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The Legacy Society

The Legacy Society is a visionary initiative established to provide an alternative giving mechanism.

Planned giving is a strategy that helps donors maximize the personal benefits of their charitable giving, and allows them to make extraordinary gifts possible. Gift or estate planning enables donors to integrate generosity with tax planning to attain mutually beneficial outcomes. Through a planned gift, members can give back to their profession and ensure the legacy of the auction industry.  

Wills and Trusts (naming NAF in your will or trust).

This method of giving offers several choices:

• Specific Bequest: Identifies the property or value of the amount given
• Residuary Bequest: Identifies a percentage of the estate or trust designated for the NAF after all other bequests and obligations are met
• Contingent Bequest: Identifies property to be given to the NAF provided other conditions are met

Retirement and Pension Plans

Naming the NAF as beneficiary can exempt these gifts from income and estate taxes

Charitable Remainder Trusts (established for a term of years or for life)

Cash or property is transferred to the trust:

• The income beneficiaries receive annually an amount equal to a fixed percentage of the trust's fair market value (unitrust) or a fixed dollar amount (annuity trust).
• Upon termination of the trust, the assets are transferred to your named fund at the Community Foundation to support your individual or personal charitable giving goals.

Lead Trusts

The NAF receives an annual distribution from the charitable lead trust, and you may reclaim the principal or, ultimately, pass it to another person at the end of the term.

Charitable Gift Annuity (a contract returning income to the donor and/or spouse for life)

The principal used to establish the annuity becomes part of the NAF Trust at the time of the donor or spouse's death. This approach generates an immediate income tax deduction and avoids capital gains tax on gifts of appreciated long-term securities.

Deferred Payment/Charitable Gift Annuity

This giving option allows you to defer receipt of income from the annuity, resulting in either a greater immediate income tax deduction and/or a higher future income stream.

Favorable Tax Advantages:

Gifts to the NAF qualify as charitable contributions and are deductible for federal income tax purposes to the maximum extent provided by law.