Planned Giving - Frequently Asked Questions

With more than 75 years of experience in the community, Madison Community Foundation can help you plan your giving for greatest impact and help you achieve your philanthropic objectives today, and create a legacy for the future.

What is planned giving?

Planned giving is philanthropy combined with smart financial planning. It helps you make the most of your assets during your lifetime and helps you make future charitable gifts that are often much larger than you may have thought possible.

Planned gifts use financial, estate, and tax planning techniques that can lower your income and estate taxes, and reduce (or eliminate altogether) capital gains taxes. Some planned gifts give you a stream of income during your lifetime while others enable you to continue enjoying the use of an asset even after you have given it away to charity.

Together with your financial and legal advisors, we help you make an impact on the charitable organizations you care about while making the most advantageous financial decisions for you and your family.

How do I make a planned gift to MCF?

The simplest way to make a planned gift through Madison Community Foundation is to name us as a beneficiary of your retirement plan or life insurance policy.

You may also include language in your will or trust to name Madison Community Foundation as the recipient of a specific dollar amount, a percentage of your estate, or the residual assets after all other bequests are satisfied. View sample language here

You may also establish a charitable gift annuity that provides you with a lifetime income. 

Who decides how my gift will be spent?

Essentially, you do. When you create your Statement of Intent with Madison Community Foundation, you outline how your planned gift will be used to benefit the causes you care about most. You may designate specific charities, fields of interest, or existing funds at Madison Community Foundation to receive the annual distributions.

You may also name your heirs or other individuals to advise the fund and recommend individual grants each year for as long as they’re willing and able to do so. If your plans require more details, these can be captured in a customized Letter of Understanding.

By informing us of your planned gift, you help us prepare for the future. You also give us the opportunity to thank you for your gift, ensure your giving instructions are clear, and invite you to join the Legacy Society.

How much money do I need to give?

Donors can leave gifts of any amount to Madison Community Foundation in their estate plans. There is no minimum for gifts made to Madison Community Foundation's Community Impact Fund or any of the Field of Interest Funds. The minimum amount to establish a new named fund is $15,000 for most endowments, $50,000 for a nonprofit endowment, $100,000 for a field of interest endowment, or $30,000 to establish a new charitable gift annuity. Learn more about starting a fund.

How long will my fund last?

The goal is for your fund to last forever. Because Madison Community Foundation holds funds that are endowed to preserve legacies and benefit future generations, the Investment Committee engages in careful stewardship to provide performance and protection of assets during positive and negative economic climates.

Charitable assets are invested for long-term growth, with diligence and attention given providing a smooth and predictable flow of distributions while preserving intergenerational equity.

What is the Legacy Society?

The Legacy Society honors those who have made the meaningful decision to leave a gift to Madison Community Foundation in their will or estate plan. To become a member, we request some form of documentation reflecting your commitment (providing as much or as little detail as you are comfortable) and that a portion of your gift benefits a new or existing endowment.

Member benefits include invitations to special programs and events, acknowledgement in our annual report and other publications, and more.

Learn More About Where to Give