Various Options for Planned Gifts

We work with you and your clients – whether individuals, families, or businesses – to tailor philanthropic strategies, maximize investments, and achieve tax savings. Giving opportunities often coincide with major business or financial decisions. At the Cleveland Foundation, donors can choose from a range of options. The following solutions are crafted to achieve your client’s personal financial and charitable goals:

Comparisons of Planned Gifts

  Bequest Charitable Gift Annuity Charitable Remainder Trust Charitable Lead Trust
Revocable Yes No No No
Minimum Gift Amounts None $10,000 $100,000 $1 million
Appropriate assets that can be used Virtually any Typically cash or marketable assets Virtually any Virtually any
Tax Benefits Possible Estate Income and estate Income and estate Possibly income and estate (depending on how the trust is structured)
Will This Gift Create a Stream of Payments to One or More Individuals? No Yes (at a percentage determined by the age of the recipients) Yes (at a prenegotiated percentage) No (However, this gift does allow for the transfer of property to one or more recipients with possible tax savings.)
Can Additional Gifts Be Made? Yes No Yes (only the unitrust type) Yes (only the unitrust type)
Age Limits to Creating None Payment beneficiaries must be at least 60. Payment beneficiaries must be at least 60. Trust may also be based on a term of years. Calculating ages must be at least 60. Trust may also be based on a fixed term of years.
Philanthropic Outcomes Entire bequest can flow to the nonprofit organization Donors have two choices in how the charitable portion of these gifts
are treated:
  1. The entire amount can become a fund at the foundation to be used for your organization or other organizations or for other purposes they select.
  2. Up to 50 percent of the amount can flow as a lump-sum payment to your organization as long as at least $10,000 remains in a fund at the foundation.
    That fund can also be used for your organization or other organizations or
    for other purposes.

For more information, contact our Gift Planning team.

Log in to the Planned Giving Design Center or register if you don’t have an account.