Mission Statement

A not-for-profit foundation that operates in the public interest to encourage a prosperous, sustainable future through education and experience in engineering, science, technology and innovation.

The foundation believes that technological advances should be driven by the needs of humanity and that an inspired knowledge of science, engineering and technology can positively influence quality of life, career options for young people, and the prospects of future generations.

Because life’s inspirations begin in childhood, the foundation will support children in their discovery, appreciation and enjoyment of science and technology by providing resources, experiences and learning opportunities.

Helping GRLIC Grow!

General Operating Fund
To meet yearly Greater Roxbury Learning Initiative Corporation operating costs and goals.
Scholarship Fund
To help defray the costs to an audience of people who cannot afford to attend programs at the GRLIC.

Endowment Fund
To support GRLIC programs by providing annual income from the principal invested. (Principal is invested and interest is used to meet annual operating expenses and goals.)

Cash
Cash donations can be made to GRLIC for annual membership, events, and special fund drives. Cash donations also can be made through your personal estate plan directive to any of the GRLIC  funds listed above. Monthly or other periodic giving plan options are also available.

Bequests, Estate Plans, Wills

Bequests
A bequest is an outright gift of cash, securities, bonds, real estate, or other assets specified in a will, either as a designated dollar amount or as a percentage of an estate. The GRLIC could also be named as a remainder beneficiary to receive funds only after specific sums have been paid to individuals.
Bank, Brokerage and Other Accounts
You can pass an asset directly to GRLIC after your lifetime by naming the GRLIC as the beneficiary of an account (such as a bank or brokerage account or a certificate of deposit).
Securities
Gifts of long-term appreciated stock, mutual funds or bonds offer a quick, easy and tax-efficient way to make a significant contribution to GRLIC.
Personal Property
Donating gifts of tangible property is another way to support GRLIC while potentially reducing your taxable estate.
Real Estate
A gift of real estate offers financial rewards for you and GRLIC. You may reserve certain use rights if you wish.
Retirement Plan
Naming GRLIC as one of the beneficiaries or sole beneficiary of your retirement plan is another easy way to support the Center. Such income would be taxable to your heirs but tax free for GRLIC.
Life Insurance
If appropriate, you can designate GRLIC as beneficiary or sole owner of a life insurance policy. After your lifetime, the benefits from your policy pass to the Center free of federal estate tax.
Wills
One can provide for the GRLIC through their wills. This type of gift helps ensure the future viability of the Center. Virtually any type of asset can be given, and bequests to charitable organizations like the GRLIC also pass free of Federal, and often State, estate taxes. Given that current federal estate tax rates are nearly 50%, this can mean significant savings.

Other Types of Deferred Gifts

Charitable Remainder Trust
A charitable remainder trust can be funded with cash or property. The donor then receives income from the assets for their lifetime while qualifying for a charitable deduction, and reducing potential capitol gains and estate taxes. Upon the donor’s death and / or that of a loved one, the trust assets are distributed outright to GRLIC.
Charitable Lead Trust
Assets are transferred to a trust that makes payments to GRLIC for a specified number of years, after which time the assets are transferred to the donor’s heirs, with little or no estate and gift taxes. This may make good sense for anyone in the top estate and gift-tax bracket.
Charitable Remainder Annuity Trust (or Charitable Gift Annuity)
This gift option can provide the donor or another beneficiary with dependable income for life and it may provide the donor significant tax savings. Donors interested in this gift option should discuss it thoroughly and work with a third-party organization that is qualified to develop such instruments.

If you would like to obtain more information about planned giving you can contact us at 607-32-4754 or grlic100@gmail.com. If you have included GRLIC in your estate plans, please let us know so we can thank you in your lifetime. Unless you specify otherwise, we will not publish your name or provide this information to anyone.

No comments:

Post a Comment