Planned Giving Program

Steve Russell
President


Chairman
Planned Giving Program


Our Planned Giving Program will allow the Lone Star Woodturners Association (LSWA) to receive crucial funding for future facilities, equipment and programs that enhance the educational mission provided by our association.

These types of gifts include, but are not limited to: a bequest and/or charitable income gifts, such as charitable gift annuities, charitable remainder unitrusts, charitable remainder annuity trusts, or gifts of life insurance.

As we plan for our future, we know that the generosity of those who assist the LSWA will make all the difference in our continued success. That is why we seek your support.

We also, however, want to make sure that you benefit from making a gift to the LSWA. How does this happen? In addition to the satisfaction that comes from knowing you have made a difference in the lives of others, the best gift plans improve your financial and tax situation -- in many cases right away.

Planned Giving is a set of ways a donor can leave money/assets to a nonprofit at his/her death; or a way to invest money so that the donor receives benefits during his/her life and then bequeaths the remaining funds to the nonprofit.

Bequests are the transfers of wealth that occur upon a donor's death and that include transfers by means of a will or a trust. Bequests can take several forms such as:

  • Specific bequest - a certain amount of cash, securities, or property.
  • General bequest - property that is similar to all other items distributed, usually cash.
  • Percentage bequest - a stated percentage of the donor's estate.
  • Residual bequest - all or a portion of what remains of the estate after specific and general bequests are distributed.

Beneficiary designations are gifts that occur outside of the will. This might be an Individual Retirement Account, or an insurance policy. A donor can make a nonprofit the beneficiary of these types of financial instruments.



If you would like more information on our Planned Giving Program, please contact the Committee Chairman, Steve Russell using the contact form below. We would be happy to assist your attorney and provide any necessary assistance in this regard.

The Lone Star Woodturners Association, Inc. is a 501(c)3 tax exempt public charity. Contributions to the LSWA are deductible under section 170 of the IRS Code. We are also qualified to receive tax deductible bequests, devises, transfers, or gifts under section 2055, 2106 or 2522 of the Code.


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