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Planned Giving
Establishing Your Legacy with Cleveland Sight Center
Planned giving refers to the various ways you can contribute to a non-profit organization, like Cleveland Sight Center (CSC), and establish your lasting legacy. A planned gift is a contribution that is arranged in the present and allocated at a future date, commonly after the donor has passed away. Creating a planned gift is a simple, flexible and versatile way to accomplish your philanthropic goals and ensure Cleveland Sight Center can continue to offer its life-changing services.
To ensure the longevity and impact of your gift, planned gifts at CSC are designated to our endowment, unless specified otherwise. Our endowment was established in 1920, and through generous planned gifts in the decades since, it has experienced steady growth. Now, the endowment is our largest financial asset, which produces a perpetual source of financial support for programs and services to people who are blind or visually impaired in Northeast Ohio. By adding your planned gift to our endowment, it ensures your legacy will continue in perpetuity and make an even greater difference for our clients. Donors who have made this commitment of leaving a planned gift to Cleveland Sight Center are recognized through The Foresight Society.
To speak with a member of our team about establishing your legacy with Cleveland Sight Center or to inform us of your planned gift intent with CSC, please contact 216-791-8118 or info@clevelandsightcenter.org.
Information
Legal Name: Cleveland Sight Center OR Cleveland Society for the Blind
Federal ID: 34-0714652
Cleveland Sight Center Address: 1909 E. 101st St. Cleveland, OH 44106
Sample Bequest Language: for sample bequest language, please click here.
Letter of Intent: for CSC’s planned giving letter of intent, please click here.
Types of Planned Gifts
Individuals can generally reduce income tax, avoid capital-gains tax, increase spendable income and reduce potential federal estate tax based on how your planned gift is structured – all while supporting Cleveland Sight Center! You can fund planned gifts through cash, securities and real estate, tangible personal property, and/or retirement assets.
Below are a few types of planned giving vehicles to consider, depending on your goal.
| YOUR GOAL | YOUR GIFT | |
|---|---|---|
| A revocable gift upon death (does not affect your current cash flow). | Bequest – will/trust | |
|
Give retirement assets to maximize impact, yet help avoid taxes (does not affect your current cash flow). |
Retirement Plan | |
|
Use life insurance policy to enhance philanthropic impact (does not affect your current cash flow) |
Life Insurance Policy | |
| A gift that makes annual payments, while achieving an immediate tax deduction | Charitable Gift Annuity; Charitable Remainder Trust |
Types of Planned Gifts Descriptions
Bequest: A gift under a will or trust to CSC gives you the ability to make a significant gift that perhaps you may have been unable to make during your lifetime. These gifts can be made through your will by indicating a specific dollar amount or percentage of your estate to be donated to CSC.
Retirement Plan: With proper planning, your 401(k), 403(b) or other qualified retirement plan may be used as a charitable gift to CSC. Upon death, retirement plan assets usually are subject to estate and income tax. By gifting all or some of these assets to CSC, the value of the interest passing is fully deductible for estate-tax purposes.
Life Insurance: If you are carrying more insurance coverage than family obligations require, this is a great opportunity to make a planned gift. Simply name CSC as the beneficiary to support the organization.
Charitable Gift Annuity: A charitable gift annuity is a simple contract between you (and perhaps your spouse/partner) and CSC. In exchange for an irrevocable gift of cash, securities or other assets, CSC agrees to pay you and perhaps those you designate an annual fixed sum for life or a term of years.
Charitable Remainder Trust: A charitable remainder trust offers financial and estate-planning flexibility. You may entrust property, specifying how the trust income and interest will be distributed. Establishing a charitable trust may allow your gift to CSC to make better use of retirement fund assets or potential financial “windfalls” (sale of a company, gains in the financial markets, inheritance, etc.) and generate income, capital gain and estate tax savings.
If you are considering a different type of planned gift that is not shown here or have any questions, please contact 216-791-8118 or info@clevelandsightcenter.org to learn more.
*This information is not professional tax or legal advice. Please consult an advisor about your specific situation.
