DML welcomes legacy giving by donors. Legacy giving, also known as “planned giving,” is able to cement the legacy of a donor, provide tax breaks, and allow the donor more control over use of donation. For DML, legacy giving adds an additional revenue source for fiscal stability, augments other asks, and deepens the connection with donors.
The different types of legacy giving that DML accepts are as follows:
- Bequests. Bequests are the most popular and simplest type of legacy giving. In their wills, donors will name what they want to give to your nonprofit, whether it’s a specific amount of funds, stocks, a piece of art, or even a percentage of the value of their estate.
- Life insurance. When taking out a life insurance policy, donors can name a DML as one of its beneficiaries. Donors who currently have life insurance policies they don’t need anymore can also participate in legacy giving by donating their policy’s accumulated value to DML.
- IRAs. Some donors may be interested in joining a tax-deferred retirement plan. You can use this as a method to participate in DML’s legacy giving program by either naming DML a beneficiary or as a recipient of the percentage of the proceeds.
- Retained life estates. Instead of making a monetary donation, donors can give DML a piece of property they own, while still retaining the right to use it during their lifetime. After the donor passes, DML can choose to keep or sell the property.
There are even more ways to make a legacy gift than just these options. If you have a different method, please talk to us and we can work out the details. Please email email@example.com to connect.