Planned giving refers to the process of making charitable donations as part of an individual's financial and estate planning. It allows individuals to support causes and organizations they care about while maximizing tax benefits and leaving a lasting legacy. Here are five benefits of planned giving:

1. Impactful Giving: Planned giving provides an opportunity to make a significant impact on the causes and organizations that matter to you. By incorporating charitable giving into your financial plan, you can support important initiatives, such as education, healthcare, environmental conservation, or social services, and contribute to their long-term sustainability.

2. Tax Advantages: One of the primary benefits of planned giving is the potential for tax savings. Depending on the jurisdiction and the nature of the gift, planned giving can provide donors with tax deductions, capital gains tax relief, reduced estate taxes, or even tax-free income. These financial incentives make it more advantageous for individuals to donate while also maximizing the benefit to the charitable organization.

3. Estate Planning: Planned giving allows individuals to strategically plan for the distribution of their assets upon their death. By including charitable bequests or establishing charitable trusts or foundations, donors can ensure their assets are used for philanthropic purposes in a manner aligned with their values and priorities. This enables individuals to leave a lasting legacy and continue supporting causes even after they are no longer present.

4. Flexibility and Customization: Planned giving offers flexibility in terms of how and when donations are made. Donors can choose from various options such as bequests, charitable gift annuities, charitable remainder trusts, donor-advised funds, and more. This flexibility allows individuals to align their charitable giving with their financial circumstances, personal preferences, and long-term goals.

It's important to consult with financial and legal professionals to understand the specific implications and benefits of planned giving based on your unique circumstances and jurisdiction or FILL OUT OUR INTEREST FORM to connect with our Development Manager, Bee directly.

As a nonprofit organization, Growing Gardens experiences several benefits from planned giving, including:

1. Long-term Financial Stability: Planned giving offers us a valuable opportunity to secure long-term funding. By encouraging individuals to include Growing Gardens in their estate plans or establish charitable trusts, we can establish a reliable and consistent source of financial support. This stability allows us to focus on our mission and plan for future programs and initiatives.

2. Diversification of Revenue: Relying solely on traditional fundraising methods can pose challenges for any nonprofit. By embracing planned giving, we can diversify our revenue streams. This diversification reduces our vulnerability to economic fluctuations and shifting funding priorities. It provides us with a more sustainable financial strategy, ensuring we can continue making a positive impact on our community.

3. Increased Donor Engagement: Planned giving helps us cultivate meaningful relationships with our donors. By discussing legacy giving options, we have the chance to connect with individuals who are deeply passionate about our cause. This engagement not only strengthens our ties with existing donors but also opens doors to new supporters. The conversations around planned giving create a sense of shared values and a lasting bond.

4. Legacy and Donor Recognition: Planned giving allows our donors to leave a meaningful legacy aligned with their values. We deeply appreciate and recognize the lasting impact of these contributions. By publicly acknowledging and honoring our planned giving donors, whether through naming opportunities or other means, we express our gratitude and inspire others to consider similar charitable contributions. It's a way for us to celebrate our donors' generosity and encourage others to follow in their footsteps.

At Growing Gardens, we understand the importance of establishing a comprehensive planned giving program. We aim to provide professional expertise and guidance to our donors, ensuring their planned giving aligns with both their wishes and our organization's goals. We encourage our donors to consult with legal and financial advisors to make informed decisions that will create a lasting legacy of support for our mission.

A bequest—a gift through your will or trust—allows you to care for the future of your loved ones while leaving a legacy that reflects your values. It’s a great way to make a significant and meaningful commitment today while preserving your assets for current needs.

If you don’t have a will or trust, you can create one today. With this trusted online tool you can write your legal will or trust, at no personal cost, while creating a legacy gift to support the future gardeners of Oregon.

Most bequest donors choose to make one of these types of gifts:

• Specific bequests
  You describe exactly what you want to leave to a family member or charity. If you want to leave a specific amount, or specific percentage of your estate, this is the type of bequest to use.
• Residuary bequest
  This is a gift of all the “rest, residue, and remainder” of your estate after all other bequests, debts, and taxes have been paid.
• Contingency bequest This type of bequest allows you to leave a portion of your estate to a particular charity if your named beneficiary predeceases you.

Share this sample bequest language with your legal advisor if you are creating your own will or trust.  

General Purpose Specific Bequest

I bequeath, ______ (insert dollar amount to be donated) Growing Gardens, or its successor organization, a nonprofit corporation as described in section 501(c)(3) of the Internal Revenue Code (Tax EIN 93-1213728.), with headquarters located at 3114 SE 50th Ave, Portland, OR 97206 to be used for educating the future food system leaders of Oregon.

General Purpose Residuary Bequest

I bequeath, ______ (insert % amount) of all the rest, residue, and remainder of my estate to Growing Gardens, or its successor organization, a nonprofit corporation as described in section 501(c)(3) of the Internal Revenue Code (Tax EIN 93-1213728.), with headquarters located at 3114 SE 50th Ave, Portland, OR 97206 to be used for educating the future food system leaders of Oregon.

Restricted Purpose Bequest

I bequeath, ______ (insert dollar amount, item of property, or % of residue) to Growing Gardens, or its successor organization, a nonprofit corporation as described in section 501(c)(3) of the Internal Revenue Code (Tax EIN 93-1213728.), with headquarters located at 3114 SE 50th Ave, Portland, OR 97206 to be used exclusively for [insert restricted use language here such as: for school gardens, etc.].

