You can do both
A remarkable number of people who don’t consider themselves wealthy can create charitable funds and endowments for their favorite causes or nonprofits. So it’s not a matter of if, only when.
Can I give now?
The answer may be “yes” if you:
- Are ready to start a charitable fund and have the $5,000 minimum ($25,000 for scholarship funds)
- Are selling certain types of businesses or highly appreciated assets, like stocks or real estate, and face significant tax consequences
- Have received a considerable inheritance and wish to pay tribute to your loved one
- Have a private foundation that is costing you too much to administer
- Wish to establish a fund or endowment in honor of a family member or friend for a special occasion
If so, you can choose from a variety of tax-smart giving strategies and start your charitable fund now. You can also learn about our types of funds, fees and expenses, investment performance and financials.
Should I wait until later?
Other charitable people are equally philanthropic, but their assets are tied up in their homes, IRAs and insurance policies. You may also be worried that you will outlive your savings.
Planned giving may be right for you if you’re willing to consider charitable plans that:
- Take place upon your death
- Ensure your family and friends are first cared for
- Guarantee you a lifetime stream of income
If so, consider our many planned giving resources. We offer sample gift plans, will writing advice, calculators, and the option for Akron Community Foundation to work (for free) with your professional advisor.
Join the Edwin C. Shaw Legacy Society
If you do write Akron Community Foundation into your will or use another planned giving instrument, contact Margaret Medzie to let us know so we can recognize you in our Edwin C. Shaw Legacy Society.