Legacy Giving and Tax Benefits: How Planned Giving Can Make Tax Day Easier

After filing your taxes, you may be looking for ways to maximize your tax benefits in the coming year while making a meaningful impact. Legacy giving provides an opportunity to support the causes you care about while also offering potential tax advantages. Whether you are considering a bequest, a charitable gift annuity, or a donor-advised fund, planned gifts can be a strategic way to align your financial and philanthropic goals.

There are many planned giving options that offer varied tax benefits. Three easy options are outlined below:

• Bequests: One of the simplest ways to leave a lasting legacy is through a bequest in your will or trust. A charitable bequest to an organization like Camp Ondessonk can reduce the taxable value of your estate, potentially lowering estate taxes for your heirs.
• Charitable Gift Annuities: A charitable gift annuity (CGA) allows you to make a gift while receiving fixed lifetime payments in return. This option provides an immediate tax deduction and can offer partially tax-free income.
• Donor-Advised Funds (DAFs): Contributing to a donor-advised fund allows you to receive an immediate tax deduction while having the flexibility to recommend grants to charities over time. DAFs are a great way to streamline charitable giving while maximizing tax benefits.

Now is an ideal time to review your estate plan and charitable giving strategies. Ensuring your estate plan aligns with your philanthropic goals can provide peace of mind while optimizing potential tax benefits. If you have already included Camp Ondessonk in your estate plans, we would love to acknowledge and thank you for your generosity.

Planned gifts help ensure that Camp Ondessonk continues to provide transformative outdoor experiences for future generations. By incorporating planned giving into your financial strategy, you can make a meaningful difference while enjoying potential tax savings.

If you would like to learn more about how planned giving can benefit you and Camp Ondessonk, please contact Whitney Strang, Director of Development, at 618-695-2489 x114 or whitney.strang@ondessonk.com today.

Click here to learn more about ways to give to Camp Ondessonk.