One way to support New Directions for Women’s mission is to leave us a bequest. A bequest is a gift made to charity in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use any property you will leave to charity during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy. We are so humbled by the individuals who choose to leave their legacy at NDFW, so that countless women and families can get the help they need for years to come.
We’re grateful to Howard and Katherine Bland for committing planned gifts through their estates, ensuring we can provide addiction treatment care when families need it most – even generations from now.
In this video, Howard Bland shares his journey of involvement – from visiting on behalf of his company in the early 1980’s and falling in love with the cause, to leading the board in a major capital campaign in 1987, to pledging major gifts to our endowment fund today. His and his wife Katherine’s pledges will help ensure our doors stay open women and family recovering from substance use disorder for decades to come. Howard was a close friend of founding family member Lyn Wilder, who always shared “to be happy in life, you’ve got to have gratitude, and love and service.”
Types of Bequests
There are a number of ways you can make a bequest to New Directions for Women Foundation. You can leave what is called a specific bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $100,000 to New Directions for Women Foundation. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to New Directions for Women Foundation.
Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 50% of the residue of your estate to New Directions for Women Foundation.
Bequest Benefits
There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to New Directions for Women Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Outright Bequest
If you are considering making an outright bequest to New Directions for Women Foundation, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby, give, devise and bequeath $DOLLARS to New Directions for Women Foundation, a non-profit organization located at 2607 Willo Lane, Costa Mesa CA 92627, Federal Tax ID 20-3295837, for New Directions for Women Foundation’s general use and purpose.
Bequest of Specific Personal Property
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to New Directions for Women Foundation, a non-profit organization located at 2607 Willo Lane, Costa Mesa CA 92627, Federal Tax ID 20-3295837, for New Directions for Women Foundation’s general use and purpose.
Bequest 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 ADDRESS OR DESCRIPTION OF PROPERTY to New Directions for Women Foundation, a non-profit organization located at 2607 Willo Lane, Costa Mesa CA 92627, Federal Tax ID 20-3295837, for New Directions for Women Foundation’s general use and purpose.
Bequest of Percentage of an Estate
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to New Directions for Women Foundation, a non-profit organization located at 2607 Willo Lane, Costa Mesa CA 92627, Federal Tax ID 20-3295837, for New Directions for Women Foundation’s general use and purpose.
2. Restricted Bequest
If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose (for example: campus maintenance or for the Pamela Wilder Scholarship Fund), please let us know. We would be happy to work with you and your attorney to craft language to accomplish your objectives.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give New Directions for Women Foundation flexibility should it no longer be possible for our New Directions for Women Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Directors of New Directions for Women Foundation, it shall become impossible for New Directions for Women Foundation to use this bequest to accomplish the specific purposes of this bequest, New Directions for Women Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Retirement Plan Beneficiary Designation
You may name New Directions for Women Foundation as a beneficiary of your IRA or qualified retirement plan (such as a 401(k), 403(b), Keogh or profit-sharing pension plan). To do so, simply contact your plan custodian for a change of beneficiary form. Please note our address 2607 Willo Lane, Costa Mesa CA 92627 and Federal Tax ID 20-3295837.
Passing such assets on to heirs can result in heirs paying income tax on the gift at their rate, and in your estate paying taxes (state and/or federal). Alternatively, naming InterVarsity as a retirement plan beneficiary and passing other less tax-burdened assets to heirs may mean less taxes for them and your estate. Be sure to consult your tax advisor regarding your circumstances.
Other Beneficiary Designations
New Directions for Women Foundation can be added as a beneficiary of an insurance policy. Money held in brokerage and banking accounts can be directed to New Directions for Women Foundation. Contact your insurance agent or the administrator of your financial account for procedures. Please note our address 2607 Willo Lane, Costa Mesa CA 92627 and Federal Tax ID 20-3295837.
