Personal Donor Stories - What exactly is Planned Giving?

PLANNED GIVING. It's a term that has only recently made its way closer to mainstream conversation. At first glance, it seems almost mysterious. Certainly unfamiliar. But the fact of the matter is that planned giving has been around for generation upon generation. Once considered an option only for those who were clearly wealthy, planned gifts are now available and a useful option for donors of all ages, all walks of life, and all levels of income.

Planned giving is simply an umbrella term for a whole host of ideas that allow you another option in making deferred gifts of cash, stocks, real estate, life insurance or unused retirement benefits in support of the programs and services offered by Volunteers of America. A planned gift is distinguished from a regular contribution by distinct differences including unique tax benefits and/or the opportunity for steady income to you, the donor.

A planned gift can be as simple and straightforward as listing a gift to Volunteers of America in your will. That is the case for Ken Potish, Past Chair of Volunteers of America of Kentucky's Board of Directors.

"First, I certainly recommend that anyone reviewing her or his estate plan or establishing one consider a bequest to a personally meaningful organization. It's very easily done, a matter of a few sentences in one's will. Second, I would further recommend that anyone familiar with Volunteers of America and its great work consider a bequest in its name."

"When it came time for a periodic review of my estate plan, I decided to set aside some assets to benefit Volunteers of America. Volunteers of America can't function without the support of benefactors and donors. Given my involvement and the kind of financial gifts I had been making, this seemed like the logical next step for me. I would be able to help Volunteers of America after I am gone."

Other planned giving options include the charitable gift annuity, a planned giving idea more specifically described in another section of this newsletter. The charitable gift annuity assures the donor a steady source of income for the remainder of his or her lifetime while providing Volunteers of America with vital program dollars.

For those with more complex estate plans or assets, there are more intricate planned giving ideas like the Charitable Remainder Unitrust, the Charitable Lead Unitrust, and a whole host of other instruments.

The bottom line is that in today's economy, it is important to realize just how helpful and practical a planned gift can be for a donor at virtually any level of giving. That gift for the future is absolutely essential to the programs and services we provide and the people we serve.

Homeless families and individuals, persons with mental illness, homeless veterans, those with drug and/or alcohol dependencies, persons affected by HIV/AIDS, the elderly, children, and persons with mental retardation and/or development disabilities all benefit from your wisdom toward the future.

For more specific information, please consult with your professional advisors or contact Terry Varney, Senior Director of Major Gifts and Planned Giving for Volunteers of America of Kentucky, at (502) 636-4638. You can also reach him by e-mail at TerryV@voaky.org.

There are no limits to caring. ®

Office of Planned Giving
1660 Duke Street
Alexandria, VA 22314-3427
1-800-899-0089, ext. 5073 | Fax: 703-341-7070
E-mail: rimbach@voa.org

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