Legacy Society Communit y Foundation for the Alleghe nies
You ... have worked hard, saved carefully, planned well.
As you consider the rest of your life, what w ill your legacy be? The Community Foundation for the Alleghenies gratefully acknowledges the members of the Legacy Society, which recognizes people who plan to leave a gift to the Community Foundation in their wills or estate plans to support what they care about in our community. Thank you for your interest in becoming a part of this community minded group.
Our Mission To serve the best interests of our donors in perpetuating their philanthropic interest in financially supporting our community, using the Foundation’s integrity, accountability, and community knowledge.
Please Contact www.cfalleghenies.org 116 Market St., Suite 4, Johnstown, PA 15901 814.536.7741
Carol Stern, Assistant Director & Donor Services, cstern@cfalleghenies.org Mike Kane, President & Executive Director, mkane@cfalleghenies.org
Commonly Asked Questions About Bequests Is it easy to add a charitable gift to my will?
What if I don’t have a will?
Yes. Nothing could be simpler. A short phone call to your lawyer does the job.
A surprising number of people — even those with substantial assets — never get around to this essential task. When a person dies without a will, the law determines how to divide up the assets in the estate. With a will, you assert full control: your written wishes dictate exactly how and to whom your assets will be distributed.
How much should I leave?
You can leave any amount to go to an existing fund at the Foundation. But if you wish, you can establish your own fund for whatever charitable purpose you desire (e.g., for scholarships, healthcare, literacy, youth, the environment, to help specific charities or to be used for grants to address community needs).
Will $25,000 be enough to make a difference?
A $25,000 endowed fund will yield over $1,000 in income for grants and/or scholarships. This amount may seem modest but your fund is permanent. It will grow over time, as will the money available for grants and/or scholarships.
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Legacy Society
Commonly Asked Questions About Bequests Charities may occasionally go out of business or merge, but your philanthropy will never become obsolete. We will seek to honor the intent of your gift, no matter what changes occur in the charity landscape.
What if I leave a gift to help a specific charity and then that charity disappears?
Can my bequest help charities that are outside of our region?
Absolutely. Your fund can benefit public charities all over the United States.
Do I have to leave a specific dollar amount as a bequest?
While you can name a specific dollar amount in your will you can also arrange to leave a percentage of your estate’s value or the residual of your estate after other gifts are made. We welcome gifts of any size.
My father used to say, “You can spend a lot of time making money. The tough time comes when you have to give it away properly.” How to give something back, that’s the tough part in life. — Lee Iacocca
Does my bequest gift have to be cash?
No. You have several options: Physical assets (a home or building) Financial investments (stocks, bonds) A life insurance policy or retirement plan. Oil, coal or gas leases.
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Legacy Society Community Foundation for the Alleghenies
Your Community Foundation – benefiting the region every day, forever.
Is there a charity or cause you would like to benefit using a gift in your will? We can help in 3 easy steps! 1. In your will, tell us how you wish the money in your fund to be used. Is there a certain charity or specific cause that you’d like to benefit? Or are you leaving an “unrestricted gift” that can help meet any community problem? 2. In your will, tell us what you would like to call your fund. Remember: you are creating a permanent legacy in that name. A hundred years from now, your fund will still be making gifts in whatever name you choose: a family name, the name of a dear friend, a favorite teacher or mentor, or anyone you wish to honor. Some donors set up multiple funds to honor a variety of people. You can also set up an anonymous fund, if you prefer. 3. Set a specific amount for your bequest or a percentage of the estate or asset. For example, your will might say, “I give, devise, and bequeath (here you would insert a dollar amount, a percentage or the rest and residue of your estate) to the Community Foundation for the Alleghenies, a Pennsylvania public nonprofit organization authorized to accept, hold and administer charitable funds. This gift should be used to establish an unrestricted fund (or other type of your choice). This will be a component fund of the Community Foundation for the Alleghenies. The Fund shall be named ‘The __________________ Fund.’ ”
www.cfalleghenies.org 116 Market St., Suite 4, Johnstown, PA 15901 814.536.7741