Leave a Lasting Mark
Many donors make charitable giving a part of their estate plans. By doing so, they will be making a difference in their community for decades to come—even in perpetuity. In the meantime, they enjoy the peace of mind of managing their current assets.
By working with the Northwest North Dakota Community Foundation, you can:
Keep assets now and give generously later, through your estate
Know that your charitable wishes will always be honored
Care for your loved ones and still be able to give back to your community
Make a lasting impact that will convey your values to future generations
Ways to Give Later
The most popular way to give later is through a bequest in your will. It is easy to do and can enable you to use your assets while you are living.
By naming your fund or another fund at the Northwest North Dakota Community Foundation, as the beneficiary, you can be certain that grants will continue to support the causes and/or organizations of your choice.
When you make a bequest, you can leave a percentage of your estate, a fixed dollar amount, or a transfer of securities or other property.
Gifts of life insurance policies and IRA/retirement assets
Another popular way to give later is to name the Northwest North Dakota Community Foundation as a beneficiary of a life insurance policy or assets in an IRA or other retirement plan. This may avoid a tax burden for your heirs, since by leaving IRA/retirement plan assets to heirs, they will pay both estate and income taxes.
Charitable remainder trust
With this vehicle, you make a charitable gift to the Northwest North Dakota Community Foundation and receive income payments for life or for a fixed number of years. Based on the type of trust you select, annual income is based on a percentage of assets or is a fixed amount.
At the end of the income period, the remainder of the assets will be placed into a permanent fund of the Northwest North Dakota Community Foundation—either one you have already established or another fund at the Foundation. Grants will then be made that honor your charitable wishes.
Assets you can give
No matter how you give through your estate, you can give a wide variety of assets, including cash, appreciated securities, real estate, personal property, and business interests.