Planned giving
This Foundation is itself a legacy gift.
In 2015, three siblings decided that what their parents believed should outlast their parents. They put Charles and Alice Taylor’s names on a scholarship and paid for it themselves for nine years. Alice has since died, and the scholarship carries her forward.
So if you are weighing whether to leave something behind for a purpose rather than only for people — we are not going to pretend we do not understand the question. This organization is somebody’s answer to it.
What a legacy gift does here
It buys the one thing an annual gift cannot: time.
Almost everything this Foundation funds runs on a season. A registration deadline in March. A camp in July. A scholarship named in May. That works, and it is also why so much of the year is spent raising money for things that have already been decided.
A planned gift is the opposite kind of money. It lets an organization commit to a girl in September rather than hope in March, and it lets a board plan in years rather than in quarters. For an organization this young, that is not a nice addition — it is the difference between a program and an institution.
And it costs you nothing now.
The common routes
Four ways people usually do this.
None of them require you to part with anything today, and every one of them can be changed later if your circumstances change.
The most common form, and the simplest. You name the Foundation in your will for a specific amount, a percentage of your estate, or whatever remains after the people you love are taken care of. Your attorney adds a paragraph; the exact wording is further down this page.
This is usually the most tax-efficient thing a person can leave to a charity, and most people are never told so. A child who inherits a retirement account generally owes income tax on the money as they withdraw it. A nonprofit does not. The same account is therefore worth meaningfully more to us than to an heir — which sometimes means a family can give more away and still leave their children the same amount.
It is also among the easiest to arrange. It is a beneficiary form with your plan administrator, not a change to your will.
A policy taken out when children were small often outlives its purpose. You can name the Foundation as a beneficiary for all or part of it, or transfer ownership of the policy outright. Either is a beneficiary form rather than a legal proceeding.
Most banks and brokerages let you name a beneficiary directly on an account, which passes outside probate. It takes one form and it can be undone at any time.
Charitable gift annuities, charitable remainder trusts and gifts of real estate or land are all possible and all more involved. If one of those is what you have in mind, write to us and we will work through it with you and your advisors rather than pretending it fits in a paragraph.
For your attorney
The exact language, ready to hand over.
Most organizations make you call and ask for this. Here it is. Take whichever version fits, fill in the highlighted parts, and give it to whoever is drafting your will — they will recognize it immediately.
A specific amount
The simplest versionI give, devise, and bequeath to The Taylor LEAD Foundation, a nonprofit corporation organized under the laws of the State of Idaho, with its principal office at P.O. Box 8744, Boise, Idaho 83707, and Federal Tax Identification Number 99-2465893, the sum of $____________, to be used for its general charitable purposes.
A percentage of your estate
Keeps its proportion as your estate changesI give, devise, and bequeath to The Taylor LEAD Foundation, a nonprofit corporation organized under the laws of the State of Idaho, with its principal office at P.O. Box 8744, Boise, Idaho 83707, and Federal Tax Identification Number 99-2465893, ____% of my estate, to be used for its general charitable purposes.
What remains after everyone else
A residuary bequestI give, devise, and bequeath to The Taylor LEAD Foundation, a nonprofit corporation organized under the laws of the State of Idaho, with its principal office at P.O. Box 8744, Boise, Idaho 83707, and Federal Tax Identification Number 99-2465893, ____% of the rest, residue, and remainder of my estate, to be used for its general charitable purposes.
Only if others do not survive you
A contingent bequestIf ____________ does not survive me, or shall die during the period of administration of my estate, then I give, devise, and bequeath such property to The Taylor LEAD Foundation, a nonprofit corporation organized under the laws of the State of Idaho, with its principal office at P.O. Box 8744, Boise, Idaho 83707, and Federal Tax Identification Number 99-2465893, to be used for its general charitable purposes.
On “general charitable purposes.” That phrasing lets a future board put your gift where it is most needed, which is usually the most useful thing an unrestricted gift can do. If you would rather direct it — to the scholarship, to IX Grants, to a particular program — that is entirely possible and we would want to talk it through first, so that what you write can actually be honored in twenty years.
Everything a form will ask you for
- Legal name
- The Taylor LEAD Foundation
- EIN
- 99-2465893
- Incorporated
- State of Idaho
- Address
- P.O. Box 8744, Boise, Idaho 83707
- Status
- 501(c)(3) public charity
While you are living
If you are 70½ or older and have an IRA, there is a route worth asking about.
A qualified charitable distribution lets you give directly from an IRA to a charity once you reach a certain age, without the withdrawal counting as taxable income. For people who take required minimum distributions they do not especially need, it can be a better outcome than giving the same money after tax.
It is worth knowing that QCD eligibility starts at 70½ while required minimum distributions do not begin until 73 — different ages, and people routinely wait for the second without realizing they qualified for the first. The annual limit is indexed and changes each year. The current figures and how to send one are on Ways to Give →
If you decide to do it
You do not have to tell us. We would like it if you did.
A bequest is a private decision and it stays yours. But there are two practical reasons people let an organization know, and neither of them is about recognition.
So we can make sure it works
Charitable bequests fail more often than people expect — a misspelled name, a missing EIN, an organization that has since merged or dissolved. If you tell us the wording you have used, we can check it against our legal details and tell you if something would cause a problem. That is the whole favor.
So we can thank you while you are here
It is a strange feature of this kind of gift that the organization usually finds out about it far too late to say anything. If you would like to be acknowledged we will do it however you prefer — and if you would rather it stayed entirely private, that is equally fine and we will keep it that way.
Nothing on this page is binding. A bequest can be changed or removed at any time, for any reason, without telling anyone — including us. Circumstances change and people change their minds, and an organization that would make you feel awkward about that does not deserve the gift in the first place.
No pressure attached
If you want to talk it through, we will talk it through.
There is no script for this conversation and nobody here works on commission. If you are only exploring, say so and we will treat it that way. If you would rather your attorney or advisor contacted us instead of you, that is completely normal and we are glad to work with them.
This page is information, not advice. We are not attorneys, accountants or financial advisors, and nothing here should be relied on as legal or tax advice. Every situation is different, and anything involving your will, your retirement accounts or your estate should be reviewed by your own professional advisors before you act on it.
The Taylor LEAD Foundation · P.O. Box 8744, Boise, Idaho 83707 · 501(c)(3) · EIN 99-2465893 · hello@taylorleadscholarship.com · 208.477.1522