Planned Giving
photo by ron cooper
Planned giving supports the preservation of historical buildings and ongoing educational opportunities for the community.
Here are some benefits to giving!
- Transform one of your valuable assets—such as a vacation home, rental property, or stock holdings—into a source of income for yourself or your family
- Avoid paying capital gains taxes that would apply if you sold the asset
- Receive a significant income tax deduction in the year of the transfer
- Reduce the value of the asset from your estate
- And, in the end, make a larger contribution to the Willamette Heritage Center’s future than you ever thought possible!
Deferred gifts (also known as “life income gifts” or “planned gifts”) can help secure the Willamette Heritage Center’s long-term success while providing you and your estate with valuable benefits.
Reach out to learn more about how you can get started with these gift options. We’re here to guide you!
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TYPE of Deferred Gift |
What if my (our) financial circumstances change?
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Can I arrange for income to be paid to me or others during life?
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Are there tax benefits available?
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Bequest by will or living trust
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Revocable |
No |
Yes, to your estate |
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Life Insurance Beneficiary Designation |
Revocable |
No |
No |
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Transfer of Life Insurance Policy Ownership (including Beneficiary designation) |
Not revocable |
No |
Yes, income tax |
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Retirement Account Beneficiary Designation |
Revocable |
No |
Yes, to your estate |
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Charitable Gift Annuity |
Not revocable |
Yes |
Yes, income tax, capital gains tax, and estate tax |
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Charitable Remainder Trust |
Not revocable |
Yes, at least 5% annually |
Yes, income tax, capital gains tax, and estate tax |
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Retained Life Estate in Personal Residence |
Not revocable |
No, but you can live in the home as long as you like after transfer of ownership |
Yes, income tax, capital gains tax, and estate tax |
Tax benefits depend on your financial circumstances.
Please consult your tax and financial advisor to determine whether you can receive tax benefits.
Bequests for unrestricted purposes:
Unrestricted gifts are to be used for the greatest need at the time, to be determined by the Board. A general unrestricted bequest is especially valued by us.
- For a bequest of securities, the possible language is: “I give the Willamette Heritage Center, headquartered at 1313 Mill Street SE, Salem, Oregon, 97301, EIN 93-6031792, all of my shares of XYZ stock or mutual fund to be used for the benefit of WHC.”
- For a bequest of cash, the possible language is: “I give to the Willamette Heritage Center, headquartered at 1313 Mill Street SE, Salem, Oregon, 97301, EIN 93-6031792, the sum of (amount) to be used for the benefit of the Willamette Heritage Center.”
If you do not want to specify the exact amount or nature of the intended gift, perhaps because the size of the future estate is difficult to estimate, a proportional bequest is often the best way to accomplish your goals. We would receive a percentage of the estate or the residue of the estate, after all of the provisions have been met.
- For a percentage bequest, possible language is: “I give to the Willamette Heritage Center, headquartered at 1313 Mill Street SE, Salem, Oregon, 97301, EIN 93-6031792, (percent) of my estate, or (percent of the rest, residue and remainder) of my estate, to be used for the benefit of the Willamette Heritage Center.”
If you have any questions or would like to discuss planned giving, please contact Michelle Cordova at michellec@willametteheritage.org or at 503-585-7012. Thank you for considering the Willamette Heritage Center in your plans for the future!