Life & Legacy Giving and Capital Needs
Over the past two years, we have written numerous articles on legacy giving as a gift planning tool for charitable giving. Most of those articles addressed different vehicles that all donors can use to support their charities of choice during or after their lifetime, all of which may financially benefit their estates. JFS Orlando is currently renovating its offices as a result of a generous grant from Orange County Government; however, those funds are not sufficient to address all of the capital needs of the Agency.
Projects that are not funded at this time include an updated security system (estimated cost – $15,000.00); new roof gutters (estimated cost $5,000.00); exterior building painting (estimated cost $5,000.00); exterior signage (estimated cost $5,000.00); building roof insulation replacement (estimated cost $2,500.00); AC ceiling diffusers (estimated cost $4,500.00); and parking lot resurfacing (estimated cost $10,000.00).
As such, we thought that we would use this timely opportunity to address the issue of legacy giving in support of capital projects.
While donors can use one of many different vehicles to make a legacy gift to JFS Orlando, most legacy gifts for capital projects are bequests – gifts of personal property, such as money, stock, bonds, or jewelry, owned by a decedent at the time of death which is directed by the provisions of the decedent’s will to a charity. A portion of an irrevocable bequest will be credited to the capital campaign during the lifetime of the donor and 100% of the bequest will be credited to the capital campaign upon the death of the donor. What a great legacy to leave to JFS Orlando – a donation that will enhance the facility that provides continual service to people in need in Central Florida!
Any assets transferred to JFS Orlando during the lifetime of donors may be considered charitable contributions and tax deductible to the extent provided by IRS regulations. Donors should check with their tax professionals to determine the specific tax deductibility of their donations.
Capital donations made via legacy or a lifetime gift can immediately help JFS Orlando. Improvements to JFS’ facility save operating funds and the purchase of needed equipment allows JFS Orlando to use its annually budgeted funds for programs and provide direct services to people in need.
For more information about legacy and capital giving, please contact JFS Executive Director, Eric Geboff at 407-644-7593 extension 238 or via e-mail at firstname.lastname@example.org.