If you would like to make a bequest gift not described here, please contact our Development Manager Bee at Bee@Growing-Gardens.org to discuss your plans.

Have you already made a Bequest to Growing Gardens? You can REPORT YOUR CONTRIBUTION ON THIS FORM

Growing Gardens can be a primary or secondary beneficiary of your IRA or retirement plan.  This gift does not require a will or trust and can result in significant tax savings for your estate. Simply request a beneficiary designation form from your financial institution and name Growing Gardens as the beneficiary.

Have you already named Growing Gardens as a beneficiary? You can REPORT YOUR CONTRIBUTION ON THIS FORM

Do you have a life insurance policy that’s no longer needed? Consider naming Growing Gardens as the beneficiary. This type of gift does not require a will and can result in significant tax savings for your estate. Simply request a beneficiary designation form from your insurer and name Growing Gardens as the beneficiary of your life insurance policy.

Have you already named Growing Gardens as a life insurance beneficiary? You can REPORT YOUR CONTRIBUTION ON THIS FORM

If you are subject to Required Minimum Distributions from your tax-deferred retirement account (usually for those 70.5 and older), you can save taxes by donating it to Growing Gardens. Known as a Qualified Charitable Distribution, this payment must be made directly from your financial institution to a charitable cause. So, if you don’t need your Required Minimum Distributions, make a Qualified Charitable Distribution to Growing Gardens.

Have you already made a Qualified Charitable Distribution to Growing Gardens? You can REPORT YOUR CONTRIBUTION ON THIS FORM

A will is a legal document in which a person states who should receive their possessions after they die.

Yes. Every adult (over the age of 21) can and should leave instructions as to what will become of their worldly possessions.

In the absence of these instructions, state laws take over and your property may be distributed to distant relatives, or, if none are found, possibly to the state itself.

But wills can be simple and they do not always require an attorney. You can write a will online using a trusted tool such as FreeWill in a matter of minutes. 

While your current will may be just fine, it's important to acknowledge that circumstances can evolve and impact your plans. Significant life events like marriages, births, deaths, divorces, or even relocation to a different state can warrant a review of your plans.

If you have a desire to allocate a portion of your estate to charitable causes and institutions, including Growing Gardens, now might be an opportune moment to take proactive steps. 

Writing us into your will or trust is easy. Simply click on Bequests in the above section of this page and select the appropriate bequest language to add to your living will. 

Your will is typically treated as private unless you decide to disclose its contents. However, it's important to note that wills generally become part of the public record accessible through the court after your passing. On the other hand, trusts have the advantage of maintaining confidentiality.

If you choose to include Growing Gardens in your estate plans, we genuinely appreciate your consideration, and we would be grateful if you inform us about your decision so we can express our gratitude. You can do so using this simple form.

Alternatively, if you prefer to keep your bequest intention confidential, we completely understand. We respect your privacy and understand that you may not wish to share specific details or be able to determine the exact amount that will be designated for charitable gifts.

You can choose to share that you have included us (but not share the dollar amount). Or you can choose not to report your bequest to us at all. This is about helping YOU take control of YOUR legacy. 

Your estate includes your worldly possessions and property. In other words, your estate is composed of the assets and liabilities left behind in the event of your death.

When you take the time to document all of your belongings, you might be astonished to discover how they accumulate over time. If you have specific items that you wish to allocate to specific individuals, your will can serve as a valuable tool. Regardless of the extent of your estate, there are advantages to creating a basic will. By doing so, you ensure that your wishes are legally documented and provide clarity regarding the distribution of your assets.

A trust is a type of relationship where one party, known as the trustee or fiduciary, is entrusted with the responsibility of managing property on behalf of another party, known as the beneficiary.

The trustee holds the power to oversee and handle the property, while the beneficiary has the right to enjoy the benefits.

This arrangement ensures that the trustee acts in the best interests of the beneficiary and upholds their duty to manage the property responsibly and in accordance with the terms of the trust.

A living trust, also known as an inter vivos trust, is a type of trust that takes effect during the lifetime of the person who creates it, known as the settlor. There are two main types of living trusts:

1. Revocable Trust: With a revocable trust, the settlor retains the ability to make changes or even revoke the trust entirely at any point during their lifetime. This flexibility allows for modifications to the trust's terms, beneficiaries, or assets as circumstances or preferences change.

2. Irrevocable Trust: In contrast, an irrevocable trust does not grant the settlor the same level of control. Once the assets are transferred into an irrevocable trust, the settlor relinquishes ownership. As a result, changes to the trust become more challenging, if not impossible, to make. The assets in an irrevocable trust are typically protected from estate taxes and may provide other benefits, but the settlor no longer has direct control over them.

Gifts of Real Estate are considered on a case-by-case basis. If you would like to gift Growing Gardens a Real Estate asset, please reach out to our Development Manager, Bee at [email protected].

It really depends on the donation and these decisions are made on a case-by-case basis.

For example, while we may gladly accept a truck under the right circumstances, we are far less likely to accept gifts of art. 

If you would like to gift an asset, please reach out to our Development Manager, Bee at [email protected] to share more.