Lighthouse Partners with Seattle Foundation to Give Donors Income for Life
For the past four years, Seattle Lighthouse has partnered with The Seattle Foundation to offer life-income giving arrangements to donors. “The benefit to your donors is that they can arrange a charitable gift annuity or a charitable remainder unitrust, for which they receive a tax deduction as well as income for life,” says Seattle Foundation Gift Planning Officer Renee Duprel.
Charitable gift annuities and charitable remainder trusts are known as “life-income gifts” because they are both ways for donors to make a gift to charity while also receiving income for themselves or others for life. These special gifts can also have significant tax benefits for the donor, helping to avoid income and capital gains taxes.
The Seattle Foundation works with the Lighthouse to manage life-income gift payouts to the donor while ensuring that the gift ultimately goes into the Seattle Lighthouse for the Blind Foundation Endowment Fund in support of Lighthouse programs and opportunities. “The Seattle Foundation is the leading organization in our community for managing life-income gifts,” says President-elect Kirk Adams. “They have an excellent track record of solid management for donors. Besides providing money management, they take on the responsibility of distributing income to donors.”
“It’s more efficient this way,” Renee explains. “We focus on money management and that allows the Lighthouse to focus on their mission and programs.”
In order to maximize the benefit to both donor and the Lighthouse, The Seattle Foundation works with Planned Giving Services as advisors. “Planned Giving Services is an expert in the field,” says Renee. “We’re lucky to have them in our own back yard.”
“We wanted to offer our donors the option of life-income gifts because it’s a win-win for both the donor and the Lighthouse,” says Kirk. “The donor receives tax benefits, a steady income for life, and ultimately helps to build our endowment to support opportunities for blind people in perpetuity.”
To find out more about making a life-income gift in support of Seattle Lighthouse programs and opportunities, please contact Kirk Adams at (206) 436-2110 or email email@example.com.
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