Our supporters often overlook the benefits of giving a life insurance policy to the Partnership. If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a paid-up policy. Alternatively, you could create a significant gift by taking out a new policy on your life and naming the Partnership as the owner and beneficiary, thus creating a future gift at a lower cost. If the Partnership is both the owner and beneficiary, the premium payments are tax deductible.

You must name us as the irrevocable [you can't change the terms in the future] owner and beneficiary of the insurance policy to secure income tax benefits from your gift.

• When you make an immediate gift of an insurance policy, you may claim an income tax deduction based on the policy's current value. The Partnership can cash in the policy and have proceeds go directly into the endowment. Or, you can convert the assets of the policy into a charitable remainder trust.
• You reduce estate taxes, since the value of the policy is removed from your estate.
• Naming the Partnership as the beneficiary or contingent beneficiary of your life insurance enables you to protect your loved ones while providing for the cause you care about if the policy's beneficiaries predecease you.

For more information, please contact David LeDuc, Development Director, at 608.828.8844 or .