Leave a Legacy
For over a century, Buckhorn Children & Family Services has worked to save and improve the lives of Kentucky’s needy, most at-risk kids and families. Our efforts to help them overcome their problems and build better lives are powered by generous and committed donors from across the nation.
Now, you can join us to continue helping these children even after you are gone. Your planned gift will bring hope and healing and will aid us in transforming lives and entire families for generations to come.
A planned gift is making a decision to set aside some of your monetary assets to become a future gift — usually a generous amount that would not be feasible during your lifetime — to a charitable organization such as Buckhorn Children & Family Services. Ultimately, a planned gift comes through some vehicle of estate planning: a will bequest, a trust fund, a life insurance policy, or a charitable gift annuity.
Types of Planned Gifts
There are lots of ways to give! Planned gifts to Buckhorn Children & Family Services include bequests made through a will provision as well as those gifts which allow donors to give a future interest in property (cash, securities, real estate, etc.) while retaining income or a benefit for life. Regardless of the arrangement, a planned gift serves to ensure Kentucky’s most at-risk kids will receive the help they need for generations to come.
Will Bequest - Including BCFS In Your Will
A clause may be included in your final will and testament to give either a specific amount or a percentage of the residue to Presbyterian Child Welfare Agency, Inc., d.b.a. Buckhorn Children & Family Services. This is a very simple way to provide a future, significant gift. A bequest to BCFS can be of an unrestricted or restricted nature.
An unrestricted bequest helps BCFS meet its most urgent needs at the time the bequest is received.
A restricted bequest identifies a special interest, such as a construction project, establishment of a new program, or campus grounds and provides for future gift support.
Testamentary wills and trusts containing bequest language should be created with guidance from legal professionals.
You probably purchased life insurance when your family was young in order to provide income for them should you die unexpectedly. If your children are now grown, the need for protection may not be as great. In that case, you could easily change the beneficiary to Presbyterian Child Welfare Agency, Inc., d.b.a. Buckhorn Children & Family Services. Insurance is also an easy way to gradually build a generous planned gift by purchasing a policy and naming Presbyterian Child Welfare Agency, Inc., d.b.a. Buckhorn Children & Family Services as the owner and beneficiary. Your annual payments could be tax-deductible.
There are various types of trust funds that can be created to benefit you, your family members, and Buckhorn Children & Family Services, while providing tax advantages for you in the process. A trust document should be written by a qualified lawyer to make sure it is legal and reflects your wishes.
A charitable gift annuity is a contract established between a donor — like you — and a charity — like Buckhorn Children & Family Services — where you invest a sum of money (cash or stock) with BCFS, and BCFS agrees to pay you a fixed annuity payment during your lifetime. When you die, the remaining annuity funds become a charitable gift to Buckhorn Children & Family Services. Annuities can be one-life or two-life, and can be easily written by Buckhorn Children & Family Services. They also provide a welcome tax deduction during the year established, and part of the income will be tax-free, as well. Benefits include an initial charitable deduction, partially tax-free income, and the potential for significant fixed income, particularly for senior adults.
There are excellent options for establishing a charitable gift annuity. For current income, you may transfer property for a fixed income beginning as early as this year. Perhaps you are not ready to begin receiving income until a fixed retirement date. You can establish a deferred gift annuity, take your charitable deduction, and then plan to receive payments by a designated future date. A deferred gift annuity also offers the option to establish the gift annuity now and take a current deduction while maintaining a flexible future retirement date.
The Appalachian Institute of Specialized Services Endowment — invested funds from which only the earnings are spent — is critical in meeting the needs of our clients. As a private, non-profit, charitable institution, every dollar given to BCFS is extremely important and very much appreciated.
Endowment funds at Buckhorn Children & Family Services allow us to continue and increase specialized services for the kids in our care, expand outpatient services to children and families in our Appalachian communities, and fund scholarships for our employees wishing to pursue opportunities in continuing education.
The children and teens in our care need a higher level of treatment, and endowment funds allow us to go above and beyond the treatments we currently provide. A larger endowment is essential so that we may continue to offer the hope of a better life to Kentucky’s at-risk kids.
The donor has the option to determine whether a gift for endowment is restricted or unrestricted:
Unrestricted Endowment Gifts
A donor wishing to allow BCFS to determine how endowment funds can best be utilized will make an unrestricted gift. This gift can be of any amount the donor desires.
Restricted Endowment Gifts
When a donor has a specific purpose or project in mind, the gift may be restricted as endowment for that particular objective as long as it agrees with the mission statement and policies of Buckhorn Children & Family Services. A gift of $10,000 or more is needed to establish a new restricted endowment fund. The new fund can be “named” for the donor or another person whom the donor wishes to honor. The donor will be asked to complete a formal Guidelines and Criteria form to assist BCFS in appropriating the earnings. An existing endowment fund may be added to at any time.
Generous donors who desire to make a permanent commitment to helping Buckhorn Children & Family Services may establish an endowed scholarship fund, the principal of which is held in our investments portfolio and only the earnings are used to provide annual scholarships to our staff. The suggested minimum endowed scholarship is $10,000; however, the larger the fund, the more earnings it will generate for staff assistance. Endowed scholarships can be named for the donor or in honor of someone else, and the donor has the option of establishing specific criteria and guidelines to help BCFS select worthy staff for the awards.
We are available to work with you and/or your advisors to draft a gift plan that suits your unique situation.