Creating a charitable legacy is one of the most lasting and powerful actions you can take. When you include the Wichita Foundation in your estate plan, your generosity shapes Wichita’s future and helps us meet emerging community needs.
1
The simplest way to leave a planned gift is to make a bequest by including specific language in your will or living trust naming the Wichita Foundation (or your fund) as the recipient of a testamentary gift. The bequest can be for a specific dollar amount, a percentage of your estate or residue of the estate. Below you’ll find sample language to include in your will or trust.
To maximize flexibility, WF accepts Letters of Intent during your lifetime. This strategy allows for changes to be made in relation to your charitable goals, marital status and more at any point in your lifetime at no charge.
2
It is also possible to name the Wichita Foundation as a beneficiary of all or part of a financial arrangement, including retirement plans, IRAs or life insurance policies.
There are several advantages to this route:
3
Naming the Wichita Foundation as a beneficiary of your retirement funds, such as an IRA, 401(k), or 403(b), is a simple and effective way to benefit the community while avoiding significant, often unanticipated, tax penalties. The IRA qualified charitable distribution allows people age 70½ or older to direct up to $100,000 of their required minimum distribution from an IRA to a qualified charity without counting the distribution as taxable income.
4
Start with these examples of language to share with your attorney/estate planner/financial advisor to make a gift in your will or living trust.
“I give to the Wichita Foundation, a nonprofit corporation of the State of Kansas, currently located at 303 S. Broadway, Suite 100, Wichita, KS 67202, and successors and assignees, the sum of $_____________.”
“I give to the Wichita Foundation, a nonprofit corporation of the State of Kansas, currently located at 303 S. Broadway, Suite 100, Wichita, KS 67202, and successors and assignees, the _____________ percent of my residual estate.”
For giving to the Fund for Wichita
My bequest shall be used to support the Fund for Wichita at the Wichita Foundation.
For opening a Donor Advised Fund
My bequest shall be used to establish a Donor Advised Fund with the following individual(s) as fund advisors: ___________, _________, and ___________.
For giving to a specific cause
My bequest shall be used to establish a fund to devoted to the following cause or issue: ____________________________________.
For creating a fund to support a nonprofit
My bequest shall be used to establish a fund to support the following Section 501 (c)(3) public charity(ies)
_____________________________________________.
We’d love to know. Please download and fill out our Planned Giving Form of Intent to outline your philanthropic intentions. It will empower us to prepare today to fulfill your wishes in the future.
Welcome to our community of generosity. Let’s talk and take the next step.
