Planning Your Gifts to ICI
Thank you for considering a planned gift to Inner City Impact. Planned gifts can take several forms and all leave a lasting impact on under-resourced inner city children. Included below is a brief description of several types of planned gifts. We are always willing and eager to discuss more details and next steps with you.
Benefits of a planned gift:
- Receive an estate tax charitable deduction
- Reduce the tax burden on your family
- Make an eternal impact
Types of planned gifts and how they work:
Bequests – ICI will provide additional information to you and your attorney who will include language in your Last Will and Testament, Trust or Estate Plan that leaves either a total dollar value or percentage of the remainder of your estate to ICI.
Beneficiary of a retirement account (IRA) or life insurance – Giving out of an IRA account has significant tax benefits. Gifts made from your IRA account are not considered taxable income. The financial institution that holds your IRA can arrange charitable rollover procedures at your request.
Charitable Gift Annuities – When you make a CGA gift, part of the initial gift is tax deductible, and then you receive fixed annuity payments each year for the remainder of your life.
Gift of an Asset (Land, Stock, etc.) – A regional representative from the NCF (see below). will connect with you about how to convert assets in a way that has the greatest benefit for both you and ICI.
Create a charitable remainder trust or Legacy Fund (donor advised fund) A charitable remainder trust reduces taxable income of individuals by disbursing income to beneficiaries chosen by the fund creator. After the specified time frame, the remainder of the fund is donated to ICI.
A Legacy Fund ensures that your giving intent and granting desires are carried out faithfully, either during or after your lifetime. It can be used to train children or grandchildren in giving today, and it provides an innovative way to establish security, permanence, and accountability after you’re gone.
Our Partner – National Christian Foundation
In order to facilitate planned gifts, ICI partners with the National Christian Foundation (NCF). For decades the NCF has inspired biblical generosity by providing donors like you with the knowledge and tools to support ministries like ICI in the way that best fits your situation. A local representative from the National Christian Foundation can connect with you about how to maximize your impact to ICI and the tax benefits for you.
Contacts
ICI – Jason Strietzel – Director of Development – jstrietzel@innercityimpact.org – (773) 384-4200 X229
National Christian Foundation – Missy Mols – Director of Giver Services – mmols@ncfgiving.com – (847) 607-9569
