Gift & Estate Planning

Giving

We're here to help!

Contact Ellen Tolleson Hegge at 507-424-0207 or ellen@rochesterarea.org with any of your questions about opening or giving to a fund.

Velva Gitsch (1911-2017) left a portion of her estate to the Better Communities Fund at Rochester Area Foundation to support the community that had been her home since 1948. Her gift continues to impact area nonprofits every year through our competitive grant cycles.

Gift & Estate Planning

Make the community an heir – and provide ongoing support for the causes you care about – by leaving a gift to Rochester Area Foundation in your will or estate plan.

Establishing a planned gift is easy. Our knowledgeable staff are always available to assist you and your advisor in achieving your charitable objectives now and in the future.

Ways to Make a Planned Gift:

Bequest

The simplest way to leave a planned gift is to include specific language in your will naming Rochester Area Foundation (or a specific fund held here) as the recipient of a specific dollar amount, a percentage of your estate or the residual assets after other bequests are satisfied.

Giving Through A Bequest May Be Appropriate If …

You want to retain the ability to access your gift assets during your lifetime.
You do not need an immediate income tax deduction.
You want the flexibility to change your gift at any time.

When making your beneficiary designation, please use the following legal name and Tax Identification Number: Rochester Area Foundation / Tax ID: 41-6017740

Life Insurance

Life insurance is one of the easiest ways to leave a legacy. If the policy premiums are complete, simply name Rochester Area Foundation as beneficiary. If premium payments are needed, you may assign your insurance policy to RAF and continue to make annual, tax-deductible contributions to cover the premium.

Giving Life Insurance May Be Appropriate If …

You are purchasing a new policy, or your existing policy is paid up or has substantial cash value.
You have no outstanding loans against the policy.
Your loved ones are well provided for by other means.

When making your beneficiary designation, use the following – Legal Name: Rochester Area Foundation / Tax ID: 41-6017740

Retirement Plan Assets

When retirement assets pass to your heirs, they can be subject to both estate and income taxes. As a result, many donors elect to designate Rochester Area Foundation as the beneficiary of their retirement accounts, including IRAs, 401(k)s or 403(b)s.

Giving Retirement Assets May Be Appropriate If …

You have an IRA, 401(k), 403(b) or other tax-deferred retirement plan.
Your loved ones are provided for by other means.
You want the flexibility to change your gift at any time.

When making your beneficiary designation, use the following – Legal Name: Rochester Area Foundation, Tax ID: 41-6017740

Charitable Gift Annuity

A charitable gift annuity allows you to make a tax-deductible gift today and receive a guaranteed income for your lifetime and the lifetime of another, if you choose. Annuity payments may begin now or be deferred. The older the donor, the more favorable the annuity payment. CGA donors receive significant tax benefits, including an immediate charitable tax deduction for a portion of the gift amount, and a portion of each income payment is considered a tax-free return of principal.

Giving With A Charitable Gift Annuity May Be Appropriate If …

You are at least 60 years old.
You want the security of fixed, dependable payments for life.
You would like an immediate charitable deduction and partially tax-free income.
You are considering a gift of $100,000 or more.

To learn more about establishing a charitable gift annuity, and to receive an estimate for annuity payments that could be available to you as a result of your gift, please call or email RAF at 507.282.0203 or giving@rochesterarea.org.

Is Rochester Area Foundation included in your will or estate plan? Please let us know by sending this confidential Statement of Intent [PDF] to document the impact you plan to make through your gift. Information you provide is not legally binding and may be changed at any time in the future.