Gift and Estate Planning

Pete and Jill Lundberg (with Lulu and Stella) are leaving the majority of their estate to MCF, ensuring permanent annual grants to support Madison-area nonprofits through the Community Impact Fund.

Make the community your heir - and provide ongoing support for the causes you care about - by leaving a gift to Madison Community 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 Madison Community Foundation 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 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: Madison Community Foundation / Tax ID: 39-6038248

Click here for sample text to consider when including Madison Community Foundation in your will or estate plans.

Life Insurance

Life insurance is one of the easiest ways to leave a legacy. If the policy premiums are complete, simply name Madison Community Foundation as beneficiary. If premium payments are needed, you may assign your insurance policy to MCF 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: Madison Community Foundation, Tax ID: 39-6038248

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 Madison Community 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: Madison Community Foundation, Tax ID: 39-6038248

Charitable Gift Annuity (CGA)

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 $10,000 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 David Koehler, Vice President, Donor Engagement: 608-232-1763 or dkoehler@madisongives.org.

Is Madison Community 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.

I will always appreciate the fact that MCF made it possible, when we were young, to establish a way to make a lasting contribution to our community."

– Orange Schroeder, donor, fundholder, Legacy Society member

MCF is offering donors a special 75th Anniversary matching gift opportunity! Learn how you can be part of the celebration.