A gift of your life insurance policy is an excellent way to make a gift to the Wayne Area Legacy Fund.
If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your policy to the Wayne Area Legacy Fund. An example of this may be that you purchased a policy to provide for minor children and they are now financially independent adults.
There are many benefits of giving a gift of life insurance such as receiving a charitable income tax deduction. Additionally, if the Wayne Area Legacy Fund retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums.
If the Wayne Area Legacy Fund cashes in the policy, you will be able to see firsthand how your gift supports our charitable work. If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so we can use the proceeds to further our charitable work.
To make a gift of life insurance, please contact your life insurance provider. Then contact us to receive the wording to use on your beneficiary designation form for your gift.
You can designate the Wayne Area Legacy Fund as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.
You can visit Nebraska Community Foundation’s Gift Planning website – www.ncfgift.org – to begin the process of donating. You can also find details on the benefits and process of making a charitable gift for other out-of-the-box giving methods beyond cash. Wayne Area Legacy Fund is also always available to point you in the right direction at www.WayneAreaLegacyFund.org.
Wayne Area Legacy Foundation harnesses the power of giving to make the Wayne Area a great place for all ages to live, work and play for generations to come.
We invite you to be a part of the legacy of promoting progress in our area by giving to the unrestricted endowment. Similar to a community savings account, unrestricted endowments are an important tool to keep hometowns across Nebraska growing, thriving and improving future generations. A portion of the income earned by the endowment is granted annually to fund projects and programs to benefit the community, the principal remains intact and grows every year.
The Wayne Area Legacy Fund (WALF) has invested over $50,000 back into the Wayne Area community since the inception of the fund. The WALF is an affiliated fund of the Nebraska Community Foundation (NCF), a 501(c)(3) charitable organization. All contributions to WALF are tax-deductible. Visit WayneAreaLegacyFund.org for additional information. Be sure to check out our website at www.WayneAreaLegacyFund.org and like us on Facebook @WayneAreaLegacyFund.
Nebraska Community Foundation unleashes abundant local assets, inspires charitable giving and connects ambitious people to build stronger communities and a Greater Nebraska.
Headquartered in Lincoln, the Foundation serves communities, donors and organizations by providing financial management, strategic development, education and training to a statewide network of 1,500 volunteers serving over 270 communities.
In the last five years, 45,915 contributions have been made to NCF and its affiliated funds. Since 1994, NCF has reinvested $423 million in Nebraska’s people and places. For information, visit NebraskaHometown.org.
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