News

Bequests

Jun 11, 2014

The most common way to make a planned gift to Kiwanis International Foundation is as a bequest through a will or a trust. Anyone can put together a will with or without assistance, and there are a number of good reasons to do so.

A will gives individuals the power to distribute property the way they would like to, rather than as the law determines. Wills provide protection for individuals and can designate guardians for children. And it also provides the opportunity for individuals to fulfill their final charitable wishes.

The biggest reason a charitable gift through a will is popular is because it is relatively easy. It simply requires language (provided below) indicating your wishes to include a gift to Kiwanis International Foundation. Wills provide an opportunity to provide an ultimate gift for that charitable cause, and to perpetuate their life interest into the future. Essentially, it’s leaving the gift of the organization to future generations.

A bequest to Kiwanis International Foundation goes to support the Kiwanis International Foundation endowment, which provides grants each year to support important Kiwanis club, district and district foundation projects. However, if a donor would like, they may choose to support a specific cause or program within the foundation. This could include the Kiwanis Children’s Fund, Key Club or the worldwide service project (currently The Eliminate Project).

A donor may make an outright gift or give a percentage of the remainder of their estate after all other obligations have been fulfilled. Other pieces of an estate such as a life insurance policy, retirement policy or other assets may be donated to charity, but typically require additional steps than inclusion in a will. These methods can often provide increased tax benefits as well. It’s best to have a conversation with a financial adviser or estate planner to create a plan that will fulfill your financial goals.

It’s not necessary to share your intentions of including the Kiwanis International Foundation in a will, it can be helpful. Doing so ensures that the foundation is aware of your intent and understands your wishes.

A bequest to the Kiwanis International Foundation is a great way to join the Heritage Society or the Mary and Bo Shafer Society. For including a percentage of the remainder of your estate or a contribution of US$10,000 or more, you will join the Heritage Society. If your gift is US$50,000 or more, you will join the Mary and Bo Shafer Legacy Society.

For more information, please contact manager of major and planned giving Steve Hinson at shinson@kiwanis.org or 317-217-6234.

If you’d like to include Kiwanis International Foundation in your estate, please feel free to use the following sample bequest language:

GENERAL BEQUEST:

I give (dollar amount, percentage of residual estate, or description of property) to the Kiwanis International Foundation, 3636 Woodview Trace, Indianapolis, IN 46278, to be used for its exempt purposes.

(Note:  A residuary bequest is used to convey to the nonprofit all or a percentage thereof of one’s property, after all debts, taxes, expenses and other bequests have been paid.  KIF encourages you to consult with your attorney, accountant or other personal advisor about a residuary bequest and to consult with KIF in advance when you anticipate bequeathing tangible assets and/or real property.)

RESTRICTED BEQUEST:

I give (dollar amount, percentage of residual estate, or description of property) to the Kiwanis International Foundation to be used for the following purpose (The Children’s Fund, World Service Project, Key Club or Circle K Club).