You can provide financial support to Camp Ondessonk during your lifetime and even beyond through thoughtful estate planning. Many planned gifts are arranged in a will or trust that go into effect after one’s death. There are flexible and convenient ways that will help you maximize your charitable gifts. Planned gifts come in many forms:
- Life income gifts
- Life insurance
- Charitable gift annuities
- Charitable IRA rollovers
- Other options
These planned gifts may be created through gifts that include cash, securities, real estate, and/or other items. Planned gifts may be unrestricted or restricted, and may provide benefits to the donor, their family, and to Camp Ondessonk.
Bequests are usually revocable, simple to implement, and easy to change. The bequest provision in your will or living trust should specify an amount or percentage of your estate to be transferred to Camp Ondessonk as the beneficiary. You may designate your bequest as unrestricted or restrict it to scholarship, capital project, or a specific program. Sample wording is provided in this document.
Life income gifts offer benefits to the individual and to Camp Ondessonk by providing current income to the donor and future funding for a designated project at Camp. Life income gifts include charitable gift annuities, charitable remainder trusts, charitable lead trusts, and others.
Life insurance may be given as a paid-up policy or by designating Camp Ondessonk as a beneficiary of an existing policy.
Charitable IRA rollover distribution to a non-profit organization was made permanent by the Protecting Americans from Tax Hikes (PATH) Act of 2015. This allows individuals who are 70 1/2 or older to transfer up to $100,000 ($200,000 per couple) of their IRA to a charity of their choice. Individuals should consult their tax advisor for the numerous benefits of this option.
While Camp Ondessonk does not provide legal or tax counsel, we will provide assistance to attorneys and tax advisors as they work with their clients.