Welcome to the RC Legacy Society
For many of us, involvement with organizations or causes we feel strongly about seems only natural. We are committed to helping fulfill a specific mission and desire to see them move forward to achieve it, even if it takes many years or even generations. These are often programs or organizations you have been personally involved with or perhaps directly benefited from. They may be social service associations or organizations like Ratio Christi which strive to provide the impetus for the next generation of Christian leaders, to grow and remain strong in their faith.
To help insure the continuance of our efforts to win and strengthen young people’s faith, we have created a “R.C. Legacy Society”. The purpose of which is to inform you, our faithful supporters, that there are unique ways you can support the important work of Ratio Christi, even after you’re gone.
Over the years, financial and legal planners have created a number of “instruments” or strategies that you can employ to accomplish your specific wishes. While some bequests are quite simple to create, others would require you to seek the guidance of your financial advisor and/or attorney. Typically, all of these types of gifts would offer you significant tax benefits.
BENEFITS OF LEGACY GIVING
Some of the terms often used to describe giving through a trust or will include simplicity, flexibility, control, tax relief, and satisfying. This is because you are in control of the gift designation and can modify it, should your circumstances change. Knowing that your gift will be there for Ratio Christi, and that it will have long-term effects on the mission, will bring satisfaction and further confirm your legacy.
BENEFITS OF LEGACY SOCIETY MEMBERSHIP
As a “Legacy Society” member, you are confirming your desire to see the mission and vision of Ratio Christi continue and to bless future generations. Your gift will automatically quality and enroll you in the R.C. Legacy Society. As a member, and if you inform of us your gift, you will periodically receive personalized updates on the accomplishment of Ratio Christi by the President of Ratio Christi or his representative. You will also receive recognition for your gift (if desired) in our printed material, such as our Annual Report. To confirm your membership in the R.C. Legacy Society, you will receive a beautifully printed certificate of membership, and our sincere appreciation for joining our RC family.
EASILY STUCTURED GIFTS (BEQUESTS)
Specific Bequest: A specific bequest involves making a gift of a specific asset, such as cash, real estate, a vehicle or other tangible property. For example, you may want to leave a vacation home or specific dollar amount in your will or trust.
Percentage or Residual Bequest: This form of gift involves leaving a specific percentage of your estate. For example, you may wish to designate that 10% of your estate go to Ratio Christi.
Residual Bequest: This type of gift is made from the balance of your estate after the will or trust has given away each of the specific bequest to the beneficiaries. A common residual bequest involves leaving a percentage of the residue of the estate to the charity, in this case, Ratio Christi. For example, you may wish to leave to Ratio Christi 25% of the residue of your estate once beneficiaries, taxes and any other outstanding debt issues are resolved.
Contingent Bequest: A contingent bequest is made to the charity, only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a motorhome, to a relative, but the bequest language could provide for the possibility that the relative is not alive or able to assume ownership at the time of your death, the motorhome would then go to Ratio Christi.
Insurance Policies: A no longer needed insurance policy is a great means of making a legacy gift to Ratio Christi. You can simply change the beneficiary on the policy to Ratio Christi a non-profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27-4733824
Retirement Plans: As with the insurance policy, a retirement plan can be designated to Ratio Christi. Properly designated, the account will bypass probate, avoid taxation and reduce the size of your taxable estate.
“SAMPLE WORDING”
The sample wording shown below is only offered as samples of the language that is typically used in each type of gift. It is recommended that you contact your attorney or financial advisor for language that relates to your specific situation and desire.
Specific Bequest
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Ratio Christi, a non-profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27-4733824
Gift of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at _________________________ to Ratio Christi, a non-profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27-4733824
Percentage Bequest
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Ratio Christi, a non- profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27-4733824.
Residual Bequest
I hereby give, devise and bequeath to Ratio Christi a non- profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27-4733824, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for their general use and purpose.
Contingent Bequest
If my primary beneficiary survives me, I devise and bequeath ALL or ___% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to my primary beneficiary. If my primary beneficiary does not survive me, then I devise and bequeath ALL or ___% of my residuary estate, whether real or personal property and wherever located to Ratio Christi, a non-profit organization located at PO Box 9 Indian Trail, N.C. 28079, Federal Tax Identification Number, 27- 4733824.
Another category of bequests is called Life Income gifts, as they both make a contribution to the charity, but also provide income and tax benefits to the donor.
LIFE INCOME GIFTS
A life income gift allows you to give assets to Ratio Christi, while providing yourself or others with income for a specific period of time, following that, Ratio Christi is permitted to use your gift. You may make a life income gift by transferring securities, cash, or other property to Ratio Christi or a trustee*. The trustee then manages the investment of the assets and pays an income to you, your designated beneficiaries, or both. Income payments continue for the beneficiaries’ lives or, in some cases, for a term of up to 20 years.
There are several kinds of life income gifts available to the donor which are designed to meet both ones philanthropic and financial desires.
Charitable Gift Annuities
In exchange for an outright gift, Ratio Christi agrees, by contract, to pay a fixed amount each year to you and/or another beneficiary for life. The amount is based on several factors such as age and size of gift and any other desired conditions of the donor.
Charitable Remainder Unitrusts
You establish a trust from which you and/or other beneficiaries receive variable annual payments for life and/or a term of years. At the end of the term, the remainder of the trust assets goes to Ratio Christi for the purposes you designate.
Charitable Remainder Annuity Trusts
You establish a trust from which you and/or other beneficiaries receive annual payments of a fixed dollar amount for life and/or a term of years, after which the remainder of the trust assets pass to Ratio Christi* for the purposes you designate.
Pooled Income Funds
Your gift goes into an investment pool that functions like a mutual fund. The investment returns are paid to you and/or other beneficiaries for life, after which your gift is withdrawn and used to support your designated purpose at Ratio Christi
OTHER TYPES OF GIFTS YOU MAY WANT TO CONSIDER
Charitable Lead Trusts
A charitable lead trust makes an annual payment to Ratio Christi* for a period of years, and at the end of the term, the remaining assets go to your children or other beneficiary.
Donor Advised Funds
A donor advised fund allows you to make a tax-deductible gift to Ratio Christi* to establish a fund today, and later advise the university on how you would like the gift used. At least half of the gift must be designated to Ratio Christi*, and the rest may support other charities.
DISCLAIMER
- When needed, Ratio Christi uses the services of the National Christian Foundation to structure and process certain types of bequests and planned gifts.
- The information in this description of “The R.C. Legacy Society” is not intended to be financial or legal advice, so we strongly recommend you contact your financial and/or legal advisor on how these general rules apply to you.
QUESTIONS?
To discuss your philanthropic and/or financial desires, please call Donald McLaughlin, Senior Director of Advancement at (574) 210-1003 or email: DonaldMcLaughlin@ratiochristi.org
THANK YOU… for considering to create a planned gift as a special way to bless the ministry of Ratio Christi. Your gift will help us strengthen and equip the next generation’s Christian leaders.