Intro Image - Ways to Give Through Your Estate

Ways to Give Through Your Estate

Our different planned giving options offer you ways to remember worthy causes while offering a range of benefits such as providing for your loved ones, creating current income, or possibly reducing taxes. Any may be used to create or add to a fund at the Community Foundation.The chart below offers a summary of planned giving options (also available for download in our Planned Giving Options brochure).

We are eager to answer your questions or set up a meeting to discuss a gift.
Please email the Philanthropic Engagement Department or call 585.271.4100.

Giving Options that Benefit Specific Charities

TYPE OF GIFT
DESCRIPTION
BENEFITS TO DONORS
MINIMUM
TYPE OF GIFT
Bequest
DESCRIPTION
A gift made through a will.
BENEFITS TO DONORS
Simple to establish and typically requires an attorney to create. Sample language is at www.racf.org/bequest.
MINIMUM
Any amount1
TYPE OF GIFT
Charitable Lead Trust Annuity (CLAT) fixed amount or Unitrust (CLUT) fixed percent
DESCRIPTION
A trust that pays annual income to the Foundation and leaves the heirs a “remainder” after death.
BENEFITS TO DONORS
Provides a partial tax deduction as well as current income to a charity. Remainder passes to named beneficiaries after the donor’s death. Established with trustee of choice.2
MINIMUM
$100,000
TYPE OF GIFT
Insurance
DESCRIPTION
A gift of a new or existing insurance policy (subject to the Community Foundation’s life insurance acceptance policy). The Foundation becomes the owner and beneficiary.
BENEFITS TO DONORS
May provide an immediate tax deduction if there is cash value. Allows a larger gift with smaller cost.
MINIMUM
Any amount1
TYPE OF GIFT
Individual Retirement Account3
DESCRIPTION
A gift through your required minimum distribution3 or through IRA proceeds after death.
BENEFITS TO DONORS
May provide a charitable deduction for the estate.
MINIMUM
Any amount1
TYPE OF GIFT
Life Estate
DESCRIPTION
A gift of a house or farm to the Foundation that allows donors to continue living there for the rest of their lives.
BENEFITS TO DONORS
May provide an immediate partial tax deduction and removes a high-value asset from the estate.
MINIMUM
$200,0004

Giving Options that Create Current Income and Benefit Charities, Interests, or Community

TYPE OF GIFT
DESCRIPTION
BENEFITS TO DONORS
MINIMUM
TYPE OF GIFT
Charitable Gift Annuity
DESCRIPTION
An annuity contract that pays one or two people (who must be 55 or older) a fixed annual income for the rest of their lives. After death, the remainder value is a charitable gift to the Foundation.
BENEFITS TO DONORS
Provides current income and a possible partial tax deduction. Payments are made quarterly and are a fixed percentage based on the donor’s age when established. Income is partially tax free.
MINIMUM
$10,0001
TYPE OF GIFT
Pooled Income Fund
DESCRIPTION
A pool of funds that donors may invest in. Each donor receives a variable annual income based on their relative share of the pool. After death, the remainder value creates a charitable gift to the Foundation.
BENEFITS TO DONORS
Provides current income and a possible partial tax deduction. Payments are made quarterly and are a varying percentage based on the market performance of the pool’s investments. Income is taxable.
MINIMUM
$10,0001
(may be added to later in increments of $1,000 or more)
TYPE OF GIFT
Charitable Remainder Trust Annuity (CRAT)
fixed amount or
Unitrust (CRUT) fixed percent
DESCRIPTION
A trust that pays annual income to the donor and leaves a charitable “remainder” to the Foundation after death.
BENEFITS TO DONORS
May provide a partial tax deduction. Removes an asset from the estate, and provides current income. Established with trustee of choice.2 Income is tax-advantaged.
MINIMUM
$100,0001

All invested funds may gain or lose value.

  1. A minimum of $25,000 is required to create a separate, named fund.
  2. The Community Foundation cannot act as trustee, but can be the recipient of a trust.
  3. Even under the SECURE Act, donors 70½ or older may direct up to $100,000 each year from their IRAs to the Foundation through Qualified Charitable Distributions.
  4. Real estate must have a minimum value of $50,000, and the gift must be reviewed and approved by our board of directors.

When leaving a bequest to the Community Foundation, we suggest that donors keep the language in their wills as general as possible and indicate that additional details as to the charitable purpose in a letter of understanding on file with Rochester Area Community Foundation. That way, donors can update the letter of understanding at any time without having to incur the expense of rewriting their will.

Here are three samples of bequest language. Choose the one that best fits your charitable intentions:

Bequest for General Endowment

“I give and bequeath (describe gift — amount, asset or percentage) to Rochester Area Community Foundation, Rochester, New York, to the General Endowment Fund. I direct that the income from this fund be used for community benefit at the discretion of the board of Rochester Area Community Foundation.”

