Hennessey Legacy Foundation

​

Endowment Funds and Planned Giving Create a Better Tomorrow…..Today!

When you make an endowment gift, you create a steady stream of annual income to forever support the critical needs of Hennessey.

Donors may elect to deposit their gift with a Trust Department of a bank or the foundation specifically established to invest the funds and insure the income from the endowed funds goes to the purpose specified by the donor

GIFTS WE ACCEPT

Gifts to endowment take many forms. CSCF facilitates donations of all types.

OUTRIGHT GIFTS

Outright gifts are a simple, convenient way to donate and receive maximum tax advantages. Money, securities, or personal/real property are the usual gifts.

BEQUESTS

Bequests of cash or property through a will are usually fully deductible for Federal and State tax purposes. The Foundation can also be named as the residuary beneficiary of a donor’s estate, or be named in a charitable remainder trust created by the will.

LIFE INSURANCE

Life insurance (with the Foundation as the irrevocable beneficiary of a life insurance policy) allows donors an immediate tax deduction in the amount of the cash value of the policy. Insurance premiums paid thereafter by the donor are deductible as a charitable gift.

MEMORIALS

Memorials made in memory of deceased person, or in honor of living persons, are generous testimonials. Creation of a memorial fund in the CSCF is also a means of achieving permanent memorialization.

CHARITABLE LEAD TRUSTS

Charitable Lead Trusts name the Foundation as the beneficiary of income from a trust for a specific number of years. The corpus, or bulk of the trust, eventually passes to other named beneficiaries such as children or grandchildren.

CHARITABLE REMAINDER TRUSTS

Charitable remainder trusts enable the donor to provide a lifetime income to themselves or beneficiaries and leave the remainder of the estate to the Foundation.