Planned Giving

Planned Giving is another way to invest in the future of Givens Foundation for African American Literature, the future of writing by Black writers, our children, and all those of whatever economic and social background, who seek a better life through education and enlightenment. 

A strong endowment provides a stable source of income and enables the Givens Foundation to plan for its future. A planned gift or bequest becomes a permanent legacy and provides benefits to the Givens Foundation year after year, generation after generation, ensuring the community’s stories continue to be shared.

For more information about planned giving, contact Tana Hargest, Executive Director, at 917-304-9321 or director@givens.org


Phebe Mae Givens Society

Named in honor of Phebe Mae Givens, the co-founder of the Givens Foundation, the Phebe Mae Givens Society, recognizes the generosity of individuals who have named the Givens Foundation in their will or trust or have designated the Foundation as beneficiary of an investment account or insurance policy.  The Givens Foundation expresses its gratitude to members by inviting them to special events and by listing their names in donor publications. The support of Phebe Mae Givens Society members ensures that the Givens Foundation can continue its mission to advance cultural understanding and learning through programs that inspire a passion for African American literature and writers for generations to come.


Ways to Give

Planned Giving includes gifts to the Givens Foundation through your will or living trust, your pension or IRA, a life insurance policy, a charitable trust, gifts of real estate or other appreciated assets. Using a planned giving vehicle, you can combine your estate planning and your financial and philanthropic objectives. Of course, advice from legal and tax counsel should be sought when considering a charitable gift of any type.

Charitable Bequests can be made in the form of a specific gift of cash or property, or as a percentage of an estate, whichever is best for your circumstances. You can also bequeath specific assets to the Givens Foundation including stocks, real estate, or other tangible property. A Charitable Bequest can be easily included in your Will or Living Trust when it is written or revised. A bequest may also be added through a Codicil, a separate document amending your existing Will or Living Trust. All charitable bequests are fully deductible from your gross estate. The following examples illustrate some bequest techniques. To ensure your estate is distributed in the manner desired by you and your heirs, we encourage you to discuss these matters with a qualified estate planner. For example:

"I bequeath (dollar amount or description of property) to the Givens Foundation, a non-profit corporation, located at 2822 Lyndale Ave So, Minneapolis, MN 55408.”

Specific Bequest is a gift of a particular dollar amount or a particular piece of property.

Residuary Bequest is a gift of all or part of the property remaining in your estate after debts, expenses, and specific bequests have been paid. When you use a percentage instead of a specific amount, your gift will stay relatively the same in proportion to your entire estate, regardless of unexpected increases or decreases in its value.

Contingent Bequest is a gift that takes effect only if the primary beneficiary or beneficiaries of the bequest predecease you.

Restricted Bequest limits the use of the gift to a specific program or purpose.

Retirement Plans, Pensions and IRAs You can name Givens Foundation as the beneficiary of your retirement plan, pension and IRAs. By using the standard beneficiary designation form that includes your name and social security number, you determine the primary beneficiary to be: The Givens Foundation for African American Literature.

Life Insurance Policies The Givens Foundation welcomes gifts of life insurance when the policy is paid in full and the Foundation is named as the owner and the irrevocable beneficiary of the policy. 

Charitable Trusts are legal entities that allow you to set aside money for particular causes or organizations, while retaining control over the investments and the distribution of funds. You get tax deductions for your donations, during your lifetime. For example:

Charitable Remainder Trust allows you to receive income for life from the trust assets with the trust principal distributed to charity upon your death.

Charitable Lead Trust allows you to distribute current income to the charities named in the trust agreement for a specific term, and distributes the trust principal to the individuals named by you at the end of the trust term.

Gifts of Real Estate allow you to leverage a significant asset for your benefit and for that of Givens Foundation. While supporting the Foundation’s mission, you can save on taxes, increase your income, and/or reduce the burden of maintaining or selling your property. Gifts can be made with residential, commercial, or undeveloped real estate.

Publicly Traded Securities Personally held for more than one year -such as stocks, bonds or mutual funds - are a tax-efficient way to support Givens Foundation. You may claim a charitable tax deduction based on the gift's full fair market value (the value of your gift is the average of the high and low of the security's value on the day your gift is made).

Closely Held-or Privately Held Securities You also may give Givens Foundation closely held securities in companies that are not publicly traded. Given the complexity of closely held securities and the specific Internal Revenue Service (IRS) regulations on valuing closely held securities, it is important to consult with your financial and legal advisors and the Givens Foundation before making your gift. If you are able to contribute your closely held securities to the Givens Foundation you may deduct the appraised value of your gift and avoid capital gain tax; however the IRS will require an appraisal from a qualified appraiser to substantiate your deduction.

Artwork, Rare Books and others Collectibles can be donated to the Givens Foundation for a charitable income tax deduction. The Givens Foundation will work with you to review the property to determine if it is an appropriate gift for the Foundation. A qualified appraisal of the donated property will be required for tax purposes.

As in the examples noted above, please note the full legal name of the Givens Foundation is The Archie and Phebe Mae Givens Foundation, and our Federal Tax number is 23-7338158. Our legal address is 2822 Lyndale Ave So, Minneapolis, MN 55408.

 

For more information about planned giving, contact Tana Hargest, Executive Director, at 917-304-9321 or director@givens.org