The Legacy Society
The Legacy Society is a group community members who have demonstrated their extraordinary commitment to Open Inn’s mission to empower children, youth and families to experience and develop positive self-worth by making a planned gift to Open Inn.
Legacy Society members provide the promise of a strong future for Open Inn and for Arizona’s youth and families. There are a range of ways to make a lasting contribution toward a better Arizona and to ensure Open Inn’s continued strength in the community for years to come. You may designate Open Inn, Inc. as a beneficiary in your will, trust, retirement plan, or insurance policies.
A charitable bequest is a gift of assets to a charity through a will. A bequest allows you to make a substantial contribution that you may not have been able to make while living; it operates like a post-dated check payable only after death. At the same time, it is revocable you can change your bequest at any time should your circumstances change.
There are four different ways to make a charitable bequest: specifying a percentage of the estate, a dollar amount, a specific asset, or a residue of the estate following the satisfaction of other bequests.
A specific bequest directs that a charity receive a specific piece of your estate. For example: “I give to Open Inn, Inc. (Federal Tax ID Number 86-031899) all (100%) of my shares in the XYZ Mutual Fund, to be used for the general purposes of said charity.”
A general bequest instructs that a charity receive a specific amount of a certain kind of property, usually a sum of money. For example: “I give to Open Inn, Inc. (Federal Tax ID Number 86-031899), the sum of $________ to be used for the general purposes of said charity.”
A residual bequest designates all or a portion of whatever remains of the estate after all debts, taxes, expenses and other bequests have been paid. For example: “I give to Open Inn, Inc. (Federal Tax ID Number 86-031899), fifty per cent (50%) of the residue of my estate, including, without limitation, real and personal property to be used for the general purposes of said charity.”
A contingent bequest comes into effect only if the primary intention of your will cannot be met (e.g., if the primary beneficiary of the will does not survive you). This ensures that property will pass to the charity rather than unintended beneficiaries (such as the government).
Planned gifts and bequests may be applied to specific projects or programs or used as unrestricted gifts to ensure the long-term financial well-being of Open Inn, Inc.
For any planned gift, please consult your financial advisor.
For more information concerning your estate planning and options with Open Inn, please contact the organization’s Executive Director at (520) 670-9040 or firstname.lastname@example.org.