Legacy/Matching Gifts
A legacy gift, or planned gift, allows you to make a lasting impact on NAC’s mission by setting up a major gift that would be bestowed upon the organization after your passing.
Common Types of Legacy Gifts include:
- Bequests:
- A bequest is something that a donor gives a nonprofit through their will, whether that be cash, property, stocks, or a portion of their estate. This is the most common and often simplest type of legacy gift for donors to set up.
- Life Insurance:
- Donors can designate NAC as one of the beneficiaries of their life insurance policy. Or, if you no longer need the policy, you can donate the accumulated value to NAC.
- Retirement Fund:
- Donors can designate your organization as one of the beneficiaries of their retirement assets, like their IRA, 401(k), or pension.
- Charitable Gift Annuities:
- The donor gives a large amount of money to the nonprofit. The nonprofit then pays the donor a set annual income from that donation until the pay period ends (usually when the donor passes). After that, the nonprofit gets the remaining funds.
- Retained Life Estates:
- A donor gives your nonprofit a piece of property that they own, but can still use during their lifetime. Once the donor passes, your organization can choose to sell or keep that piece of property.
- Charitable Remainder Trust:
- This legacy gift is a type of trust gifted to a nonprofit that pays an annual amount to the trustee. After the trust is completed, the nonprofit receives the remaining funds.
Matching Gifts
Matching gifts are a type of giving program that is set up by companies and corporations as an employee benefit. After an employee donates to a nonprofit, they can submit a matching gift request to their employer and the company will make an additional donation to that nonprofit.