ATLANTA Gay & Lesbian
Community FOUNDATION
LEAVE A LASTING LEGACY
to ensure smarter giving, more effective nonprofits,
and a stronger community.
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| Planning a Legacy GiftA permanent or long-term LEGACY Fund in your name with The ATLANTA Gay & Lesbian Community FOUNDATION allows visionary donors to achieve lasting impact – and tax advantages. A named LEGACY FUND is like your own private foundation. You create it at any time through a one-time gift or a series of annual gifts. Gifts may be cash, stocks, or property. No bequest is too small. Your LEGACY Fund can be a Pooled Income Fund, a Charitable Gift Annuity, a Revocable Trust, a Charitable Remainder Annuity Trust, or other tax-advantaged instrument.< xml="true" ns="urn:schemas-microsoft-com:office:office" prefix="o" namespace=""> Funds are invested according to your wishes and supervised by an investment board. A Legacy Donor LEGACY FUND may be named after you, as a memorial for a loved one, or to commemorate an event or special occasion. FAQWHY? High impact philanthropy is both too important and too complex to conduct it without professional advice. As a donor to the Foundation you have the opportunity to work with the staff to guarantee that only appropriate nonprofit partners that share your focus and meet your fund requirements receive the benefits of your legacy philanthropy. The ATLANTA Gay & Lesbian Community FOUNDATION works to ensure your generosity has high impact by collaborating recipient organizations on developing sustainable capacity and by providing free technical assistance to accompany your cash award. WHO? Donors who value not only high impact and high standards but simplicity and leveraged giving will benefit most from establishing a Legacy Fund. The fund may be named after the donor, as a memorial for a loved one, or to commemorate an event or occasion. HOW? Give cash, stocks, insurance policies, or real property. Do it once or periodically. Chose any of these instruments: Pooled Income Fund, Charitable Gift Annuity, Revocable Trust, Charitable Remainder Annuity Trust, Unitrust, or Life Estate Agreement. Awards are made according to the guidelines establishing your fund. You may require that recipient organizations have a nondiscrimination policy, conduct vigorous program evaluation, work with efficiency, carefully track outcomes, strive for diversity, etc. WHERE? Donors are expected to make their largest contributions to organizations working in < xml="true" ns="urn:schemas-microsoft-com:office:smarttags" prefix="st1" namespace="">Georgia but may make gifts to any eligible nonprofit. WHEN? A Legacy Fund provides flexibility to receive a tax benefit when it is advantageous for you. Initial gifts and additional contributions to the Fund may be made in any amount and at any time. Distribution from the fund may occur at any time over the lifetime of the fund. Types of GiftsWILL & LIVING TRUSTS. Everyone needs a will unless you want the State of < xml="true" ns="urn:schemas-microsoft-com:office:smarttags" prefix="st1" namespace="">Georgia deciding who gets your cash, home, and other assets. You can immediately designate The Atlanta Gay & Lesbian Community Foundation as a sole or partial beneficiary in your will or living trust. Your gift may be a percentage of your estate, a fixed dollar amount, or a residual bequest (the amount left after specific gifts to your loved ones or other causes have been made). You can create a lasting legacy by adding this simple language as an amendment or codicil to your will: "I give the rest, residue, and remainder of my estate (or “I give $___,000” or “I give ___ percent of my estate”) to The Atlanta Gay & Lesbian Community Foundation, Inc., a non- profit organization in Atlanta, Georgia."
401K & LIFE INSURANCE While heirs may be required to pay taxes as high as 70%, The Atlanta Gay & Lesbian Community Foundation can receive all of your assets without taxation. GIFT ANNUITY is a contract between a visionary donor and the AGLC Foundation whereby in return for a transfer of cash, securities, property, or other asset, the Foundation pays out a fixed amount of money (payment) to one or two individuals, for their lifetime. CHARITABLE REMAINDER TRUST is established by a visionary donor (during your life or at death) through the irrevocable gift of highly appreciated stock or property (or other asset). The donor or his/her beneficiary receives a regular payment stream from the Trust. The Atlanta Gay & Lesbian Community Foundation receives the remaining assets at the end of the trust’s term. CHARITABLE LEAD TRUST provides the Foundation with fixed or variable regular payments from a trust established by a visionary donor. Assets that would otherwise be subject to hefty estate taxes are invested so that the income goes to The Atlanta Gay & Lesbian Community Foundation, offsetting much of the tax liability. After a period of years, the principal transfers back to your heir(s) with little or no tax owed. POOLED INCOME FUND is a mutual fund comprised of gifts that are pooled and invested by The Atlanta Gay & Lesbian Community Foundation. Income from the fund is distributed to both the fund's participants and named beneficiaries according to their share of the fund. You and the other income recipients receive quarterly payments for life, and upon your death the value of the assets will be transferred to The Atlanta Gay & Lesbian Community Foundation.
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