Planned Giving

What legacy are you leaving for the people and causes that matter most to you?

If you have already passed along your stories, your wisdom, your caring, and your lifestyle, what more can you give?

You may want to consider leaving a bequest to the ResourceWest fund, a permanent fund of The Minneapolis Foundation. It doesn’t have to be large and you don’t have to be wealthy. Your gift, whether large or small, can join with the gifts of others to make a tremendous difference.
 
For help in creating your legacy through your will or using retirement or other assets, talk to your financial advisor or attorney or call:
Judy Elling                              Mary Ellis Peterson
Executive Director                 Gift Planning Officer
ResourceWest                      The Minneapolis Foundation
(952) 988-5351                     (612) 672-3859
judy@resourcewest.org      mepeterson@mplsfoundation.org

There are many gifting options available:
Give Now
You don’t have to wait. If you give appreciated assets such as stock or real estate, you can deduct the full fair market value of your gift and avoid capital gains tax. And, of course, cash is always welcome.

Give through a Will or Living Trust
When you write your will or trust, ask your attorney to add a gift to the ResourceWest fund of The Minneapolis Foundation. Your gift can even be contingent – if your loved one dies before you, you can give the balance of your estate to charity. Only you know what kind of gift to make. Talk to your attorney or to our development staff for ideas or assistance.

Make an Irrevocable Life Income Gift
You may want to make a gift, especially of appreciated assets, that will continue to pay you income during your lifetime. Such a gift entitles you to a charitable income tax deduction, may avoid capital gains tax, and could actually provide you a secure lifetime income stream. For more information on charitable remainder trusts or gift annuities, talk to your advisor or The Minneapolis Foundation.

Give IRA or Qualified Retirement Assets
If you leave retirement assets to your loved ones, they will have to pay ordinary income tax, and may have to pay estate tax, as well. If you leave your assets to the ResourceWest fund of The Minneapolis Foundation, the whole retirement account you have worked to save can go to the charity, since charities are tax-exempt. This is an easy gift to set up -- simply name the charity as the beneficiary (or contingent beneficiary) of your IRA or retirement account.

Give Life Insurance
You can name the ResourceWest fund of The Minneapolis Foundation as the beneficiary of a life insurance policy. If you no longer need the insurance and it has built up value, you can give the policy to charity now and get a current income tax deduction. If you continue to pay the premiums, the payments you make are deductible each year.

Give Series E Bonds
If you cash in or give U.S. Government Series E or EE bonds to your loved ones, income tax may take much of their value. But if you give them to the ResourceWest fund of The Minneapolis Foundation, in your will (they must be specifically described), no income taxes will have to be paid.

Other Ways to Give
You can name ResourceWest fund of The Minneapolis Foundation as the beneficiary of a bank account by setting up a pay-on-death (“POD”) account through the bank. You can do the same thing with an investment account by setting up a transfer-on-death (“TOD”) account.

A Gift that Keeps on Giving
Think about the people who have made a difference in your life. The parent or grandparent who came to every game; the coach or teacher who believed in you; your scout leader, a mentor - - What can you give to someone who has meant so much to you? You can create a Gift Annuity as a gift. Your honoree will receive a secure income for life and you will receive an income tax deduction. When he or she dies, the gift will continue to give to your community through a fund at The Minneapolis Foundation. Call the Minneapolis Foundation for more details.