Leaving a Legacy
You can ensure the future of your spiritual community by giving to the Center for Spiritual Living, Palm Springs in any of the following ways:
- An outright gift of cash, stocks, bonds, real estate, etc.
- A bequest in your will or trust
- As a beneficiary designation on an annuity or life insurance policy
- As a beneficiary designation on a retirement account (IRA, 401K, 4035, etc.)
- Through a Charitable Remainder Trust
- Through a Life Estate contract
- Through a Pooled Income Fund
When all is said and done, it does not matter what method you use or what amount you give to ensure the future of our community; what truly matters is your intention behind the gift—your intention to perpetuate, for countless generations, the ideals of the Center for Spiritual Living, Palm Springs, A Science of Mind Community.
Ways to Leave a Legacy to the Center
You can donate cash, stocks, bonds, mutual funds or property to the Center and receive a tax-deduction for a charitable contribution equal to the value at the time of the donation. You can direct the Center to use the funds for immediate expenses, a specific use or to be put into the Legacy Fund where the funds remain forever and the interest can be used by the Center. This works very well for stocks or properties that have appreciated greatly.
Donor Directed Charitable Giving Funds
Many mutual fund companies have Donor Directed Funds. It is like setting up a charitable foundation but very much easier. As the donor, you give cash or property to the fund in an account in your name. You get an immediate tax deduction. You choose the investments and charities and decide when funds are released to the charities. You can preserve anonymity, if desired.
IRA’s , 401(k) and Pension Plans
These are retirement plans and have beneficiaries named when they are first set up. The beneficiaries can be changed at any time. You can make the Center a beneficiary of your retirement plan. In fact, it’s a great idea because the Center, as a non-profit, will not pay any taxes on the money when you die but a person will owe taxes. It works well to leave retirement funds to a non-profit and provide for your heirs with insurance or non-retirement money to avoid taxes.
Pooled Income Funds
Local foundations and some mutual funds have special funds where you can donate money or property and receive monthly income for the rest of your life. At the end of your life, the remaining money is donated to a designated non-profit such as the Center. If you want lifetime income you may want to explore this possibility.
An insurance policy that is in place for a set number of years (term) with a fixed annual premium. Beneficiaries are designated as part of the policy. This is a very good, inexpensive way to leave a legacy to the Center. If the Center is the only beneficiary, the premiums are tax-deductible and can be paid monthly, quarterly or yearly.
There are many ways to leave a legacy to the Center though a Trust.
You can designate the Center as a beneficiary in your will for all or part of your estate. You can assign a dollar amount or a percentage. It’s an easy thing to do.
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Oneness is cultivated, Unity is lived, and Reverence for all life is practiced, empowering us to thrive individually and collectively.
2100 E. Racquet Club Rd.
Palm Springs, CA. 92262