PLANNED GIVING INFORMATION
Cash, securities, real estate or property of any description may be bequeathed to the Impact-Cando Connection Fund or another Cando-area nonprofit entity by a clause in the donor's will or by a codicil added to the will. A donor using this method retains full control and use of the property during her/his lifetime and may alter or revoke the bequest at any time.
At the time of the donor’s death, the bequest qualifies as a charitable deduction for estate tax purposes. The bequest does not, however, provide any tax advantages during the donor’s lifetime. Nor does it provide an assured income for donors or their beneficiaries, as other plans do, such as split interest trusts or charitable gift annuities.
The following are recommended examples that may be used to make a gift to the Impact-Cando Connection Fund or other area nonprofit entity through a will. Donors are advised to contact their attorneys for legal advice regarding the language of such gifts.
I give $ to Impact Foundation, a not-for-profit organization incorporated in the State of North Dakota and having its principal office at 4141 28th Avenue South, Fargo, North Dakota 58104, for the Impact-Cando Connection Fund.
Specific Devise or Bequest
I give all interests that I own at my death in (describe the specific property) to the Impact Foundation, a not-for-profit organization incorporated in the State of North Dakota and having its principal office at 4141 28th Avenue South, Fargo, North Dakota, 58104 for the Impact-Cando Connection Fund.
I give the residue of my estate (consisting of all property owned by me at my death or acquired by my estate and not effectively disposed of by the other provisions of this will) to Impact Foundation, a not-for-profit organization incorporated in the State of North Dakota and having its principal office at 4141 28th Avenue South, Fargo, ND 58104, for the Impact-Cando Connection Fund.
Codicil to Will
I, _________ , a resident of _________ County, ______ [State}, declare this to be the [First] Codicil to my Will dated _______________. I now amend my Will by inserting a new Paragraph ___, which shall read as follows: [insert gift clause in same form as if it had been included in the Will]. *** Except as expressly cancelled, revoked, added to or otherwise amended by this codicil, I now ratify, republish and redeclare my Will dated _______________.
It is strongly recommended that an estate planning attorney be employed to prepare the will or codicil and to supervise its execution in order to comply with all the requirements of the law of the state in which the maker of the will resides, as well as the provisions of the Internal Revenue Code governing the deduction of charitable gifts and bequests. It is also wise to give the Impact Foundation and Impact-Cando Connection Fund considerable latitude in the use of the fund so that a change of circumstances may not impair the usefulness of the gift. The appropriate planned giving staff of the Impact Foundation will be glad, upon request, to review the phrasing of any proposed form of bequest, subject to the donor’s attorney's approval.
Should any donor(s) wish to give a gift directly to another Cando-area nonprofit entity, the Impact-Cando Connection Fund Advisory Board members strongly encourage this charitable GiveBack to ensure the viability and vitality of our hometown.
For further information on planned giving, visit www.impactgiveback.org, click on Donate What I Can, and select Develop Your Charitable Strategy from the menu on the left side of the page.