Planned gifts ensure that future generations of your family and community have Glen Echo Park to enrich their lives.
Planned giving opportunities to support the Glen Echo Park Partnership for Arts and Culture, Inc. (“GEPPAC”) include:
• Retirement Plans
• Bank Accounts and Securities
• Life Insurance Policies
• Charitable Trusts
We recommend that you consult your financial advisor before implementing any planned gifts. Donors who notify GEPPAC of an intended planned gift are eligible for special recognition.
For more information on leaving a legacy to GEPPAC, please contact Jilna Kothary, Director of Development (301) 634-2230 | firstname.lastname@example.org
A charitable pledge is an agreement between a donor, usually an individual or a private foundation, and GEPPAC, in which the donor promises to make a contribution in the future. Pledges may be either unrestricted for GEPPAC to use for its general purposes or restricted for a specific purpose or use. A pledge may be payable over a number of years during life or after the donor’s death.
The most common way to make a planned gift is to name GEPPAC as a beneficiary under your Last Will and Testament or Revocable (Living) Trust. A bequest to GEPPAC is deductible against estate and inheritance taxes. Advance planning can minimize these taxes and preserve more of the estate.
Suggested language for the attorney drafting your estate plan:
-- Specific Bequest Language:
GEPPAC can be named as a beneficiary of a specific amount from your estate.
"I give, devise, and bequeath to the Glen Echo Park Partnership for Arts and Culture, Inc., a nonprofit organization incorporated in the State of Maryland, also known as GEPPAC, EIN: 38-3650339, the sum of $__________________ to be used by GEPPAC in its discretion for its general purposes."
-- Residual Bequest Language:
A residual bequest comes to GEPPAC after your estate expenses and specific bequests are paid.
"I give, devise, and bequeath all (or state a percentage) of the residue of my estate to the Glen Echo Park Partnership for Arts and Culture, Inc., a nonprofit organization incorporated in the State of Maryland, also known as GEPPAC, EIN: 38-3650339, to be used by GEPPAC in its discretion for its general purposes."
Donors can make a charitable gift using retirement assets, by naming GEPPAC as a beneficiary.
Bank Accounts and Securities
GEPPAC welcomes gifts of bank accounts or publicly-traded securities (such as stocks, bonds, or mutual funds). You may instruct any financial institution in which you have an account or the holder of a security to register such asset to be transferred to GEPPAC upon your death.
Life Insurance Policies
You can name GEPPAC as the beneficiary of a new or existing life insurance policy.
A charitable trust allows you to transfer assets to a trust that makes provisions for both specified individuals and charities.
-- Charitable Remainder Trusts: Charitable remainder trusts allow you to designate you and/or another individual to receive regular payouts from trust proceeds during your/his/her lifetime or for a period of years. GEPPAC would be designated the remainder beneficiary and will receive any amounts remaining after the end of the initial term.
-- Charitable Lead Trusts: A charitable lead trust is the reverse of a charitable remainder trust; the gift to GEPPAC is the income stream from the trust, not the remainder.