Leave a Legacy | Donor Advised Charitable Funds
Plan Today, Ensure Tomorrow
Whether your goal is to address urgent needs in your community or permanently fund your favorite causes or organizations, Foundation For The Carolinas offers expert guidance, personalized service and local resources to help you establish a planned gift that ensures your charitable legacy.
How to Establish Your Planned Gift
Meet with the Foundation For The Carolinas team and your advisors to discuss your philanthropic goals. Together, we can explore how you envision helping your community, determine which assets you plan to give and discuss whether you would like to involve your family.
Explore Your Charitable Vision
Create Your Plan
Ensure Your Legacy
How To Get Started
The first step in planning your future legacy is to identify your values and goals. FFTC can help guide you as you identify your priorities and determine your giving philosophy and ultimate vision. For instance, you may wish to:
- Create an endowment for your children to manage
- Create a competitive grant program
- Support a favorite organization
- Support a cause or geographical location
- Create a scholarship program to help students attend higher education
- Leave unrestricted funds to FFTC to address urgent and evolving needs
FFTC's Strategic Giving Guidebook offers additional tools for defining your goals, crafting a plan and evaluating nonprofits.
FFTC Donor Advised Funds offer a flexible platform for legacy planning, providing you the opportunity to include family members as you build your philanthropic legacy.
FFTC Designated Funds support the good work of the nonprofits you designate, often in perpetuity.
FFTC Community Impact Funds provide permanent, strategic support for vital causes in our community. Entrust a portion of your charitable legacy plan to an endowed fund that aligns with your values, and leverage FFTC's discretionary grantmaking expertise and knowledge of local issues to make impactful investments in our community's future.
FFTC Scholarship Funds support students by providing grants for educational purposes and give you the ability to designate a specific academic discipline, institution or eligibility criteria.
FFTC Charitable Trusts are effective vehicles that provide income or assets for you or your family, while also creating a charitable legacy through a permanently endowed fund at FFTC.
FFTC Field of Interest Funds allow FFTC to use your gift to address the needs of a specific area of community life or geography and ensure that your charitable vision remains relevant over time.
An endowment is built to last.
Once an endowment reaches a set balance, the principal is maintained. By distributing grants from income or a carefully planned percentage, the fund will last in perpetuity, permanently supporting the community.
The Lucille Puette Giles Endowment Fund is a shining example of how one gift can go a long way, improving thousands of lives years after it was established. Created by a $35 million bequest in 1996, it has already resulted in over $50 million in grants helping children and youth, the environment, social capital and economic opportunity, and is in the position to continue this impact for years to come.
FFTC offers many tools to make your vision a reality, and you can customize a plan by dividing your gift into multiple funds to pursue different outcomes.
After providing for your family, you may wish to give a portion of your estate to an FFTC Donor Advised Fund for your children to manage. You can also give a portion to an FFTC Designated Fund that will provide grants to your favorite nonprofit. In addition, you may decide to give a portion to an FFTC Community Impact Fund to allow us to support evolving needs in our community.
Whatever your vision for the future of your community, a charitable fund at FFTC can help make it a reality. By completing the Planned Gift Document, you may name an existing FFTC fund in your estate plan or make arrangements for a fund to be established with a legacy gift upon your death.
Wills or Trusts: Include specific language in your will or trust naming a fund at FFTC as the beneficiary of a testamentary gift. You can specify a specific dollar amount, a percentage of your estate or the residue of your estate. Your estate receives a charitable deduction equal to the value of your gift.
Retirement Plan Assets: Name FFTC as the beneficiary of your retirement funds (e.g. IRA, 401(k) or 403(b) plans) to reduce or eliminate taxes completely and make a significant impact in your community.
Life Insurance Policies: Make a gift of life insurance either by irrevocably designating FFTC as the owner and beneficiary of the policy or by designating FFTC as a beneficiary of all or a portion of its proceeds.
Charitable Remainder Trusts: Make a future gift to a fund at FFTC while retaining income payments for yourself (and/or others) for life or a fixed number of years. You receive an immediate income tax charitable deduction in the year the gift is made or, in the case of testamentary CRTs, reduce your overall estate tax liability while benefiting the community and causes you care about in the future.
Charitable Lead Trusts: Make a current gift of income payments to your fund at FFTC while retaining the right for the principal to be returned to you (and/or others) upon your death or after a fixed number of years. You may receive a tax deduction and/or reduce your overall estate tax liability.
Information provided is general in nature. It is not intended to be, and should not be construed as, legal or tax advice. Foundation For The Carolinas does not provide legal or tax advice.
The following is sample bequest language that can be used to include a planned gift to Foundation For The Carolinas in your estate plan. Always consult your attorney before executing a new will or other estate planning document.
“I give to Foundation For The Carolinas, a North Carolina non-profit corporation, the sum of _________________ Dollars and no/100 ($______________.00), in cash or in kind, [could include a stated percentage or fraction of estate instead] for the benefit of [John and Jane Smith Endowed Fund], an endowed fund to be created pursuant to that certain fund agreement executed by me [and/or my spouse] during my/our lifetime(s).”
Please contact us if you or your attorney have any questions or would like to discuss your specific planned gift.
When you complete the Planned Gift Document, you will have the opportunity to tell your story for future generations. By sharing your motivations and values, future fund advisors and grantmaking boards will be able to honor your intent more accurately.
Our staff can also help facilitate the production of legacy videos and printed materials. Contact Sara Piner at email@example.com for more information.
Cabarrus Teacher Leaves a Lasting Gift
Earl Willie and his late wife, Margaret, were schoolteachers in Cabarrus County. In his estate plan, Earl left a planned gift to create a scholarship fund named in Margaret's honor and to permanently support the causes they cared about most.
Schoolteacher Makes Lasting Impact
Nell Rose Bates serves as a shining example of an unlikely philanthropist who created a unique and powerful legacy.
Entrepreneur Supports Animals
Charlotte businesswoman Katie Tyler works tirelessly to improve the lives of animals. That’s why she entrusted her community foundation with a planned gift.
Sisters Create Legacy Gift
Katherine and Jane McKay had no children of their own, so they chose to create planned gifts to support their community, their church, education, and animals.
The Art of Legacy
During their lifetimes, Donald and June Prigmore lovingly assembled an art collection and instilled in their daughter, Chris, a passion for the arts and a commitment to community. With her planned gift, Chris honors her parents' legacy and charts her own philanthropic path.
Have you already included Foundation For The Carolinas in your estate plan? Please be sure to let us know. 704.998.6412 or firstname.lastname@example.org