Endowments

This type of gift can be given during a person’s lifetime or after death as an Endowment Bequest as stated below. Endowments are purpose driven giving, allowing the donor to designate the purpose of their gift. Their gift is invested with and becomes part of our endowment and a distribution is made each year. Because the principal remains intact, the fund will support our mission in perpetuity. Students Going Global currently has three designated endowment funds:
Longevity Endowment Fund – This fund will ensure the long term stability, sustainability and success of Students Going Global.
Building Endowment Fund – This fund will support the expansion and progression of Students Going Global and allow the organization to design and build its own place of business to conduct its operations.
National Expansion Endowment Fund – This fund will support the expansion and progression of Students Going Global and allow the organization to become a national organization and start a chapter in different states throughout the US.

 

Charitable Bequests

Paraprosdokians – A figure of speech in which the latter part of a sentence or phrase is surprising or unexpected, frequently humorous.
For example: Where there’s a will, we want to be in it.

We hope you’ll consider including a gift to Students Going Global in your will or living trust, which can include Cash, Securities, Savings Bonds, Real Estate, Closely Held Stock, Retirement Plan Assets, Life Insurance Death Benefits, or Insurance annuity assets.
This type of gift is called a charitable bequest, and it offers these main benefits:

  • Simplicity. Just a few sentences in your will or trust are all that is needed. The official legal bequest language for Students Going Global is: “I, [name], of [city, state, ZIP], give, devise and bequeath to Students Going Global [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”

  • Flexibility.Because you are not actually making a gift until after your lifetime, you can change your mind at any time.

  • Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.

  • Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.

How It Works
To make a charitable bequest, you need a current will or revocable living trust.Your gift can be made as a percentage of your estate. Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Students Going Global receives your gift.

Putting Your Family First
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense. Emergencies happen, and you need to make sure your family is financially taken care of first. Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter how your estate’s value fluctuates over the years.

Is This Gift Right for You?

In general, a charitable bequest works for anyone who would like to support Students Going Global in the future. Because you can change your mind at any time and make your gift in relative proportion to bequests to family and friends, this type of gift has universal appeal.

Profile of a Giver

  • You want to support Students Going Global after your lifetime.

  • You have a will or living trust, or are ready to create one.

  • You are young or old, wealthy or middle class.

  • You want to make a charitable gift while ensuring family is taken care of first.

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

  • You want estate tax relief.

How to Complete Your Gift to Include Students Going Global in Your Will or Living Trust

1. Choose what to give.
(Pick from one of these four options.)

  • A specific bequest gives us a particular piece of property. If you disposed of the property before your death, we won’t receive your intended gift because we cannot claim any other property.

  • A general bequest gives us a stated sum of money. If there is insufficient cash in your estate to cover the bequest, other assets will be sold for cash to honor your wishes for us.

  • A residuary bequest gives the “rest, residue and remainder” of your estate, or, more commonly, a percentage of the residue after all other bequests, debts and taxes have been paid.

  • A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if not, the funds would then go to Students Going Global.

            (You can also make your bequest in honor or in memory of someone special.)

2. Decide how you would like Students Going Global to use your gift.
(Choose from one of these three options.)

  • An unrestricted bequest allows us to use the assets in the most beneficial way.

  • A restricted bequest allows you to specify how we are to use the funds. Contact us in advance to be certain your intent can be fulfilled.

  • An endowment bequest allows you to designate the purpose of your gift. Your gift is invested with and becomes part of our endowment and a distribution is made each year. Because the principal remains intact, the fund will support our mission in perpetuity. Students Going Global currently has three endowment funds:

    Longevity Endowment Fund – This fund will ensure the long term stability, sustainability and success of Students Going Global.
    Building Endowment Fund – This fund will support the expansion and progression of Students Going Global and allow the organization to design and build its own place of business to conduct its operations.
    National Expansion Endowment Fund – This fund will support the expansion and progression of Students Going Global and allow the organization to become a national organization and start a chapter in different states throughout the US.

3. Meet with your estate planning attorney.
Whether you need to create a will or trust, or simply update an old document, you’ll want to seek the help of an estate planning attorney. If you do not currently have an estate planning attorney, we recommend estate planning attorney, Altinia Latinis. She provides charitable giving, estate planning consultations free of charge.

Latinis Fakhouri, PLC
Altinia Latinis, Estate Planning Attorney
26300 Telegraph Rd., Ste. 102
Southfield, Michigan  48033
(248) 945-3400 Phone / (248) 233-7866 Fax
www.lfhlawgroup.com / BBB: A rating as of 6/25/12

4. Let us know of your plans.
Please contact us to let us know when you have made plans for such a gift. We would love the opportunity to thank you for your generous act and are happy to honor any wishes regarding anonymity.

Thank you for your support of Students Going Global. Please contact us if you have any questions about endowments or naming Students Going Global in your will or living trust. We’re happy to help: giving@studentsgoingglobal.org

“Are Fingerprints don’t fade from the lives we touch.”

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