As human beings, we all have the capacity for empathy and compassion. When we see someone in need, our natural inclination is to want to help. However, sometimes we need a little push to take action and make a difference in someone's life.
Donating to charity is one of the most effective ways to help others and make a positive impact on the world. Here are some reasons why you should consider donating to charity today:
Now, you may be thinking, "I don't have much money to donate." But remember, every little bit helps. Even if you can only afford to give a few dollars, your donation will still make a positive impact. Every donation, no matter how small, can help create a ripple effect of positive change.
“What Is the Life Insurance Foundation Endowment?”
The Life Insurance Foundation Endowment (LIFE) Fund is a donor-advised fund of the Cleveland Foundation. It provides grants to charitable organizations that support family life in Greater Cleveland. Members of the Cleveland chapter of the National Association of Insurance and Financial Advisors (NAIFA) recommend charitable grants to be made from the fund. The Cleveland Foundation manages the fund, investing our gifts for prudent growth. Donors who contribute to the fund can be assured that their gifts will live on in perpetuity, helping us meet the community’s needs well into the future. Gifts to the fund are a source of revenue that, when coupled with our partnership with the Cleveland Foundation, provide a measure of security that allows us to focus on our mission. Donors have a wide variety of options for giving to the fund.
The Life Insurance Foundation Endowment (LIFE) Fund is concerned with developing, nurturing and sustaining quality of life for individuals, families and the entire Greater Cleveland community. LIFE is an extension of the life insurance community of Greater Cleveland and exists to expand the use of charitable life insurance for philanthropic purposes, in the belief that a loving and giving society assists those individuals who, through no fault of their own, fall victim to disease, poverty, government neglect and antisocial behavior. Further, LIFE believes that gifts endowed through life insurance and other assets demonstrate how a free and caring society can best serve its citizens and its community.
“How Will The Endowment Fund Help?”
The earnings from our permanent endowment fund can be used to support our mission and provide special programs and services. None of us can know what the future holds, but we do know that right now, our organization plays an essential role in our community. Because our endowment is permanent, it ensures that future generations will have access to the same quality programs and services we provide today. Your contributions to this permanent fund can help us meet our mission for many lives to come.
“How Can I Help the Life Insurance Foundation Endowment (LIFE) Fund?”
Cash or Stock Gifts – These gifts are simple to make and immediately effective. All cash contributions are tax-deductible (up to 50% of a donor’s adjusted gross income). Appreciated assets can include stocks, bonds, mutual funds and real property, and are tax-deductible up to 30% of adjusted gross income.
Bequest – An outright bequest to the fund is the simplest way to provide a future gift. Please contact NAIFA Cleveland for specific bequest language that can be included in your will or trust.
Charitable Gift Annuity – A gift annuity is an irrevocable gift that returns a stream of payments to the donor or another beneficiary, based on the recipient’s age at the time the gift was made. The donor qualifies for a charitable tax deduction for part of the gift, while the payments may receive favorable tax treatment. Most importantly, the gift annuity will substantially help meet the future needs of the LIFE Fund.
Life Insurance Policy – Unused life insurance policies make excellent charitable gifts. Please contact NAIFA Cleveland for more information.
Charitable Remainder Trust – Charitable remainder trusts allow donors to make gifts using payment options that best meet their needs. Additionally, remainder trusts are flexible enough to permit the use of a variety of assets including cash, securities and real property. Donors qualify for a charitable deduction for part of the gift, and trust beneficiaries receive a percentage of the trust returned to them annually. The payments also may offer some tax benefit to the recipient.
Charitable Lead Trust – Through charitable lead trusts, donors can support the charitable needs of the LIFE Fund now, and the remaining assets can be transferred to other individuals or even to themselves at a future date. Assets in the lead trust would come to the LIFE Fund for a fixed number of years or over a donor’s lifetime. When payments are no longer being made to the LIFE Fund, the remainder can be returned to a beneficiary or beneficiaries with possible tax advantages. Your gift today can have an impact on the lives of others for generations to come. Please consider how you might create a legacy through the LIFE Fund.
NAIFA Cleveland is a 501(c)6 non-profit organization.