Give Later

Pete Lundberg’s father and his lifetime of charitable giving inspired Pete and his wife, Jill, to leave a legacy to MCF’s Community Impact Fund.

Make the community your heir by leaving a gift to Madison Community Foundation in your will or estate plan.

MCF offers many ways to give, and our helpful and knowledgeable staff are always here to help you find the giving option that’s right for you.

Ways to Give Later:

Bequest

A bequest through your will allows you to support charitable interests while retaining control of your assets during your lifetime and after. Bequests can be a specific dollar amount, a percentage or your estate, or what remains after other bequests, such as those to family members, are satisfied.

Giving Through A Bequest May Be Appropriate If …

  • You want to retain the ability to access your gift assets during lifetime.
  • You do not need an immediate income tax deduction.
  • You want the flexibility to change your gift at any time.

Life Insurance

Life insurance is one of the easiest ways to leave a legacy. If the policy premiums are complete, simply name Madison Community Foundation as beneficiary. If premium payments are needed, irrevocably assign your insurance policy to MCF as as beneficiary. Then make annual, tax-deductible contributions to cover the premium. When making your beneficiary designation, use the following - Legal Name: Madison Community Foundation, Tax ID: 39-6038248

Giving Life Insurance May Be Appropriate If …

  • You are purchasing a new policy, or your existing policy is paid up or has substantial cash value.
  • You have no outstanding loans against the policy.
  • Your loved ones are well provided for by other means.

Retirement Plan Assets

When retirement assets pass to your heirs, they can be subject to both estate and income taxes. As a result, many donors elect to designate Madison Community Foundation as the beneficiary of their retirement accounts. You can name MCF as beneficiary of an Individual Retirement Account (IRA), 401(k) or 403(b). Donors can direct their gift to an existing fund, or start a new fund.When making your beneficiary designation, use the following - Legal Name: Madison Community Foundation, Tax ID: 39-6038248

Giving Retirement Assets May Be Appropriate If …

  • You have an IRA, 401(k), 403(b) or other tax-deferred retirement plan.

  • Your loved ones are provided for by other means.

  • You want the flexibility to change your gift at any time.

Charitable Gift Annuities

A charitable gift annuity (CGA) is a unique opportunity to make a tax-deductible gift (typically cash or stock) while receiving a guaranteed income for your lifetime and the lifetime of another, if you choose. An annuity may be created for one or two people,and payments may begin immediately or be deferred. CGA donors designate the remainder of the annuity to an existing endowment fund or to start a new fund. The older the donor, the more favorable the annuity payment. CGA donors receive significant tax benefits, including an immediate charitable tax deduction for a portion of the gift amount, and a portion of each income payment is considered a tax-free return of principal. You can create a CGA with an initial minimum gift of $10,000 to benefit an existing fund. An initial minimum gift of $30,000 can be used to start a new fund.

Giving With A Charitable Gift Annuity May Be Appropriate If …

  • You are at least 60 years old.

  • You want the security of fixed, dependable payments for life.

  • You would like an immediate charitable deduction and partially tax-free income.

  • You are considering a gift of $10,000 or more.

Donors who choose to give later may remain anonymous or be recognized as a special partner in philanthropy by becoming a member of our Legacy Society. Member benefits include invitations to educational programs and social events, acknowledgment in the annual report and other publications, and more.

I think anyone who decides to invest in Madison Community Foundation should know that those of us who are doing it now do it because we have absolute confidence in the people who will be making decisions that our wishes will be carried out.”

– Carol Toussaint, donor, Legacy Society member

I think of my legacy gift as paying it forward. What better way to enhance the future of the city that has given me such a wonderful life?"

– Jane Coleman, donor, Legacy Society member

Learn more about our donors and why they give