Gift Planning 101: Young or Old, You Make a Difference Through Giving
Sarah Phillips has a passion for Emporia State University and she wants to share that enthusiasm with future Emporia State students through philanthropy.
As a young alumna, Sarah has not yet built those lifetime assets that can provide an outright gift. Through gift planning, though, she is able to meet a personal and philanthropic goal just five years after earning her degree. These planned gifts are typically made from assets in one's estate rather recycled paper than disposable income, and come to fruition upon a person's death.
"A music scholarship drew Sarah to Emporia State," says Angela Fullen, development officer for Emporia State University Foundation. As the first in her family to go to college, the scholarship figured prominently in her decision to attend Emporia State. "She came up with the idea to give back through life insurance."
Sarah is making a charitable gift through life insurance proceeds and naming Emporia State University Foundation as both the owner and the beneficiary of a policy on her life.
Giving through life insurance has created the opportunity for Sarah to give more than she thought possible at this stage of her life. "Think creatively," she says. "If you think you can make a difference, you can. If you are 27 or 67, you can make a difference."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.