Planned Giving
Leaving Your Legacy
On behalf of everyone at the Zeta Beta Tau Foundation, thank you for taking a moment to explore planned giving options.
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Planned giving is a thoughtful way to support causes that matter to you, ensuring your legacy continues to make a difference beyond your lifetime. It involves a variety of options, such as bequests in your will and beneficiary designations on retirement accounts or life insurance policies. While these are not all available options, they are the most commonly given planned gifts.
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By planning your giving, you can make a lasting impact and help shape the future of the ZBT Brotherhood.
To discuss your options further, please contact Sam Locke, Chief Development Officer, at slocke@zbtfoundation.org.
Bequests
A gift to the Zeta Beta Foundation made through your Will is a charitable bequest. When you make a bequest, there is no out-of-pocket cost during your lifetime. Bequests are either unrestricted or restricted to a Zeta Beta Tau Foundation program of your choosing. To make a bequest, designate the part of your estate that will pass to the Zeta Beta Tau Foundation.
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Forms of bequests the Zeta Beta Tau Foundation accepts are:
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A specific sum.
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A percentage of your estate.
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The remainder of your estate after you have provided for your other beneficiaries.
IRA Qualified Charitable Distribution (QCD)
A qualified charitable distribution (QCD) allows IRA owners aged 70½ and over to support the Zeta Beta Tau Foundation’s work.
Please consider creating a QCD for the Zeta Beta Tau Foundation by instructing your IRA custodian to make a distribution directly to the Zeta Beta Tau Foundation. Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes, so no tax is due. Up to $105,000 of your gift (annual aggregate limit for 2024) qualifies for this favorable tax treatment.
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Of note, a qualified charitable distribution from an IRA will count toward your required minimum distribution (RMD) if one is due.
Life Insurance
Life insurance can be a powerful tool for achieving your philanthropic goals while also meeting your financial objectives.
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Donating your life insurance policy is simple:
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Transfer physical possession of your fully paid-up policy to the Zeta Beta Tau Foundation.
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File an absolute assignment or transfer of ownership form with your insurance company.
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Once processed, your insurance company will send us a letter confirming the Zeta Beta Tau Foundation is the sole owner of the policy.
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Here is an example for your consideration of how donations of life insurance policies work:
Say you own a $100,000 life insurance policy with a cash value of $40,000 with no further premiums due. You can ensure the Zeta Beta Tau Foundation will receive $100,000 upon your death by designating them as the beneficiary.
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Alternatively, you can transfer ownership of that policy to the Zeta Beta Tau Foundation now and receive an itemized charitable deduction equal to the lesser of your cost basis or the policy's replacement value.
Want to learn more?
To discuss your options further, please contact
Sam Locke, Chief Development Officer