Bequest to Create a New Fund ($25,000 minimum)

“I give and bequeath (describe gift — dollar amount, percentage, or item) to Rochester Area Community Foundation, Rochester, New York, to establish a permanent endowment fund known as the ______________ Fund. I direct that the income from this fund be used for (specify charitable purpose or indicate ‘for community benefit at the discretion of Rochester Area Community Foundation’).”

Bequest to an Existing Fund

“I give and bequeath (describe gift — dollar amount, percentage, or item) to Rochester Area Community Foundation, Rochester, New York, to add to a permanent endowment fund known as the ______________ Fund. I direct that the income from this fund be used for charitable purposes as defined in the fund agreement.”

Our Legacy Society recognizes individuals who have named Rochester Area Community Foundation in their wills or planned gifts. By remembering the community in your estate plan, you can make a real difference to our region’s future.

Membership in our Legacy Society is open to any individual or family who informs the Community Foundation in writing of their estate gift (see our Declaration of Intent form) to benefit this region through the Community Foundation. (* indicates recently deceased)

  • Russell K. Achzet
  • Carol T. Aldridge
  • Jane A. Alexander
  • Anonymous (50)
  • Michael H. Anthony
  • Gerald J. Archibald
  • Tom and Carolyn Argust
  • Ann N. Baker
  • Bruce B. Bates
  • Harry* and Nancy Beilfuss 
  • John and Carol Bennett
  • Waldense L. Bennett Sr.
  • Jane Ellen Bleeg
  • Edward and Phyllis Bloom
  • Angela Bonazinga and Catherine Lewis
  • Ted and Peggy Boucher
  • Beverly T. Bowen
  • Nancy and Joe Briggs
  • David L. Brooke
  • Jim Brush
  • Michael F. Buckley
  • Duncan H. Bull
  • Carol Jo “C.J.” Bullen
  • Sally Burdick
  • Paul H. Bush
  • Catherine B. Carlson*
  • Marlene Caroselli
  • Rosalie J. Cavallaro
  • Barbara and Alexander Christoff
  • G. Thomas and Barbara Clark
  • June M. Clase
  • Carla F. Coombs Garwood and 
  • John A. Garwood
  • Carole Cooper-Haims
  • José and Karen Coronas
  • Linda W. Davey
  • Michael and Amy Davis
  • Stewart Davis
  • Ellen and Beatrice de Buono
  • Elizabeth Dewey
  • Peter and Ann Dillon
  • Linda Donahue and Sue Dambrowski
  • Mike Donoghue
  • Kreag Donovan*
  • Michael and Carol Doran
  • Erik R. Duncan
  • Patricia A. Dwyer
  • David and Sandra Ebberts
  • Trevor and Elizabeth Ewell
  • Preston K. Faulkner
  • Joan Feinbloom
  • Gerard E. Fisher
  • Mary V. Fisher, Esq.
  • Ruth H. Fitzgerald
  • Suressa and Richard Forbes
  • Donald A. Forsyth
  • Scott A. Forsyth
  • Jonathan D. Foster
  • Thomas H. Foster
  • Margaret Mary Z. Foxx
  • Lauren D. Frank and Annette H. Miller
  • Ruth Freeman
  • Emerson U. and Vernita Fullwood
  • Joanne Gianniny
  • Grant and Bette Gillette
  • R. Thompson Gilman and Kelly A. Nagle 
  • John P. Gleason and 
  • Mary Ellen Miller-Gleason
  • Peter G. Gleason
  • Constance M. Glover
  • Richard Goldstein and 
  • Lynda Garner Goldstein
  • Sanford* and Stephanie Gradinger
  • Karl Greenhagle
  • Barbara Griffis
  • Frank S. Grosso
  • James P. Growney
  • Anthony L. Gugino
  • Donald S. Hall
  • Joan M. Halstead
  • E. Pauline Handy
  • Patricia Hans
  • Norman and Dianne Hansen
  • Amara Harris
  • Dr. Anne Harrison
  • Jim and Shari Harrison
  • Jim and Rose Hawley
  • Peter Henderson
  • Roger and Rosemary Herendeen
  • David D. Hoesley
  • Mary and Jim Holleran
  • William and Cynthia Hosley
  • Jeffrey Hough and Marlea Allan
  • G. Jean Howard-Cherubim
  • Margot M. Hughes
  • Laura Humphrey
  • Nancy M. Huppert
  • Clifford Hurley
  • Ray and Erika Hutch
  • Richard J. Huxley and Debra Domres
  • Mimi Hwang
  • Perry and Linda Jacobstein
  • Dr. Wallace Johnson and Dr. Karen Duguid
  • Joseph G. Kelly and Pat Murray*
  • Mary Kerr
  • Dawn Klein
  • David and Beverly Kluge
