Create Your Legacy at the Goodwin Living Foundation

Gifts of Life Insurance

You can give an old life insurance policy new life with a donation to the Goodwin Living Foundation. Donors can either name the Goodwin Living Foundation as a beneficiary or transfer ownership of an existing policy. With a policy transfer, the Foundation becomes both the owner and beneficiary, and the donor takes a charitable deduction for the cash value of the policy at the time of the gift. The donor can also designate how the gift is to be used.

Gifts of Personal Property

You can support the Goodwin Living Foundation in several ways with a gift of personal property.

Real Estate

• Residence: The gift of a residence or vacation home (valued at $100,000 or greater*) gives donors a charitable gift deduction at the full market value of the property.
• Residence with Retained Right of Residence: The gift of residence with retained right of residence allows donors to use the property for life. The property then passes to the charity upon their death.
• Bargain Sale: A bargain sale is the sale of a property to a charity for less than market value. The difference between the market value and the sale price to the charity is a charitable tax deduction for the donors.

*Located within the continental U.S. and approved by the Foundation Board of Directors

Gifts of Art, Furniture & Personal Property

• The Foundation accepts appropriate gifts of works of art (both self-created and purchased), furniture and personal property but only if the item(s) are usable or can be quickly sold. The donor is responsible for establishing the value of the item(s).

Please note that the Foundation makes no commitment to keep a work of art, furniture or personal property in perpetuity.

Charitable Bequests

Donors can make gifts to the Foundation through bequests in wills or testamentary trusts. This requires a simple designation in the document and does not affect cash flow during the donor’s lifetime.

For those considering this option, be sure to include the following within your bequest: Goodwin Living Foundation (Tax ID: 54-1549749), a qualified charity under the Internal Revenue Code, Sections 170(c) and 2055(a) as amended, to be used for its general charitable purposes and the Bequest Statement Form.

All donors who make gifts through bequests in their wills will be included in the Bishop Chilton Society, the Foundation’s Gift Society for planned gifts. Members of the Bishop Chilton Society are included in the Goodwin Living Annual Report.

Charitable Gift Annuities & Trusts

Charitable Gift Annuities (CGA) and Charitable Trusts offer a win-win for donors and Goodwin Living Foundation. The donor gives a donation of cash or transfers assets to the Foundation in exchange for long-term fixed income, charitable deductions and other possible tax benefits. Speak with your financial advisor to learn if this would be a good fit for you, or contact the Foundation to learn more about the process and benefits.

The Foundation Board of Directors has established the following minimum amounts for charitable gifts and annuities.

The Foundation reserves the right to decline any gift that does not further its mission or goals, would create an administrative burden or would cause GHF to incur excessive expenses. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.