what does “legacy” mean to you?
That may feel like a daunting question. The word legacy can hold weighty expectations.
But like many things, the definition is more in the mind and eye of the beholder. Depending on who you ask, a legacy could mean anything from a: scholarship in one’s name, to a tradition or value carried forward by others, or perhaps it’s a coveted family recipe passed down through generations, it could even be specialty hospital wing named in one’s honor...and everything in between.
So what comes to mind when YOU think of a legacy?
Have you given thought to the kind of legacy YOU will want to leave? Have you had these conversations with your family? What is important enough to you, that having it carried on by others, is a priority?
Put simply, a “legacy gift” is: a planned future gift that designates some part of an individuals estate or will as a donation to an organization. And while that may be the formal definition, a legacy gift is much more than just money. For example, to the Women’s Fund legacy gifts have meant that we've been able to:
Give groups of high school-aged girls the opportunity to experience philanthropy, which can spark a lifelong interest in helping others.
Give two single moms an opportunity to have a home, support systems, and time, to carve a path out of generational poverty for themselves and their children. Which in turn has provided us with knowledge and a pattern that other non profits can model similar programs after to help more single moms.
Give awareness to and advocate for issues facing women and girls in our community through local research and impact studies we’ve funded.
Give countless grants to local nonprofits who use their expertise and skills to serve women and families in our area.
Give much more. This is a tiny glimpse of the immeasurable ways our legacy donors have contributed to bettering the lives of those we serve.
The work of the Women’s Fund isn’t quick work, or easy work, or even high-visibility work...it’s long-haul work. Our donors know that by supporting us, they support work that is rooted in identifying important needs and following those needs upstream as best we can. Then, through a variety of collaborative efforts it leads to positive change for the long term in the lives of local women and children.
Why do people donate after their gone? For many people, a legacy or planned gift, enables them to give a larger amount than their finances would’ve allowed during their life. Another benefit to legacy gifts, are the tax benefits that your surviving family receives. Planned, or legacy gifts can include: a will/trust, beneficiary designations in: securities, IRA/pension, life insurance, charity remainder trust (CRT), real estate, etc. We encourage anyone considering a planned gift, to have these important conversations with your financial advisors, to better understand the scope and scale of any legacy gift benefits.
Over 50% of the grants the Women’s Fund distributes is funded through legacy gifts. To say our work is greatly impacted by the generous legacies entrusted to us would be an understatement. If your interests include improving the lives of and empowering women, parents, families and children in our community - please consider the Women’s Fund as place to leave part of your legacy.
Contact our Exec. Director, Karlene Grabner to learn more about legacy gifts for the Women’s Fund.
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