Planned Giving

1. What giving vehicle is right for me?
2. What do I want my gift to support?
3. How much or what do I want to give?

Making a gift through your estate can be as simple as creating a codicil in your will. See the attached wording to do so. It may require you to communicate with your attorney to do this, but the cost is normally minimal. A codicil directs your estate to give something specific to the Foundation without rewriting your entire will, like:

To leave a gift in your will, here is the suggested wording to share with your attorney: “I live and bequeath unto Phi Gamma Delta Educational Foundation, Inc., the sum of $____ or _____ percentage of my estate (or specific securities or other property). Said Foundation is a nonprofit 501 (c) 3 corporation (Federal ID number is 52-6036185), organized under the laws of the commonwealth of Kentucky, with administrative offices at 1201 Red Mile Road, PO Box 4599, Lexington, KY 40544-4599. This gift is unrestricted for general foundation purposes.”

Or, you can use securities or property as the donation.

Looking for a Lifetime Income Stream?

There are options for you to make a gift to the Foundation and receive regular payments during your lifetime or your lifetime and your spouse’s lifetime. Charitable gift annuities, offer an immediate tax deduction and pay you income. An annuity can be helpful to you if you have appreciated securities or low or non-income producing securities or property. These simple contracts usually do not require an attorney. Learn more.

If your gift is larger than $25,000 you may create an endowment, which means that the Foundation will use the appreciation & income from your original gift to fund awards and keep the principal in perpetuity.

Your Attorney’s Role

Your estate or tax attorney can assist you in creating an estate plan that best utilizes all tax and estate planning vehicles to minimize tax, maximize income and support Phi Gamma Delta.

The Foundation’s Role

The Foundation’s role is two fold. Our job is to make sure your gift is carried forward to benefit Phi Gamma Delta and its members as you intended and to publicly recognize brothers who have the foresight to make these extremely important gifts.

If you would like to speak with a brother about your wishes and plans, contact Ben Robinson, Executive Director of the Foundation at 859-255-1848 ext 133 or email him.

What Would You Like to Do for Phi Gamma Delta?

An estate gift can make a big impact in the lives of our undergraduate brothers. But, what would you like your gift to accomplish? Here is a list of ways that your gift can help impact the lives of our members. Your gift restricted to one of these programs will be used to support the Fraternity’s educational programs, such as:

Leadership Training: The Fraternity has 4 leadership training programs developed by Ken Blanchard (Cornell 1961), co-author of the “One Minute Manger” and dozens of other leadership books.

Alcohol Education: Phi Gamma Delta uses 3 basic alcohol education programs to teach responsible use of alcohol to our members.

Scholarships: The use of scholarships to help maintain Phi Gamma Delta’s strong academic GPA is key to our success in building chapters that support the University’s mission and support the academic lives of our members.

Unrestricted Gift: You are helping to maintain the Foundation’s operation including funding the educational grant to the Fraternity and scholarships while allowing the Foundation to use your gift where it is the most needed at the time.

Chapter Restricted Gift: You may want to restrict your gift to support a specific chapter’s educational programs. These programs most frequently include chapter scholarships and chapter housing funds for educational use in the house.

Leave a Gift in Your Will: To leave a gift in your will, here is suggested wording to share with your attorney:

“I live and bequeath unto Phi Gamma Delta Educational Foundation, Inc., the sum of $____ or _____ percentage of my estate (or specific securities or other property). Said Foundation is a nonprofit 501 (c) 3 corporation (Federal ID number is 52-6036185), organized under the laws of the commonwealth of Kentucky, with administrative offices at 1201 Red Mile Road, PO Box 4599, Lexington, KY 40544-4599. This gift is unrestricted for general foundation purposes.”

If you have questions, email Ben Robinson Ben Robinson or call him at 859-255-1848.

Everyone’s estate planning is different. We encourage you to seek advice from qualified estate planning professionals. As you prepare your estate plans there are some basic facts that can assist you in your work. Your estate or tax attorney should be involved in any plans and we are happy to provide you with assistance documenting your planned gifts to the Educational Foundation.

Here are definitions and examples of some of the most frequently used estate planning vehicles:

A Will: A testator’s direction in writing, controlling the disposition of their property at death.

To leave a gift in your will, here is suggested wording to share with your attorney: “I leave and bequeath unto Phi Gamma Delta Educational Foundation, Inc., the sum of $____ or _____ percentage of my estate (or specific securities or other property). Said Foundation is a nonprofit 501 (c) 3 corporation (Federal ID number is 52-6036185), organized under the laws of the commonwealth of Kentucky, with administrative offices at 1201 Red Mile Road, PO Box 4599, Lexington, KY 40544-4599. This gift is unrestricted for general foundation purposes.”

Codicil: An amendment to a will. A codicil can let part of a will stand and modify or eliminate others parts. Because a codicil is considered an amendment to a will, it must be executed with the same formality as an original will and comply with all rules.

Charitable Gift Annuity: A charitable gift annuity is a transaction in which an individual transfers cash or property to a charitable organization in exchange for the charity’s promise (contract) to make fixed annuity payments to one or two life annuitants.

Example 1: Mr. Jones, age 70, transfers $100,000 on January 1, 2008, to a charitable organization in exchange for a single life immediate charitable gift annuity. The suggested ACGA annuity rate corresponding to his age is 6.5%. Mr. Jones will receive $6,500 per year.

Example 2: Mr. and Mrs. Jones, both age 70, transfer $100,000 on January 1, 2008, to a charitable organization in exchange of a joint and survivor life immediate payment charitable gift annuity. The annuity rate corresponding their ages is 5.9%. Mr. and Mrs. Jones will receive $5,900 per year as long as at least one of them survives.

Charitable Remainder Trust: A charitable remainder trust that provides for a specified distribution, at least annually, to at least one non-charitable income recipient (you) for a period specified in the trust instrument, with the remainder interest paid to at least one charitable beneficiary (the Foundation).

IRAs: Qualified retirement plans and individual retirement accounts are trusts or custodial accounts that hold a person’s tax deferred retirement assets. Their principal tax advantage is income tax deferral. They include IRC Sec. 401(a) Qualified Retirement Plans (profit sharing, ESOP, 401 (K) and Keogh plans); Sec. 408 (IRAs, SEPs and SIMPLE Plans) and Sec. 403(b) (tax sheltered annuities and custodial accounts).

Life Insurance: May be gifted to the Foundation by assigning the Foundation as beneficiary of the policy.

If you are interested in these or any other planned gift vehicles, email Ben Robinson or call 859-255-1848.