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Create a legacy for you or a loved one that will impact lives today or for the future!

Wills and Trusts

Your last will and testament or trust are the vehicles through which you may pass on your legacy to family, friends and charitable organizations that you support. You may make a bequest to Pathlights by directing in your will and/or other documents that certain assets be transferred to Pathlights after your death. You can structure the bequest to be a specified sum of money, a percentage of your estate or as a contingent bequest. During your lifetime, such assets will remain in your control and you may modify the bequest to address your changing circumstances. We encourage you to discuss your bequest plans with your attorney or financial advisor and please, let us know if you’ve chosen to add us to your will or trust.

Creating a bequest can be as simple as added a few sentences to your current will. Sample language for a gift in your will or trust:

I give to Pathlights Human Services (doing business as Pathlights), an Illinois not-for-profit organization, XX (insert percentage or specific amount) in support of its full mission. Federal tax identification number: 36-2882809.

Charitable Remainder Trust

Charitable remainder trusts are irrevocable trusts that allow you to donate assets to charity and draw income for yourself or a beneficiary for a specific term.  At the end of the term, the remaining funds in the trust are donated to Pathlights.

Charitable Lead Trust

In a Charitable Lead Trust, a donor-funded trust provides fixed, scheduled donations (payments) to Pathlights for a set term. After the term expires, funds are returned to the donor or other listed beneficiaries.

Life insurance policies

A life insurance policy is one way many people are able to make a larger charitable gift then they may have originally thought possible. It is an attractive option for making donations because it offers flexibility to both the donor and the charity. The two ways to donate life insurance are by making the charity the owner and beneficiary of the policy or by making them solely the beneficiary. Doing so can reduce the value of your taxable estate while allowing you to leave a legacy.

Using your traditional IRA to make a charitable gift to Pathlights offers you the opportunity to play a role in strengthening your neighborhood while also receiving important personal tax benefits. If you are at least 70 ½ years old, you can make an annual contribution of up to $100,000 from your IRA directly to a qualified nonprofit organizations such as Pathlights. Your IRA contribution allows you to satisfy all or part of your required minimum distribution—tax-free. (Tax ID/EIN# 36-2882809)

Making a gift of securities offers you the chance to support work within your community while also receiving important personal benefits. Generally, if your assets have appreciated in value, it’s best not to sell securities to generate the cash you need for a donation. Contributing the securities directly to the charity increases the amount of your gift as well as your potential deduction. Through a gift of appreciated stock, you receive a charitable income tax deduction for the full fair market value of the securities, while also helping you avoid capital gains taxes on appreciated stock. This allows you to maximize your gift.

A donor advised fund (DAF) gives you the flexibility to recommend how much and how often money is granted to Pathlights and other qualified charities. It is funded by a donor’s tax-deductible contributions of cash, stock, or other assets. Contributions to a DAF have the potential to grow, tax-free, over time and donors retain the right to recommend grants from the DAF to eligible charities of their choice. You can recommend a grant or recurring grants now for immediate impact or use your fund as a tool for future charitable gifts.

Many companies and organizations will match or even multiply your charitable contribution, significantly increasing your gift.  Companies may match many kinds of gifts, including one-time gifts, monthly pledges, workplace giving, and donations of professional services. Talk to your HR department on how to participate in supporting Pathlights.

Many of the above ways to give will require you to meet with your financial advisor and/or attorney. Please contact us at donations@pathlights.org if you have questions or plan to make a gift to Pathlights.