact your lawyer, financial planner, or CLASS' Development Director at 412.683.7100, 1.888.954.2454, or via our online contact form.