A legacy of giving? How does it work?
There are many ways to leave a lasting legacy to your community. One of the most common and effective means of ensuring that the charitable organizations and causes you've loved during your lifetime will continue to be supported long after you're gone is to name the Mackinac island Community Foundation in your will. The tax benefits are significant.
Gifts to qualified charities such as the Community Foundation are completely exempt from estate taxes.
How it works: You include the Mackinac Island Community Foundation in your will as a bequest and we can assist you or your attorney with recommended language.
Once you determine the type of fund you would like your gift to go to, you notify us. You will then be included in the Legacy Society. You will also be included in our annual Community Celebration.
Your gift will be carefully invested and will grow over time. We handle all of the administrative details.
Making a bequest to the Mackinac Island Community Foundation is an easy way to transfer cash, appreciated stocks or bonds, real or personal property or other assets.
We will not ask how much is being left to the Foundation, but encourage you to discuss the intent of your gift with us to ensure we comply with your wishes. Bequests from a will are the most common way to leave a future gift to the Foundation. However, there are many other ways including making the Foundation a beneficiary of 401K/IRA plans and insurance policies. We are ready to work with your professional advisors to determine the best way for you to give.
For more information, contact us at 906-847-3701 or discuss a MICF legacy gift with your professional advisor.
The following individuals have notified the MICF of their planned gift through their will or estate plan. The MICF would like to thank them for their planned generosity in 2016 and hope others will be inspired by their example.
“Marsha and I value the MICF Legacy Society as a means for future enriching the quality of life for Mackinac Island residents, seasonal workers and visitors. We celebrate Mackinac Island’s caring and welcoming people, its historical sites and structures, its extraordinary four-seasons natural beauty, art & topography, and, above all, its enchanting atmosphere of specialness.”
–Chuk and Marsha Kleber