April 18, 2025
Every Spring, we hold a special event to show our gratitude for our Legacy Club. The Legacy Club consists of donors who have designated Bayview Manor Foundation as the beneficiary of any aspect of their estate plan. We love to celebrate these donors, as including the Foundation in an estate plan is an important decision with an equally as important impact.
Legacy donations are not for everyone – becoming a Legacy Donor is a very personalized and individual decision. Here’s what a future Legacy Donor and Bayview resident Nancy Jones (image above) had to say about her decision to become a donor:
I read a quote recently that stated, ‘It isn’t what you have but what you give away that defines you.’ This strikes home as I get older and plan how my assets will be distributed upon my death. What statement do I want to be part of my own legacy?
Having served on the Board of Bayview Manor Foundation for eight years, I realize that legacy gifts come in all sizes. Some constitute all of a modest person’s assets; others a percentage of moderate wealth.
We all depart this Earth with nothing – empty handed you might say. May what we leave behind help those who come after us.
Each of our donors has a different reason for joining our Legacy Club, in addition to the many benefits that planned giving can provide. What are some of the benefits of becoming a Legacy Donor? Check out this excerpt from FreeWill’s Article, “Benefits of Planned Giving”:
3 Benefits of Planned Giving for Donors
1. Donors can create a legacy for themselves or their families.
Through planned gifts, donors can leave a legacy behind after they pass. That’s why planned giving programs are often called legacy programs or legacy societies. Whether leaving a bequest as a tribute to a family member or creating a legacy for themselves, donors benefit from planned gifts because they can make a lasting impact on a cause that’s important to them.
While major donors can create a big impact during their lifetimes and occasionally be recognized with naming opportunities, charitable bequests are one of the few ways that any donor can see similar recognition. To honor these gifts, nonprofits often offer perks like public acknowledgments or special events. Some universities will even create named scholarships in the donor’s memory.
2. Donors can secure the tax benefits of planned giving for themselves and their heirs.
Planned gifts offer a few tax benefits depending on the type of gift. Bequests are particularly tax-advantageous for donors with large estates. Estates worth more than $11.7 million will owe federal taxes, but bequests of cash or other assets (like real estate, autos, or stocks) are deducted against the estate’s value. This reduces federal estate taxes for a donor’s heirs.
Other planned gift types see significant tax benefits, as well. For example, charitable remainder trusts are tax-exempt. And when a donor makes a gift of real estate, they receive an income tax deduction equal to the value of the property and avoid capital gains taxes.
3. Planned giving donors can determine how their gifts are spent.
One of the key benefits of planned gifts is that donors have more control over where their money goes than with most annual gifts. Planned gifts are generally part of a legal contract like a donor’s will. This means the donor can include language that allocates how or where they want their charitable contribution to be spent (within certain limitations depending on the organization receiving it). Donors can also choose the amount of their estate that they would like to give to an organization – it does not have to be an all-or-nothing donation. Many donors will leave a percentage to an organization and pass on the remainder to their heirs.
Legacy donations are one of the best ways to have a substantial impact on an organization like Bayview Manor Foundation. If you are interested becoming a Legacy Donor or have any questions, please contact Liz Anderson, Foundation Development Manager, at eanderson@bayviewseattle.org. We look forward to welcoming new donors at our signature Legacy Club events!
