Morrison Legacy Society

Naming Morrison in your will or life insurance policy is a meaningful way to show your support for the work we do in the community.

When you name Morrison in your will, you can choose to bequeath a monetary sum or a percentage of your estate and take a 100% estate tax deduction.

If you would like to add Morrison to your current will or life insurance policy, you may sign a provision a codicil or trust amendment that states any changes. You may also gift your fully-paid life insurance policy or make Morrison the beneficiary of an existing policy. Another option is to take out a new policy with Morrison as the owner and beneficiary.

This gift is:

Flexible: You can direct your support to any program or the Morrison Foundation.

Revocable: A bequest can always be modified if your interests or circumstances change.

Financially smart: A bequest costs you nothing now, and they are not subject to state or federal estate taxes later.

Many retirement plans include the option to bequeath your retirement plan assets to nonprofit organizations such as Morrison. Such assets are then free of estate and income tax, which means more of your gift goes directly to support Morrison’s services.

If you are 70 ½ or older, you can make a tax-free distribution from your traditional or Roth IRA to Morrison up to $100,000 without incurring income tax on your withdrawal.

Charitable remainder trusts are individual trusts that are generally funded with cash or appreciated property or stock.

Charitable Lead Trusts pay income to Morrison for a number of years (or a lifetime) and then transfers the remaining assets in the trust back to you or to another individual of your choice. Charitable lead trusts are not tax-exempt trusts, meaning they are subject to the same income and estate tax laws as other non-exempt trusts.

Charitable Remainder Unitrusts distribute a variable amount either for a set term of years or for the lifetimes of the beneficiaries. Income can be distributed as a fixed percentage of trust’s annual value or the net income of the trust. Morrison then receives the remainder of the trust assets after the term of the trust ends.

Advantages include:

• Annual income for yourself and/or other beneficiaries
• A partial income tax charitable deduction in the year the trust is funded
• Not immediately incurring capital gains tax on appreciated long-term assets
• Freedom from the burden of managing the property you put in the trust

Donating stocks or mutual funds to Morrison is a smart and simple way to help. By making a gift of appreciated securities, you may be able to avoid capital tax gains, diversify your portfolio, and/or secure a stream of income.

Please note that the securities you use to make your gift must have been held by you for more than one year in order to be fully deductible.

Morrison will sell the property and use the proceeds to support vital programs. In very limited cases, we may use the properties for our own purposes.

Most gifts of personal property are made outright. Receive gift credit and an immediate income tax deduction for the appraised value of your accepted gift, provided that it satisfied the “related use” requirements of the IRS.

Morrison may hold the property, display, or use it, or we may sell it and use the proceeds to advance our work in the community.

You send a check, wire funds, or contribute online to Morrison. We then use your donation for the purposes you specify.