Planned Giving

Including the Foundation in your will or trust for a specific dollar amount, a percentage of your estate, or another provision will support Brightpoint for years to come. Unrestricted bequests are greatly appreciated as they allow the Foundation to use funds to fulfill the greatest need at the time.

Sample Language for Will

Retirement accounts such as IRAs, 401(k) and 403(b) plans can be subject to double taxation – ordinary income tax and estate tax – for your heirs. Retirement plan assets left to the Foundation will transfer tax-free. In planning your estate, consider leaving your retirement plan assets to the Foundation, and leaving more favorably taxed assets to your loved ones.

If you are at least 70 ½ years of age, you can make current gifts (up to $100,000 per year) to the Foundation directly from your qualified retirement plan as part of your annual requirement minimum distribution thereby avoiding income tax on amounts distributed as gifts. Charitable gifts from your retirement plan do not qualify for a charitable deduction. 

You can leverage your resources while providing an extraordinary legacy gift to the Foundation through life insurance. You can donate your existing paid-up policy by making the Foundation the owner and receive an income tax deduction for the value of the policy. If you prefer, you can maintain ownership of your policy but name the Foundation as beneficiary. This way you maintain the flexibility to change beneficiaries if your situation changes.

You can both supplement your annual income and make a legacy gift to the Foundation by establishing a charitable remainder trust. A charitable remainder trust allows you to receive payments from the trust for life or for a term of years. At the end of the lifetime or term of years, the trust assets pass to the Foundation. When you choose a charitable remainder trust, you can claim a current income tax deduction that represents the present value of the eventual gift to the Foundation.

You can provide for the Foundation and your heirs through a charitable lead trust. With a charitable lead trust the Foundation will receive payments from the trust during your lifetime and at the end of the trust term, the assets pass to you or your loved ones. This vehicle provides a tax-advantaged method of supporting Brightpoint during your life or a set number of years, with the potential for significant tax-free distribution to family and other heirs.

If you choose to give appreciated securities that you have owned for more than a year, you may receive capital gains tax benefits as well as a charitable gift income tax deduction based on the full fair market value of the securities. You can also use appreciated securities to fund a life income gift such as a charitable remainder trust, thereby providing income for you during your lifetime and a remainder gift to the Foundation.

A Donor Advised Fund (DAF) is a charitable giving program that allows you to combine the most favorable tax benefits with the flexibility to support your favorite causes. Establish a DAF with a community foundation or financial services company and you can make annual gifts to the Foundation through this fund. DAFs also facilitate legacy planning as you may also specify the Foundation as a principal beneficiary of the donor advised fund when it terminates.