Resources For Advisors
To assist you in facilitating your clients charitable wishes, below are commonly used charitable giving resources for your use.
Sample Bequest Language
To Establish a Fund for Community Needs
I give and bequeath to Placer Community Foundation, a 501(c)(3) public charity, the sum of $(Amount), or (Percent)% of my estate, or all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition. The Placer Community Foundation shall administer said assets for the sole benefit of, and in accordance with the provisions of, the Amended Articles of Incorporation of Placer Community Foundation, and any amendments or additions thereto at any time made. The fund so established shall be known as the (Name) Fund of Placer Community Foundation.
To Establish a Field of Interest Fund—targeting your gift to a specific cause or geography
I give and bequeath to Placer Community Foundation, a 501(c)(3) public charity, the sum of $(Amount), or (Percent)% of my estate, or all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition. The Placer Community Foundation shall administer said assets for the sole benefit of, and in accordance with the provisions of, the Amended Articles of Incorporation of Placer Community Foundation, and any amendments or additions thereto at any time made. The fund so established shall be known as the (Name) Fund of Placer Community Foundation.
Add: Placer Community Foundation shall make distributions from this Fund in accordance with a spending policy adopted by the Board of Directors of Placer Community Foundation annually for component funds of Placer Community Foundation. The annual amount determined shall be used for the purpose of (explain purpose of the fund – i.e. to support animal welfare causes or to support causes in the greater Roseville area).
To Establish a Designated Fund—supporting the work of one or more nonprofit organizations
I give and bequeath to Placer Community Foundation, a 501(c)(3) public charity, the sum of $(Amount), or (Percent)% of my estate, or all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition. The Placer Community Foundation shall administer said assets for the sole benefit of, and in accordance with the provisions of, the Amended Articles of Incorporation of Placer Community Foundation, and any amendments or additions thereto at any time made. The fund so established shall be known as the (Name) Fund of Placer Community Foundation.
Add: Placer Community Foundation shall make distributions from this Fund in accordance with a spending policy adopted by the board of directors of Placer Community Foundation annually for component funds of Placer Community Foundation. The annual amount determined shall be distributed to (name of recipient organization or organizations and percentage to each, if more than one).
To Establish a Scholarship Fund—investing in deserving students
I give and bequeath to Placer Community Foundation, a 501(c)(3) public charity, the sum of $(Amount), or (Percent)% of my estate, or all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition. The Placer Community Foundation shall administer said assets for the sole benefit of, and in accordance with the provisions of, the Amended Articles of Incorporation of Placer Community Foundation, and any amendments or additions thereto at any time made. The fund so established shall be known as the (Name) Fund of Placer Community Foundation.
Add: Placer Community Foundation shall make distributions from this Fund in accordance with a spending policy adopted by the board of directors of Placer Community Foundation annually for component funds of Placer Community Foundation. The annual amount determined shall be made available for scholarship awards and shall be distributed to the institution of higher education selected by the scholarship recipient. Scholarship awards shall be made to (explain scholarship award criteria – i.e. to support students in Placer County pursuing a degree in the Liberal Arts and Sciences).
To Give to an Existing Fund at PCF
I give and bequeath to Placer Community Foundation, a 501(c)(3) public charity, the sum of $(Amount), or (Percent)% of my estate, or all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition. The Placer Community Foundation shall administer said assets for the sole benefit of, and in accordance with the provisions of, the Amended Articles of Incorporation of Placer Community Foundation, and any amendments or additions thereto at any time made. The gift so established shall be disbursed in accordance with the stipulations of the originating document of the (name of existing fund at Placer Community Foundation) Fund.
Need assistance? Let's Talk!
No matter what the charitable question or need may be, if it’s about philanthropy or the community, Placer Community Foundation has the answer. Call and let us point you to the resources you need to serve your clients.
530.885.4920
Frequently Asked Questions
Here are some questions we often hear from the professional advisors we work with. Call us with your specific questions.
Q: What do I need to know about the IRA Charitable Rollover legislation that was passed in December 2015.
A: On December 18, 2015, legislation was passed permanently extending the Charitable IRA allowing Americans age 70½ and older to transfer up to $100,000 per year from IRAs to charity—without incurring federal income taxes today or estate and income taxes in the future. If married, each spouse can transfer up to $100,000 from his or her IRA annually. Please visit our IRA Charitable Rollover page for more information.
Q: Your client will be receiving additional taxable income this year. She'd like to give some to a charity, but isn't ready to decide which one and might want to extend her giving over future years.
A: By opening a Donor Advised Fund, your client locks in her tax deduction for the current year and then can take time to set her charitable goals and enjoy her giving.
Q: What is an endowment?
A: An endowment is an invested fund created to provide charitable gifts to nonprofits in perpetuity by investing the principal (endowment corpus) and expending a fixed portion of the income to carry out the donor’s recommendations. The goal of an endowment is to ensure that the fund maintains its purchasing power over time to support future generations. The power of an endowment is that donated assets may provide for community needs in perpetuity.
Power of Endowment
Q: Your client has no children and it's time to write a will.
A: What are they passionate about? How do they want to be remembered? Suggest a charitable fund at the Foundation as a way to be remembered and an alternative to paying too much estate tax. A bequest to the Community Needs Fund at PCF will help provide for the needs of our community forever.
Q: Your client is philanthropic and is now approaching retirement age. How can he continue his generosity while his earnings begin to taper off?
A: A Donor Advised Fund is a great solution for someone at the peak of their income who has philanthropic goals for the future. By investing today’s dollars in an endowed fund, your client can continue giving generously well into his retirement.
Q: Your client wants to sell appreciated property, but is concerned about capital gains taxes.
A: Giving all or part of real estate that has appreciated in value to the Foundation will eliminate or reduce capital gains taxes and can replace less efficient charitable giving. We accept gifts of real estate and transfer their value to your client’s fund when they have been sold. Your client can even continue or begin to receive lifetime income from their gift. They will have the satisfaction of giving to one or more charities (in Placer County or beyond) immediately, during their remaining lifetime and even creating a legacy that lasts forever.
Q: Your client wants to open a charitable fund but prefers to retain your services to invest their funds. Can a third-party manage a fund held at the Foundation?
A: We use long-term investment strategies to ensure that philanthropic dollars donated by generous donors last forever while also making available the maximum amount possible for grantmaking every year. However, we understand the value of long-term relationships. Our Financial Advisor Program makes it is possible for your client to create a Fund at the Foundation and retain your investment management.
Q: Your client has a large retirement fund but his children will only receive 20 or 30 cents on the dollar.
A: Giving the retirement fund to an endowment from which heirs may recommend charitable gifts will reduce estate tax, eliminate income tax on the IRA distribution, and create a family legacy. In the meantime, other assets can be used for gifts to family members.
Q: Your client has inherited artwork, jewelry, or real estate and would like to set up a fund.
A: The Community Foundation can accept personal and appreciated assets to help your client set up a charitable fund.