Every day millions are helped to improve their lives due to the generosity of others. As a community we each have a stake in the success of every individual, every family. Many organizations that make massive positive contributions are struggling due to cutbacks in government supports.
We as stakeholders in American society have a responsibility to give back and help those less fortunate. A recent example of this ethos:
“Northwestern University received a $480 million gift, a record for the Illinois school, from alumni Patrick and Shirley Ryan and their family.
The money will help bolster research in fields including applied microeconomics, business, digital medicine, neuroscience and global health, as well as redevelop the home of its football facility, Ryan Field, the Evanston-based university announced Wednesday.
The gift “will have a profound and lasting impact on faculty and student opportunities, including research and discovery,” Northwestern President Morton Schapiro said in a statement.” (1)
Gifts like this are immensely valuable, coming at a time when many schools have ramped up fundraising to offset declines in state support.
As a result of such donations more students will be able to attend Northwestern University and build a better future for them and their families. It is an investment in the future and fabric of the United States.
Examples of this kind of giving occur every day… sometimes in the millions of dollars, many times more just a few thousand dollars. What many people are not aware of is the ability to leverage money using life insurance for charity and planned giving to create more impact and bigger gifts.
Permanent life insurance is a tool that has provided security and abundance for hundreds of years. By planning ahead donors can use existing assets and cash flow to create endowments that are many times larger than the premiums paid.
As an estate planning tool, life insurance gives additional options and flexibility to charitably minded people.
If a foundation or non-profit have a limited number of assets (picture apples in a bowl) to fund their projects, the question becomes ‘how do we add more apples to the bowl’; how do we ensure the organization is sustained long term for the biggest social impact?
To learn more talk to a financial advisor like myself. Explore options. But above all take action and protect your legacy and those you care about.
If you want to discuss these issues or learn more, please feel free to contact me at firstname.lastname@example.org .
Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing
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