Join our Legacy Society

Planned giving is a simple way to help others and to express your values now and into perpetuity. It’s a flexible and powerful financial planning tool that can have many tangible and intangible rewards for you. Planned gifts can take many forms and often come with tax benefits. Different assets may be used to fund your legacy. Cash, appreciated property, personal property (such as antiques, jewelry or art) stocks, bonds and insurance are some possibilities. The information below is a simple introduction to a few types of planned giving. We recommend you speak with your attorney and/or financial planner about your wishes. Below are a few ways you can use your will or estate to perpetuate your support for the work of the Out Alliance.

This is a common way for you to leave a legacy, and is a meaningful and simple way for you to support our work. In your will you designate a specific amount of money, a percentage of your estate, or a specific asset. You can easily create a bequest that helps us after you have provided for your family and friends, this is called a “residual bequest”. The Out Alliance can also be named as a contingent beneficiary.

If you’re ready to leave a bequest to us it’s important to include our correct legal name and address in the bequest papers. You will also need our federal tax ID number, which is 161066400.

Here is an example of the language you could use: “I hereby give, devise, and bequeath to the Out Alliance of the Genesee Valley, a nonprofit New York State corporation with it’s principal office at 875 E. Main St. Suite 500 Rochester NY 14605 the rest, residue, and remainder of my estate as an unrestricted gift to be used in the area of greatest need at the time the gift is received.”

Life insurance can be used to make a sizable gift to the Out Alliance. For example, you may be able to reduce your taxable assets when you purchase a policy and make the Out Alliance the owner and beneficiary of the policy. You can also make the Out Alliance the owner and/or a beneficiary on an existing policy.

You can deed your home, vacation property, or condominium to the Out Alliance and retain the right to live there and/or receive income from the property for as long as you or your beneficiaries live. A Life Estate gift reduces capital gains, inheritance and estate taxes and offers an income tax deduction as well.

You can make a sizable contribution to the Out Alliance now to hep meet our current needs, but without reducing the estate that you will eventually pass on to your family. A “wealth replacement trust” can accomplish this goal through the purchase of life insurance.

Items such as a charitable gift annuity, a charitable remainder trust, or a pooled income fund provide you and your designated beneficiary with income for life. A charitable gift annuity is a gift of an asset in exchange for a flow of income. Today, the concept includes valuable tax benefits for donors. Upon your passing, the Out Alliance receives your gift. Life Income Gifts generally reduce or eliminate certain taxes and guarantee you income for life. Perhaps more valuable than the financial advantages, however, is the satisfaction you’ll gain by helping us continue our work.

A “charitable remainder trust” can help you acheive a number of personal and financial goals. Depending on your circumstances, this plan can increase your income, reduce your taxes, unlock appreciate investments, rid you of investment worries, and ultimately provide very important support to our organization. Through a “charitable lead trust” you can both provide for an inheritance as well as make a significant charitable gift to the Out Alliance through your estate.

Depending on the type of planned gift, different assets may be used to fund your legacy. Cash, appreciated property, or personal property (such as antiques, jewelry or art) may all be options.

The simplest way to leave a legacy is to provide this suggested wording to your attorney:
“After all other specific provisions I give, devise and bequeath % of the residue (or a specific dollar amount) to The Out Alliance, a New York state charitable corporation (Tax ID 16-1066400) currently having offices at 875 East Main Street, Ste. 500, Rochester, New York 14605.”