Fund Types for Future Funding
Contributions are planned from a future source such as a will, trust, retirement account or insurance policy.
Visit our Giving Legacy website for more resources.
Charitable Remainder Trust
- An irrevocable trust in which donors transfer cash or assets to a trust from which they are entitled to receive income payments annually for life or a defined period (not to exceed 20 years)
- LBCF is named as the beneficiary of any funds remaining upon death of the donor
Charitable Gift Annuity
- A contract between a donor and LBCF, whereby the donor transfers cash or property to LBCF in exchange for a partial tax deduction and a lifetime stream of annual income from LBCF. The amount of the income stream is determined by many factors including donor’s age and LBCF policy.
- When the donor dies, remaining assets accrue to LBCF.
- Parameters are outlined with a Memorandum of Philanthropic Intent which is referenced in a will, trust or another funding source.
The fund is officially established when funds are received upon the death of the donor.
Visit our Legacy website for extensive gift planning resources
or contact us at (562) 435-9033.