Key Term

What is Legacy Giving?

Definition

Legacy giving, also known as planned giving or estate giving, refers to the process of arranging charitable donations that will be made after a donor's death, typically through a will, trust, or other estate planning vehicle. These gifts can take various forms, including cash, property, securities, or other assets, and are often one of the largest and most impactful donations a person will make in their lifetime.

Significance

Legacy giving plays a crucial role in the sustainability and long-term success of charitable organizations, providing them with significant financial resources to continue their mission well into the future. For donors, it offers a way to create lasting impact and establish a meaningful philanthropic legacy while potentially providing tax benefits for their estate. Legacy gifts often form the foundation of endowments and long-term charitable programs, enabling organizations to plan more effectively and undertake larger, more ambitious projects that can benefit communities for generations to come.