Interested in helping students realize their college dreams beyond your lifetime?
Including Breakthrough Central Texas in your financial and estate planning will allow you to create a lasting impact for Central Texas children, with generational ripple effects that only education can provide. As you plan for your future and reflect on the legacy you would like to leave behind, please consider one of the following ways you can create more breakthroughs and realize tax and other benefits in return:
Gift in your Will or Living Trust
A gift in your will or living trust, known as a charitable bequest, is a simple, flexible way to ensure Breakthrough can fulfill its mission for years to come. Whether you use an attorney or an online service like FreeWill, you can structure your will or living trust to provide for your loved ones first and include a gift of a specific dollar amount or percentage of your estate to Breakthrough.
Here is sample bequest language to discuss with your legal or financial advisor:
“I, [name], give, devise and bequeath to Breakthrough, [federal tax ID #74-2991346], $_________ or ________% of my estate for its unrestricted use and purpose (or support of a specific purpose or program).”
Gift of Retirement Assets or Life Insurance
Naming Breakthrough as a primary or contingent (secondary) beneficiary of a retirement, investment or bank account, or life insurance policy, is a simple, free way to support Breakthrough’s mission.
To name Breakthrough as a beneficiary, simply request a beneficiary designation form from your retirement plan administrator, insurance company or financial institution. These assets require separate beneficiary forms, and beneficiaries can be easily modified at any time to meet your changing needs. When you pass away, Breakthrough will receive the amount you have specified directly from the institution tax-free.
Gift of Real Estate
Did you know that you can donate your house or other real estate to Breakthrough and receive a significant tax deduction? You can even donate your house now, live there for the rest of your life and receive a large income tax deduction.
Before you begin the process of donating real estate, please let us know your intentions so we can make sure we will be able to accept your generous gift.
Through your donor-advised fund, you can make gifts to support Breakthrough during your lifetime by contacting the sponsoring community foundation or financial institution. After you pass away, you may allocate the balance of your fund to successors (individuals) to carry on your legacy of giving and/or charitable beneficiaries (organizations, like Breakthrough).
Charitable Gift Annuity & Charitable Remainder Trust
A charitable gift annuity is a way to make a gift to Breakthrough, receive a lifetime of income for you or a loved one, and get an income tax deduction. There are also special trusts, called charitable remainder trusts, that work much like a gift annuity but are more suitable for larger gifts. Please ask your tax advisor how you can set up a charitable gift annuity or charitable remainder trust with Breakthrough as the beneficiary.
These are just some examples of non-cash and charitable estate gift options that can help advance Breakthrough’s mission and create a lasting legacy. We encourage you to explore your options.
This information is not intended to be used as legal or financial advice. Breakthrough recommends that you consult your appropriate professional advisors to discuss the benefits and effects of any particular charitable or tax strategy.
Helpful Information for your Advisors
Breakthrough Central Texas is a 501(c)(3) not-for-profit organization incorporated in the State of Texas on February 14, 2001.
Legal Name: Breakthrough (d.b.a. Breakthrough Central Texas)
Tax ID: 74-2991346
Address: 1050 East 11th Street, Suite 350, Austin, TX 78702
Already included Breakthrough in your estate plan?
For questions, more information, or to let us know Breakthrough is included in your estate plan, please contact Director of Philanthropy Holly Wissmann at 512.961.5256, or firstname.lastname@example.org, or complete this Estate Gift Intention Form. Notifying us will allow us to thank you and ensure that we fulfill your gift exactly as you intended. Information you share will be kept confidential, and we respect any desire to remain anonymous.