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5 Ways to Make a Lasting Impact on Adult Literacy
Posted by Laura McLoughlin on April 02, 2021 in categoryNews

Most people want to leave a lasting impact on the world and be remembered for how they helped others. People like Sarah Park Inglis, of Pompton Plains, New Jersey, who chose to make adult literacy part of her legacy. 


Sarah, who grew up in Minneapolis, Minnesota, had a love for science, social justice, and her faith, and she was a long-time donor and supporter of the mission and work of ProLiteracy. Sarah passed away last year at the age of 84 


Nearly 20 years ago, Sarah established a bequest, or will provision, for ProLiteracy. Her generosity that impacted countless learners while she was alive is still making a huge impact on the adult literacy cause.  


If you, too, want to leave a legacy of helping others, there’s a number of options for planned giving to support the causes you care most about—like adult education.  


Here are five planned giving gift types to consider if you’re thinking about making literacy part of your legacy: 

  1. A bequest is perhaps the easiest and most flexiblway to have a lasting impact on ProLiteracy. Just by adding one sentence to your will, you can complete your gift. 
  2. A charitable gift annuity can provide regular payments in retirement and you qualify for tax benefitsIt’s as easy as contacting ProLiteracy’s development department. 
  3. A designation of life insurance is an easy way to pass along income to ProLiteracy without rewriting your will or trust. These assets pass directly to ProLiteracy without going through the probate process. To change your life insurance beneficiary, contact your insurance provider and designate the beneficiary to be ProLiteracy Worldwide, tax ID 16-6076384. 
  4. Through a donor advised fund (DAF) you can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts. You can also create a lasting legacy by naming ProLiteracy the beneficiary of the entire account or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to ProLiteracy. Please consider adding ProLiteracy to your list of contributions. 
  5. A charitable remainder trust is an option if you have built a sizable estate and are looking for ways to receive reliable payments. At the end of the trust term, the balance in the trust goes to ProLiteracy. These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits: the annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments. The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments. 

To discuss planned giving, contact ProLiteracy’s Philanthropic Planning Officer Wallace Barkins Jr., CAP® at wbarkins@proliteracy.org. 

 





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