DCM Legacy Giving

What is legacy giving?  Legacy giving refers to donations that supporters plan to give to a non-profit organisation after their passing. Legacy giving is also commonly referred to as planned giving, as donors often plan these gifts years before they are distributed to the designated parties. For many donors, legacy giving will consist of monetary donations, but some doners will choose to set up a charitable annuity or trust rather than make a direct donation. These gifts can have the potential to supply DCM with meaningful funds for years to come and honour the legacy of the donor who made the contribution.

What is legacy giving?  Legacy giving refers to donations that supporters plan to give to a non-profit organisation after their passing. Legacy giving is also commonly referred to as planned giving, as donors often plan these gifts years before they are distributed to the designated parties. For many donors, legacy giving will consist of monetary donations, but some doners will choose to set up a charitable annuity or trust rather than make a direct donation. These gifts can have the potential to supply DCM with meaningful funds for years to come and honour the legacy of the donor who made the contribution.

Why is legacy giving important?

Why is legacy giving important?

Legacy giving can benefit both Charities and donors. Donors who choose to participate in legacy giving can experience many benefits.

The ability to cement the Donor’s legacy.
Legacy giving ensures donors will be remembered for their generosity and commitment to the Charity’s purpose long after their passing. This can be especially important to mid-level donors who lack the funds to make a major gift during their lives but can make the impact they want through a legacy gift.

Tax breaks.
Many wealthy donors join a legacy giving program both out of their commitment to their favourite Charity and the numerous tax benefits that participating Donors can bring their families.

Control over the donation’s use.
Often, donors hesitate to give to Charities if they are unsure what impact their contributions will make. With legacy giving, donors can add stipulations in their wills for how their gift will be spent. This can help donors feel rest assured that their legacy will be preserved the way they would have wanted.

There are many ways to make a legacy gift than just these options. Find out how at Mylegacy.ie or Contact DCM.

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The importance of legacy giving for DCM

The importance of legacy giving for DCM

DCM strives to expand our services to those in most need and we also wish to further develop our properties so we can welcome more people. Many donors don’t have the capacity to give major gifts on an annual basis, but they can make a major gift by using other types of assets, like art and life insurance policies, and more thoughtful planning through estate gifts and endowments.

Types of legacy giving

Bequests: Bequests are the most popular and simplest type of legacy giving. In their wills, donors will name what they want to give to the Charity, whether it’s a specific amount of funds, stocks, a piece of art, or even a percentage of the value of their estate.

Life insurance: When taking out a life insurance policy, donors can name a Charity as one of its beneficiaries. Donors who currently have life insurance policies they don’t need anymore can also participate in legacy giving by donating their policy’s accumulated value to the Charity.

Charitable gift annuities: Large Charities may set up charitable gift annuities for their donors. With this method, donors make a large gift during their lifetime, and in exchange, the Charity provides them a fixed income for the rest of their life. When the donor passes, the Charity will receive the remaining funds.