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Legacy Gifts

How It Works

We work with you, your family and your financial advisor to plan how your charitable assets will be distributed after your lifetime. Then you set up a legacy fund or endowment that will receive the designated assets from your estate.

Legacy funds are:

Personal

  • You decide the name of your legacy funds at the Community Foundation Tampa Bay.
  • You can establish a legacy in honor or memory of a loved one.
  • We ensure that your charitable intent is maintained for generations to come.

Customized

  • You may name your heirs as successors to your legacy fund.
  • You may name multiple nonprofit beneficiaries.
  • You may modify or cancel the agreement without penalty if you change your estate plans.

Efficient

  • The Community Foundation can receive gifts designated in a will or estate plan. That includes cash, life insurance policies, IRAs, 401(k) plans, real estate, charitable gift annuities and charitable remainder trusts.
  • Your written legacy plan sets the rules for how we administer your estate gift.
  • You can modify your legacy plan easily without changing your estate documents.

Financial Facts

  • May be invested by your own investment manager or in the Community Foundation’s portfolios.
  • Can be established for any amount.
  • May qualify for the estate tax charitable deduction.
  • Are free of fees until the Community Foundation receives the assets.
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