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Here's some information that may help you achieve your family's financial and charitable goals with the United Way Foundation.
The United Way of the Midlands Foundation will accept unrestricted gifts, and gifts for specific programs and purposes, provided that such gifts are not inconsistent with its stated mission, purposes and priorities. The following gifts are acceptable: Bequests; cash; tangible personal property; securities; real estate; remainder interests in property; oil, gas, and mineral interests; bargain sales; life insurance; charitable gift annuities; charitable remainder trusts, charitable lead trusts; retirement plan beneficiary designations; and life insurance beneficiary designations. The Foundation will not accept gifts that are too restrictive in purpose, these include gifts that are for purposes outside the health and human service mission of United Way and the UWM Foundation.
All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Gift Acceptance Committee of the Foundation.
When you are considering making a gift to the UWM Foundation, we encourage you to seek the assistance of a personal, legal and financial advisor in matters relating to your gift so that you may understand the resulting tax and estate planning issues.
Getting Started: A bequest is a gift that allows you to provide permanent financial support for programs and services our organization provides to 50+ health and human service agencies and other direct United Way services in the Omaha, Nebraska and the Council Bluffs, Iowa metro area. A gift to our UWM Foundation’s Endowment Fund is truly a way to make your philanthropic vision and your philanthropic gift last forever.
Some Questions about Bequests
1. How do people usually make bequests to United Way of the Midlands Foundation?
Some give a dollar amount or specific property. Others give a percentage of the estate residue. If all of the residue is put in trust for the benefit of a family member (perhaps a surviving spouse), UWM Foundation may be given all or a share of the trust remainder after that person’s lifetime.
2. Which do you prefer – cash or property?
Either cash or property (or both) is fine. If it is property we can use, we will use it. If we cannot use it, we’ll sell it and use the proceeds for our work. Prior to accepting a gift of property, the donor must provide an environmental property scan.
3. Should I specify how my bequest is to be used?
An unrestricted bequest will allow our Board of Directors to use the gift where it is most needed. Of course, you also have the right to direct that your bequest be used for a specific purpose as long as it supports our mission and purpose.
4. Should I make a bequest in honor or memory of someone?
Yes, if this is your wish either for yourself or someone special in your life. We’ll be happy to honor your request. We will suggest ways to grant proper recognition.
5. Should I tell my heirs about my intended gift to the United Way of the Midlands Foundation?
It is important to share your plans with your heirs as it can create a greater understanding of your reasons. Usually, a donor has already provided generously for the other beneficiaries.
6. Would you like to know that I am planning to leave United Way of the Midlands Foundation a bequest?
Yes - and we would like to know of your intent so that we can show our gratitude for your generosity. Also, we have staff and professional advisors who are ready to help you achieve your financial and philanthropic goals.
Sample bequest language:
(Note: Federal ID# Given Upon Request)
Specific Bequest: I give, devise and bequeath $X or asset X to United Way of the Midlands Foundation, a 501 (c) (3) non profit organization located at 1805 Harney Street, Omaha, NE 68102, for its general use and purpose.
Percentage Bequests: I give, devise, and bequeath X% of my estate to United Way of the Midlands Foundation, a 501 (c)(3) non profit organization located at 1805 Harney Street, Omaha, NE 68102.
Combining Percentage and Specific Bequests: I leave the greater X% of my estate or $X to United Way of the Midlands Foundation, a 501 (c)(3) non-profit organization located at 1805 Harney Street, Omaha, NE 68102.
Residuary Bequests: I give, devise, and bequeath X% or the rest, residue, and remainder of my estate consisting of property, both real and personal, wherever situated, which I may own or be entitled to at my death, to United Way of the Midlands Foundation, a 501(c)(3) non profit organization located at 1805 Harney Street, Omaha, NE 68102.
Contingent Bequests: I give, devise, and bequeath to Named Person, $X, X%, or the rest, residue, and remainder of my estate. Should Named Person predecease me, I direct this sum or percentage to United Way of the Midlands Foundation, a 501 (c)(3) non-profit organization located at 1805 Harney Street, Omaha, NE 68102.
Unrestricted Bequests: I give, devise, and bequeath $X to United Way of the Midlands Foundation, a 501(c)(3) non profit organization located at 1805 Harney Street, Omaha, NE 68102, to be used by the Foundation Board thereof in such a manner as they deem most useful for the purposes of United Way of the Midlands.
Restricted Bequests: I give, devise, and bequeath $X to United Way of the Midlands Foundation, a 501 (c)(3) non-profit organization located at 1805 Harney Street, Omaha, NE 68102 for......
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the endowment fund of the Foundation. The annual income thereof to be used by the Foundation Board in such a manner as it may direct.
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for Named Endowment Fund. The annual income thereof to be used for (provide the special purpose so designated by the donor and the operating parameters of the fund).
- _______ (provide examples of programs or other opportunities for restricted funding).
If you are interested in making a lasting impact on our community, here's how to contact us:
Call the Foundation office at (402) 522-7902
E-mail: sdouglas@uwmidlands.org
Write: United Way of the Midlands Foundation, 1805 Harney Street, Omaha, NE 68102
NOTE: The information provided is not intended to be legal or tax advice. It is always advisable to consult with a qualified estate-planning attorney when drafting your will to ensure your wishes for your family and the United Way of the Midlands Foundation are properly documented.
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