Building Futures Through Legacy Giving: Why Fair Access to Education Deserves a Place in Your Estate Plan
As we get older, it’s natural to begin thinking about leaving a legacy behind us. Legacy giving — also called planned giving — is a way to ensure your values continue to make a positive impact in the world after you’re gone. For donors who care about equitable access to education, giving empowers you to widen access to college and job training programs to students facing barriers.
What Is Legacy (Planned) Giving?
Legacy giving is a form of charitable contribution you arrange now, but which may take effect later, often after your death. It is different from other kinds of donations in that it is structured as part of your estate. This form of giving can take various forms:
- Designating all or a portion of your will or trust to a nonprofit
- Naming a nonprofit as a beneficiary of a retirement plan, life insurance policy, or financial account
- Giving real estate or other assets
How Legacy Giving Offers Lasting Support for Equity-Driven Education Nonprofits and Students
Offering Sustainability and Long-term Impact
Because planned gifts tend to be larger or enable contributions beyond what might be possible with one-time or even regular annual donations, they provide nonprofits with greater stability than other forms of giving. These gifts can help sustain programs that require consistent funding.
Enabling Growth and Innovation
Equity-driven education nonprofits often want to expand services into underserved communities, improve access, support re-entry students, and more. Legacy gifts provide the financial breathing room to try new initiatives, hire advisors, and invest in infrastructure that might otherwise be out of reach.
Multiplying Resources
Donating part of a retirement account or naming a nonprofit in a will may make it exempt from certain taxes or capital gains. That means more of your gift ends up supporting the nonprofit’s mission rather than being reduced by taxes or fees.
Spotlight on Higher Education and Job Training Nonprofits: On Point
On Point is a nonprofit organization focused on reducing barriers to higher education and alternative job training programs. Their mission includes helping both traditional and non-traditional students through every phase of their journey, from application through graduation, and even beyond into careers.
Their services include:
- Education services that support students with application, enrollment, transfers, finance, and academic success for two- and four-year college degree programs
- Assistance for students whose education has been interrupted or who are re-engaging with college after a gap
- Career services that help students transition into careers that build on their degrees or training
For many donors, legacy giving is a way to ensure that what’s important to you during your life — such as fair access to education and opportunity for all — continues to guide and transform future generations.
Build Your Legacy Today With On Point
On Point helps traditional and nontraditional students in the Central New York region overcome the barriers to higher education and careers. We support our students from application through graduation and beyond, empowering them to fulfill their dreams and achieve their potential, which ultimately benefits both the individuals and our community.
Our Education Services and Career Services teams provide a range of supportive resources designed to help On Point students and graduates find the right college or university, training program, job, and “life” things in between. But we can’t do it without you. Consider leaving a legacy of accessible higher education and job training programs for young people facing barriers to success by participating in our Legacy Giving program or our many other ways to give!
Ready to talk? Contact Lynne Pascale, Director of Development by email or at 315-399-3129.