Legacy | Planned Giving
There are so many ways to leave a lasting legacy: bequests through will or living trust; beneficiary designation; memorial and tribute gifts; charitable lead trusts; charitable gift annuities; charitable remainder trusts; and IRA charitable rollovers. We're here to help your legacy touch lives profoundly.
Beneficiary Designation
Update With a Simple Form
Designating a charitable cause as your beneficiary simplifies your planning, supports something you care about, reduces family tax burden and permits an estate tax charitable deduction.
You can declare a beneficiary on any of the instruments below by completing a change-of-beneficiary form available from your policy administrator or financial firm's website.
DID YOU KNOW? Leaving an IRA to a family member can incur significant additional income tax for the heir. Leaving it to a 501(c)(3) non-profit like CHF preserves the entire value of the account. It is not reduced by income tax.
Sample Language for a Will
Legacy in One Sentence
To leave most of your estate to loved ones, name CHF the beneficiary of a specific amount or percentage. To leave CHF the remainder after loves ones are provided for, use a residuary bequest. To leave your estate to loved ones, unless you outlive one or more heirs, use a contingent bequest.
Give a Percentage
I give and bequeath to Clark Hulings Foundation (of 1012 Placita Don Andres, Santa Fe, NM 87501) for its general charitable purposes an amount equal to _____% of my gross estate, as finally determined for federal estate tax purposes.
Give an Amount
I give and bequeath to Clark Hulings Foundation (of 1012 Placita Don Andres, Santa Fe, NM 87501) the sum of $_________ for its general charitable purposes.
Give Remainder of Estate
All [or ___% of] the residue of my estate, including real and personal property, I give, devise and bequeath to Clark Hulings Foundation (of 1012 Placita Don Andres, Santa Fe, NM 87501) for its general charitable purposes.
Contingent Gift
In the event that any of the above-named beneficiaries predeceases me, or that any of the above bequests shall otherwise not be effective, I give, devise and bequeath that share in question to Clark Hulings Foundation (of 1012 Placita Don Andres, Santa Fe, NM 87501) for its general charitable purposes.
Property of Value
I give, devise and bequeath to Clark Hulings Foundation (of 1012 Placita Don Andres, Santa Fe, NM 87501) for its general charitable purposes my ______________________ (property, such as “1000 shares of ABC Corporation” or “my 12 x 18 Persian rug”).
With a bequest from your will or living trust, you reduce your family's tax burden, are remembered in a lasting way, convey your values to those who survive you, and potentially receive estate tax savings.
Memorial & Tribute Gifts
Champion Their Values
A memorial gift honors the memory of a friend, colleague, or loved one, especially where their values align with CHF's or they've been influenced or helped by CHF's mission, vision, and activities. A tribute gift (in someone's name) is similar but extends that honor while they're alive. Both types of gifts are tax-deductible. Contact donor support to set up a memorial or tribute gift.
In Memory Of Stephen Zimmerman
We are so saddened by the passing of Stephen Zimmerman, art collector and champion of the arts extraordinaire, CHF Founding Board Member, wonderful friend and human being. To make a contribution to the memorial being established in his honor, use the form above or send a check to the address below—putting “In Memory Of” in the memo line.
If you'd prefer to mail a check:
The Clark Hulings Foundation
1012 Placita Don Andres
Santa Fe, NM 87501
IRA Charitable Rollover
See the Difference You're Making Today
From age 70 1/2, you can give gifts of any amount (tax-free up to a maximum of $100,000) per year as a charitable rollover (or 'qualified charitable distribution') from your IRA directly to a qualified charity like CHF. You do not pay income taxes on the transferred funds, so they are not subject to the deduction limits on charitable gifts, since they are not taken as a deduction from taxable income. To initiate a charitable rollover, contact your IRA administrator, and let CHF know, so we can follow up and share our gratitude.
From age 72, your gift can serve to satisfy all or part of your required minimum distribution (RMD). You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions. Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Charitable Trusts
Impact and Income Together
Charitable Lead Trust
Impact now; family long-term. Transfer cash or assets (e.g. closely held stock or cash appreciated securities) to a trust you create that makes payments to CHF for a period of time. When that term is up, the remaining trust passes to your family or other beneficiaries.
There are two types: An annuity trust pays CHF a fixed amount each year, regardless of fluctuations in the underlying investments. A unitrust pays CHF a variable amount based on a fixed percentage of the fair market value of the trust assets. Payments go up or down based on annual calculation of the trust's value (the value of underlying assets).
Charitable Remainder Trust
Receive income annually. The remainder trust provides you or other named individuals income each year for life (or a period not exceeding 20 years) from assets you give to the trust you create. At the end of the trust term, the balance in the trust goes to CHF.
There are two types: An annuity trust pays you a fixed amount each year, regardless of fluctuations in the underlying investments. A unitrust pays you a variable amount based on a fixed percentage of the fair market value of the trust assets. Payments go up or down based on annual calculation of the trust's value (the value of underlying assets).
