For some supporters, generosity is not only about giving in the present time. For some, it’s about ensuring the values and legacies that are important to them endure for many years to come.
This is where planned giving comes in! Planned giving refers to a range of charitable strategies that allow individuals to make meaningful gifts while also integrating those plans into their overall financial planning picture. These options typically provide flexibility, financial security, and long-term impact; sometimes all at the same time.
One example is a charitable giving annuity, a simple agreement typically administered through a third-party provider. The provider creates an annuity fund that is funded by the donor, which would then distribute an annuity payment to the donor that would last until the end of their life. Afterwards, the remaining funds would go towards the charitable mission they chose to support, like the IMSA Fund for Advancement of Education.
While gift annuities are popular, they are just one possibility from a long list of planned giving options. Some other common planned giving tools would include items such as:
- Naming the IMSA Fund for Advancement of Education as a beneficiary of a will or trust
- Designating the IMSA Fund as a beneficiary of a retirement account or life insurance policy
- Creating charitable remainder/lead trusts that help provide retirement income
Planned giving isn’t just reserved for a select group of people; in many cases it simply begins with a conversation and exploring how your long-term generosity can be structured to fit naturally into your personal financial plan.
For those who believe in the value of education, opportunity, and the power of institutions like IMSA, planned giving offers a way to ensure those values continue for many generations to come.
If you’re curious about what options are available to you, we encourage you to speak with your financial advisors about ways to align your goals. If you have questions around how your charitable intentions can benefit IMSA for generations to come, please email Cesar Patino, cpatino@imsa.edu.