Planned Gifts

Make a Planned Gift

We hope you will consider including Holly Ridge Center in your estate or financial plans. By including Holly Ridge Center in your will or estate plan, you may enjoy financial or tax benefits and help sustain our work for generations to come.

We would be happy to talk with you in more detail about your philanthropic desires, but here is some basic information to get you started:

The simplest way to make a planned gift is a bequest in your will. Or, you can establish a trust that will enable you to contribute to Holly Ridge Center while providing you with income, helping you meet your current and long-term financial and philanthropic needs. You also can designate Holly Ridge Center as a beneficiary of your retirement plan, life insurance policy, bank account or security.

To discuss your Planned Gift, please contact Peter Raffa at 360.479.9023. All requests for information are confidential.

Please let us know if you have already included Holly Ridge Center in your estate or financial plans.
There are many options available to those who wish to include Holly Ridge Center in their long-range planning. The information on our web site will help you get started, but it is general and does not apply to all individuals. You should consult your tax, legal or financial advisor concerning the specific details and consequences of making a Planned Gift to Holly Ridge Center and to help you determine which approach is best for you.
More about Gift Types (linked from above. Side bar or pop ups?)

• Bequests and Wills
• Charitable Trusts
• Retirement Plans
• Life Insurance Policies
• Bank Accounts & Securities
• Bequests and Wills

The simplest way to make a Planned Gift is by naming Holly Ridge Center in your will. A bequest is a meaningful way to support our work without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will or you can add a codicil at any time.
There are several types of bequests:

Specific: A specific bequest indicates the amount of cash, securities or other asset you wish to leave to the Foundation. Or it can indicate a specific percentage of the total value of your estate.

Residual: A residuary bequest leaves the remaining portion of your estate (or a percentage of the total) after all other bequests have been satisfied.

Contingent: You can make Holly Ridge Center the recipient of a contingency bequest, which takes into account the possibility of a change in your beneficiary’s circumstances. For example, you might leave the Holly Ridge Center a bequest if another heir predeceases you.

Unrestricted and Restricted Gifts

Unrestricted: Gifts that do not restrict the use (unrestricted gifts) are especially appreciated and are of more value as they allow Holly Ridge Center to allocate resources where the needs are the greatest.

Restricted: We are also grateful for gifts that are designated for a specific purpose that advances its mission (restricted gifts), such as support to a specific initiative or for a specific program.

If you are interested in making a restricted gift, it is important that you include specific language to ensure that Holly Ridge Center may re-direct the use of your gift if the specified initiative, program, or purpose ceases to need funds in the future. Please contact us if you wish to make a restricted gift.

Charitable Trusts

A charitable trust is a flexible way to serve your current and long-term financial and philanthropic interests. Through a charitable trust, a donor gives cash, stock, real estate, or other assets to a trust, which is invested and managed by a professional financial institution of the donor’s choice. Once created, a charitable trust is irrevocable. Charitable trusts take two forms — charitable remainder trusts and charitable lead trusts.

A charitable remainder trust allows you to designate the beneficiary of regular payouts from trust proceeds (for either a fixed dollar amount or a fixed percentage) during your lifetime or for a period of time, not to exceed twenty years. At the same time, Holly Ridge Center is designated a remainder beneficiary. This allows you to claim a tax deduction for the estimated portion of the assets that will ultimately go to the Foundation upon death or the expiration of the fixed period.

A charitable lead trust appeals to individuals who wish to make a gift but retain the property. Through a charitable lead trust, you can designate the Clinton Foundation as the beneficiary of annual payments from the trust, allowing the donor to avoid taxes on the income during the fixed period of time or until the end of the donor’s life. At the end of the period or at death, the remainder is distributed to your heirs.

Retirement Plans

Certain retirement plans, such as IRAs, 401(k), 403(b), and Keoghs, allow individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. However, after a person’s death, these accounts are often exposed to taxes. Therefore, you may find it beneficial to contribute all or part of these funds while leaving other assets to your heirs.

Simply name Holly Ridge Center a beneficiary of your retirement plan. You will retain complete control during your lifetime, and you can change your beneficiary at any time if your circumstances change.

Please note: You also may be eligible to make annual charitable gifts using funds withdrawn from retirement accounts, eliminating the income tax that would otherwise be due on such withdrawals.

Life Insurance Policies

An easy and straightforward method of philanthropic giving is through life insurance policies. We welcome gifts of life insurance when the policy is paid in full and Holly Ridge Center is named as the owner and the irrevocable beneficiary of the policy.

We are happy to accept gifts of life insurance policies that are not paid in full at the time of the gift when the policy:

• Can be surrendered as of the date of the gift for its current value
• Can be converted as of the date of the gift to a reduced face amount
• Has sufficient value as of the date of the gift to keep it in effect without payment of any additional premiums

We will also gladly accept benefits payable under a life insurance policy where Holly Ridge Center is a named beneficiary or contingent beneficiary under the policy, whether the policy is owned by Holly Ridge Center or not.

Bank Accounts and Securities

One of the easiest ways to make a gift to Holly Ridge Center is by designating it the ultimate recipient of a bank account, certificate of deposit, or security. You can instruct any financial institution in which you have an account or the holder of a security to place your asset in a trust (often called a Totten Trust) to be transferred, upon death, directly to an organization or individual. This will allow you to use the asset during your lifetime and to give the remaining asset to Holly Ridge Center upon your death.

Most Totten Trusts can be created easily, using a form obtained from your financial institution or the holder of the account or security.