Empowering the Future: Secure Your Legacy with the George Snow Scholarship Fund's Planned Giving Program
At the George Snow Scholarship Fund, we believe in the transformative power of education. For over four decades, we have provided financial assistance and wrap-around support services to deserving students, enabling them to achieve their dreams of a higher education. Our commitment to this mission is unwavering, and we invite you to join us in securing a brighter future for generations to come, through our Planned Giving Program.
Planned giving is a meaningful way to support our mission while also achieving your own financial and philanthropic goals. By including the George Snow Scholarship Fund in your estate plan, you can make a lasting impact on the lives of future scholars. There are various planned giving vehicles to choose from, each offering unique benefits and flexibility. Here, we would like to share with you one of these powerful tools: Charitable Gift Annuities.
A Charitable Gift Annuity is a popular planned giving option that allows you to make a charitable gift to the George Snow Scholarship Fund and receive fixed payments for life. With a CGA, you can enjoy several advantages:
- Steady Income: CGAs provide you with regular fixed payments, ensuring financial security for the rest of your life.
- Tax Benefits: You may qualify for an immediate charitable income tax deduction when you create a CGA. Furthermore, a portion of your annuity payments may be tax-free.
- Supporting Education: By establishing a CGA with us, you directly contribute to our scholarship programs, helping bright and talented students access higher education.
Let's take a look at a hypothetical example to illustrate the potential benefits of a Charitable Gift Annuity:
John, aged 70, contributes $50,000 to create a Charitable Gift Annuity with the George Snow Scholarship Fund. In return, he receives an annual annuity payment of $2,500 for the rest of his life. He also benefits from a charitable income tax deduction of approximately $20,000. After John's lifetime, the remaining CGA balance supports the scholarship program.
In addition to Charitable Gift Annuities, we offer various planned giving options, including:
- Bequests: Designate a specific amount or a percentage of your estate to support our mission in your will or living trust.
- Charitable Remainder Trusts: Create a trust that provides you with income during your lifetime, with the remaining assets benefiting the George Snow Scholarship Fund.
- Life Insurance: Name us as a beneficiary of your life insurance policy, ensuring your legacy lives on.
- Retirement Plan Assets: Designate us as a beneficiary of your retirement accounts to reduce potential tax liabilities.
- Retained Life Estate: Donors can generate a current income tax deduction by transferring ownership in a primary home or property while retaining the right to live there.
Your support can help change lives by providing access to higher education. To explore how you can make a difference through planned giving and to discuss which option aligns best with your goals, please contact us today. Together, we can create a legacy of educational opportunity and empowerment for future generations.
Please consult with your financial advisor or attorney to determine the best planned giving option for your unique circumstances. The George Snow Scholarship Fund does not provide legal, tax, or financial advice.
For more information, please contact Jay Brandt, Vice President of Development at the George Snow Scholarship Fund 201 Plaza Real, Suite 260 Boca Raton, FL 33432
P: 561-347-6799 x 112
E: jbrandt@scholarship.org
