Leave an Educational Legacy through Gift Planning
Fred and Jean Reinacher died in 2003 and 2008, respectively.
This year, they are helping ADM kids go to college.
Because of their gift planning the Reinachers were able to leave a legacy that will live on. During their lifetime, they named the ADM Scholarship Foundation Fund as one of the beneficiaries of their trust. So when Jean passed on, the Foundation received a large contribution that will help countless students pursue their college dreams.
Gift planning can be an easy and thoughtful way for you to benefit generations of future students and leave a legacy. There are a number of ways to do this.
Two easy ways are to make a bequest in your will or trust or name the Foundation as a beneficiary of a life insurance policy or retirement plan.
Other ways include:
- Charitable Remainder Trusts
- Charitable Gift Annuities
- Charitable Lead Trusts
- Charitable Gift Fund
If you would like to make this kind of contribution to the Foundation, visit with your attorney or financial advisor to see what options are right for your situation.
We are pleased to offer you this information, but only as an aid to permit you to ask the right questions of your favorite financial professional.
Will or Trust Bequests
Under this option, you name the Foundation in your will or trust as the beneficiary of all or part of your personal estate or trust estate. You might choose to give a specific dollar amount, a percentage of your estate, or a donation of the assets remaining in your estate after debts, expenses and other bequests are paid out (also known as a residuary bequest).
Naming the Foundation as Beneficiary
Life insurance policies, annuities, retirement plans, and other types of assets allow you to name a person or organization as the beneficiary of the policies or plan. You can choose to give all or part of the funds to the Foundation. This is generally as simple as requesting a change of beneficiary form from the company that administers the policy or plan and listing the Foundation as a beneficiary.
Charitable Remainder Trusts
Under this option, you create a trust and transfer assets into it. The trustee invests the assets and pays out income from the trust to you or another trust beneficiary. The income can continue for one or more lifetimes or for a term of years. When the trust ends, any remaining assets are paid to the Foundation.
Charitable Gift Annuities
Under this option, you make an irrevocable charitable contribution of cash or securities to the Foundation in exchange for a promise that you will receive a specific amount of partially tax-free income each year for life. When the payments end, the Foundation retains the remainder of the original contribution.
Charitable Lead Trusts
This option works essentially the same as a Charitable Remainder Trust, except that the parties’ roles are reversed. Under this option, you create a trust and transfer assets to it. The trustee invests the assets to provide a payout to the Foundation for a period of years (payout amount and term are chosen by you). At the termination of this period, the principal is returned to you or someone you designate.
Charitable Gift Funds
These are also known as donor-advised funds and are typically offered by mutual fund families. They allow you to make an irrevocable, tax-deductible contribution of personal assets to a fund. The fund then invests the contribution according to your investment selection and makes grants to charitable organizations, such as the Foundation, upon your recommendation. This allows you to take a tax deduction up front, but then make donations over a period of time.
ADM Scholarship Foundation Privacy Statement
We are committed to the protection of your privacy. This commitment means that we will not share your personal information with any person, agency, organization, or entity other than with service providers who perform services for us and who agree to keep your information confidential and as is required by law. We do, however, list the names of donors to the Foundation in various publications, including on our website and in the High School Commencement program. No other information besides the donor name and level of giving is listed. Donors who do not wish to have this information listed can contact the president of the Foundation and your name will be removed. Should our information sharing practices change so that we intend to share your information with anyone besides those listed, we will post the new policy on our website.