Planned Giving

Members of the Honor Roll Society have placed The Washington Center in their will or other estate plans. These special supporters want to see their commitment to leadership development and the educational benefits TWC offers students extend into the future.

Joining the Honor Roll Society simply entails telling The Washington Center about this tremendous commitment.  If you have made such a commitment, but have not yet told us, please accept The Washington Center’s thanks and know that we would be pleased to thank you in person now. Membership in the Honor Roll Society does not require paying dues, although most Honor Roll Society members continue to make their regular contributions to The Washington Center.

Please consider including The Washington Center in your will or other estate plans. Some suggested ways to do so follow. Your lasting legacy can be a legacy of learning and personal growth for young people for years to come.

Bequests Through Your Will

Giving The Washington Center a gift through your will is a simple yet profound act of generosity.  A will is a legal document disposing of your property at the time of your death to the important people and organizations in your life. The gift made in your will is called a bequest.

No matter your age, you need a will.

How you benefit
Sixty percent of Americans die without a will, leaving it up to the courts to decide where their property will go. Only with a will do you remain in control so that your loved ones, friends, or charities receive what you want, not what a judge decides. 

How your gift helps TWC
Your gift will help ensure that young people of all backgrounds, especially those who come from limited means or are first-generation college students, can have the benefits of an internship in Washington, D.C.  You can designate The Washington Center the beneficiary of

• A percentage of your estate
  
  
• Your residual estate (the remainder after payment of other bequests)
  
  
• Specific assets you name (such as a dollar amount or a specific asset)

You may use the sample language below to make a bequest to The Washington Center:

I give, devise, and bequeath to The Washington Center for Internships and Academic Seminars (TWC), federal tax identification number 52-1019820, located at 1333 16th Street, NW Washington, D.C. 20036 at the time this will is executed, [“the residual,” percentage of estate, sum, or description of real or personal property] to be used for its general purposes.

Percentage Example
TWC alumnus James divides his estate among his sister (50%), his nephew (20%), his church (15%), and The Washington Center (15%).  Even if the value of his estate rises or falls, his distributions will still happen the way he wants.

Residual Example
Parents of two TWC students, Elena and Jorge make specific bequests to one another and their children.  They choose to leave the residual of their estate to The Washington Center, knowing that it will help other children just like their own.

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Deferred Gifts

Deferred gifts are two other ways you can support The Washington Center through your estate plan. Charitable Remainder Unitrusts and Charitable Lead Trusts are two types of deferred gifts.

In a Charitable Remainder Unitrust
you place in trust an asset, and a trustee you select (often a bank) pays you a specified income each year of your life.  The income is a percentage of the fair market value of the property determined annually. Generally the older you are when you create the Charitable Remainder Unitrust, the more income you are paid.  At the end of your life, the residual of the trust goes to The Washington Center.

How you benefit
You will receive an immediate income tax charitable deduction, avoid capital gains taxes and your estate (depending on its value) may receive, at your death, a substantial reduction of probate costs and estate taxes. 

How your gift helps TWC
Funds remains in the trust at your death goes to The Washington Center to help students.

Example
Margaret creates a charitable remainder unitrust with a value of $100,000, funded mostly by highly accrued stock. She receives an immediate tax-deduction and will not have to pay capital gains tax on the stock.  She receives income for life based on the value of the trust, no matter how long she lives.  At her death, The Washington Center will receive the remaining funds.

 

A Charitable Lead Trust
is irrevocable for a term of years, with the income being paid to The Washington Center during that term.  At the end of that term, the assets will revert back to you or your heirs.

How you benefit
A Charitable Lead Trust removes assets from your estate now so that upon your death your estate may be taxed at a lower rate. A Charitable Lead Trust allows you to pass an asset to an heir without probate.

How your gift helps TWC
The Washington Center puts the income from your trust to work during the term designated.

Example
TWC alumnus Nathan is a widower with one adult child, Mark, who is developmentally disabled. Nathan creates a Charitable Lead Trust from his own funds with The Washington Center as the charitable recipient and Mark as the beneficiary of the trust at the end of 10 years. For 10 years, the Trust is invested and pays a proportion of income and corpus to The Washington Center for scholarships named after the family. At the end of 10 years, the remaining corpus is paid to Mark without ever entering probate. For Nathan, it is a loving way to help an institution from which he personally benefited and to provide for his son.

The preceding is not intended to serve as legal or investment advice by The Washington Center. If you would like to discuss a bequest or other estate plan in confidence, please contact:

Ryan Klang
Director of Development
(202) 238-7965
ryank@twc.edu

 

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