Legacy Giving

Make a Legacy Gift

The simplest and most straightforward gift is a gift to the HAUMC operating budget by pledging to the stewardship campaign. However, there are a great number of other ways in which a contribution can be made. Some of these charitable gift plans can provide an income or stream of payments to the donor or others. Some allow significantly greater tax advantages than a simple outright contribution. Others can allow the donor to meld complex financial and estate planning goals with charitable objectives. The following are examples of some of the most common ways you could benefit Hennepin through legacy, or planned giving:

Testamentary Gifts

A testamentary charitable gift is simply a formal direction or instruction to transfer money, property or other assets to a charity at death. The testamentary gift is usually made by executing a formal legal instrument (often a Will or trust document) during the lifetime of the donor. A testamentary gift can also be made by designating Hennepin as a beneficiary on other financial instruments or accounts, such as an IRA or other retirement plan.

Gifts of Life Insurance

Life insurance is a powerful and flexible financial and estate planning tool. For charitable giving purposes, the value for the charity lies in receiving the “death benefit” which is paid upon the death of the insured.

Life Income Gifts

A life income gift is a plan that allows a donor to make a contribution to charity and receive an income in return. Depending upon the plan, the income may be fixed or variable and it can go on for one or more lifetimes, a term of years, or a combination of the two. Common examples of life income gifts are charitable gift annuities or charitable remainder trusts. While Hennepin does not currently have the capacity to hold life income gifts, you may establish one with a Foundation and indicate Hennepin as a beneficiary.

Endowed Gifts

An endowed gift to the Hennepin Foundation is a gift that is designated for a specific purpose within the church or the wider community. The donor can stipulate whether a portion of the principal can be spent, or just the interest earned through investment of the gift. If you wish, you may also contribute to one of the already-established endowed funds in the Foundation. A list of those funds can be viewed here.

There are many other variations on legacy gifts that can be tailored to your specific situation. Hennepin can provide a valuable service by working with you to create charitable gift plans that meet your needs as well as ours. Brittany Kallman, Hennepin’s Director of Legacy Giving, would be glad to speak with you about how a legacy gift could work for you, and answer any questions you may have. Contact Brittany by telephone at 612-435-1321, or here.