Let’s go over why planned giving is important.
Supporting charities and nonprofit organizations that you have a deep connection to is something that is incredibly important. Usually, that support comes in the form of volunteering, advocating for the specific cause, or making a donation to fund important work. While cash donations are the most common form of giving, there’s another option that you may not be very familiar with: planned giving. So, what is planned giving and why is it important?
What Is Planned Giving?
Planned giving is when a donor makes a large charitable gift to a nonprofit organization or charity either during their lifetime or after they’ve passed. This gift is often part of their larger financial or estate plan, and is also referred to as legacy giving. As the term “legacy giving” suggests, this gift can ensure that an individual’s legacy carries on even after they are gone.
Why Is Planned Giving Important?
Planned giving is important because it allows donors to provide generous gifts to their favorite charities that they might not have been able to give during their lifetime. This is because there are a variety of options with planned giving, as donors can gift many different assets, including personal property, real estate, artwork, appreciated stock, life insurance, and more.
Many of these contributions benefit both the donor and the charity, since donating non-cash assets has tax benefits for the donor (or their estate) and also allows charities to receive the full value of the gift. This means charities and nonprofits get more of the critical assets they need to carry out their missions and help those who need it most.
At Rebuilding Together – Silicon Valley, we believe that everyone deserves to live in a safe and healthy home, so we help provide critical home repairs to over 600 clients per year, including to those who are aging in place. We rely on many different forms of support—like planned giving—to continue our essential work and the positive impact we have in these communities.
You can help us make a difference in these communities by donating to our cause today or you can learn more information about what your donations help us accomplish by watching Robert’s story!
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