There are various ways that you can make a gift to the Bridge or to its endowment fund. As in the case of any charitable gifts, before you make a gift you should consult with your tax advisor and/or attorney to determine any income tax and estate tax consequences associated with the gift.
You can make a tax-deductible gift directly to the Bridge or to The Bridge Family Center Fund, our endowment fund at The Hartford Foundation for Public Giving. In addition, many corporations offer matching gift programs to their employees, retirees and their families. Please contact the human resource department at your company to learn how to submit a matching gift request.
A simple bequest to The Bridge Family Center, Inc. or to its endowment fund may be included in your Will, enabling you to make a larger gift than you might have thought possible and providing savings in state and federal death taxes. You can donate a specific dollar amount or a percentage of your assets.
Here is some suggested wording for making a bequest to the Bridge or to its endowment fund to share with your attorney:
To give directly to the Bridge:
“I bequeath the sum of ______________ Dollars ($_______________) [or, I bequeath __________% of my estate] [or, I devise and bequeath all the rest, residue and remainder of my estate] to The Bridge Family Center in West Hartford, CT.”
To give to the Bridge’s Endowment:
“I bequeath the sum of ______________ Dollars ($_______________) [or, I bequeath __________% of my estate] [or, I devise and bequeath all the rest, residue and remainder of my estate] to HFPG, Inc., a charitable corporation affiliated with the Hartford Foundation for Public Giving, to be added to The Bridge Family Center Fund.”
Please contact Martha Rennie for more information about making a bequest.
The Bridge or our endowment fund can be named as the beneficiary of all or a portion of your life insurance policy. However, if you wish to make a gift of the life insurance policy itself, please contact Martha Rennie at 860.521.8035, ext. 1105 to discuss the gift.
The Bridge can be named as the beneficiary of all or a portion of your retirement plans. Distributions from some retirement accounts to individuals may be subject to both income and estate tax. The distribution to the Bridge will not incur income tax as the Bridge is a 501(c)(3) charity, making it more advantageous to direct your retirement plan assets to the Bridge.
You can establish a trust that pays income to you and/or other beneficiaries for life or a term of years, then pays the remaining balance to the Bridge. Transfers to a Charitable Remainder Trust will generate an income tax deduction for you in the year of the contribution.
You can establish a trust to support the Bridge now and your family or other beneficiaries at a later date. The trust pays income to the Bridge for a period of years and then passes the remaining balance to your beneficiaries with minimum or no gift or estate taxes.
Please contact Martha Rennie at 860.521.8035, ext. 1105 with any questions you may have.