  • Leslie and Nelle Knox
  • Sheila Konar
  • Marlowe B. Hagood Laiacona
  • Dianne LaLonde
  • Edward R. Lane
  • Harry H. Lang Jr.
  • Jeffrey B. Larson and 
  • Richard C. Conheady Jr.
  • Alan and Deborah Lattime
  • Kristine Lawrence
  • Audie F. Lawson
  • Jeffrie and Robert Leahy
  • John and Joyce Lechner
  • Dan Leonard
  • Jennifer Leonard and David Cay Johnston
  • Robert G. Lewis
  • Sarah F. Liebschutz
  • Alan M. Litman
  • Jane Littwitz
  • Cricket and Frank Luellen
  • Nelson MacCallum*
  • Sherryn K. Malm
  • Joseph J. Mancini
  • Thomas S. Marsh
  • Hank Mastalski
  • Sandy and Suzanne Mayer
  • Mary Soons McCarty*
  • Jetson and Gloria McCleary
  • Richard J. McCollough
  • John N. McMath Jr.
  • Marvin A. McMickle and Peggy McMickle
  • James and Ann McMullen
  • Thomas E. C. Mees
  • Caroline and Albert Merenda
  • Carmel S. Merrill
  • Pete* and Sally Merrill
  • Richard Woodworth Millard 
  • Glen E. Miller
  • Deanne Molinari
  • Laura v. Morrissey
  • James S. Moser
  • John Muenter
  • Raymond and Patricia Naber
  • Emily Neece and Alan Ziegler
  • Philip Neivert
  • Raymond and Eleanor Newell
  • Kathy and Ted Nixon
  • Nannette Nocon and Karl Wessendorf
  • Helen O’Leary
  • Marjorie Olney*
  • Suzanne A. Olson
  • Elizabeth Owen Smith 
  • Amante Parungao
  • Katie and Scott Peterson
  • Dominic and June Piazza
  • Cheryl B. Pipkin
  • Lois Posner
  • John C. Pyles
  • Samuel and June Reeder
  • Ron Richardson
  • Tom Riley and Barbara Kelley
  • Nancy S. Robbins
  • Nathan and Susan Robfogel
  • Anna L.B. Rodriguez 
  • Sharon Rosenblum
  • Harris H. Rusitzky
  • H. Bruce Russell
  • Harold and Judy Samloff
  • Robert and Jeanne Sandholzer
  • Richard W. Sarkis
  • Robert and Barbara Schaefer
  • Conrad A. Scheg
  • Natalie L. Schwartz
  • Richard and Vicki Schwartz
  • The Hon. and Mrs. Anthony J. Sciolino
  • Mary Seebach
  • I. C. and Cheryl Shah
  • Bertha E. Simpkins
  • Stephen L. Smith
  • David and Nina Somers
  • Jim and Marie Sorrentino
  • Robert and Jacqueline Sperandio
  • Burton Spiller
  • Ann and David Still
  • Dolores S. Stover
  • Arthur Streb
  • Kathy L. Strong
  • John M. Summers
  • Alec and Mindy Sutherland
  • Robert F. Sykes*
  • R. Ian and Eve H. Tatlock
  • Michael T. Tomaino Sr.
  • Albert and Mary Ellen Tortoretti
  • Robert and Susan Touhsaent
  • Nancy L. Turner
  • Chuck Tuttle
  • Ruth Unzicker and Christopher Husson
  • Robert and Ann Van Niel
  • Ted* and Joanne* VanZandt
  • Arthur N. Vitoch
  • Erik and Judy von Bucher
  • Bonita Wallace
  • Rand L. Warner
  • Robert D. Wayland-Smith
  • Elizabeth and Pierce Webb
  • Philip Wehrheim
  • Elinor H. Weinberg
  • Sidney and Linda S. Weinstein
  • Michael* and Robin Weintraub
  • Delores Welkley
  • Norman and Nancy Wetterau
  • Pamela S. White
  • Timothy B. and Elizabeth C. Wilder
  • John Williams and Chuck Lundeen*
  • W. Steven Wilterdink
  • Eric I. Zeller
  • Jay and Hanna Zukoski

Legacy Gifts

This list recognizes the generosity of individuals who recently passed away and included the Community Foundation in their estate plans. We are deeply grateful for the gifts, received from April 1, 2016 to August 31, 2018, from the following estates:

  • Anonymous (2)
  • Dorothy J. “Dot” Beavers
  • Jacqueline P. Cady
  • Elizabeth Cohn
  • Sarah H. Collins 
  • Charles C. Congdon
  • Marlene Duerr
  • Martha Eakin
  • Charles E. Fitzgibbon
  • Nathalie J. Fuller
  • Thomas E. Gompf
  • John C. Groth-Juncker
  • William B. Hale II
  • William H. Hartman
  • Elaine Hoffman
  • Donald W. Karal
  • Louise H. Klinke
  • David B. Lederer
  • Christopher Lindley
  • James K. Littwitz
  • William B. McCoy Jr. 
  • Elizabeth Merz 
  • Elizabeth J. O’Leary
  • Paul F. Pagerey
  • Mary Priest
  • Marguerite Robertson
  • Suzanne H. Rodgers
  • Elizabeth J. Schmidt
  • Barbara Ann Smith
  • VJ Stanley Sr.
  • Frank P. Strong Jr.
  • Martin L. Suter

*Deceased