Leave a Legacy
When you give, you are contributing to the creation and advancement of educational opportunities and to the expansion of the awareness and understanding of psychoanalytic concepts.You don’t have to be rich and famous to make a contribution that can make a difference. Providing first for the well-being of one’s family and loved ones, you can also bequeath an amount or percentage of your assets to The Denver Institute for Psychoanalysis to help our programs live on. Your gift will
Planning for the future and creating the legacy you wish to leave is one of the most effective ways to ensure a lasting impact. Making a gift in your will or living trust can guarantee that your legacy endures.
Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified. Below is suggested language to take to your attorney for use in drafting your bequest.
Sample bequest language:
A Specific Amount or Percentage:
"I give, devise and bequeath to the Denver Institute for Psychoanalysis, a non-profit, charitable organization organized under Colorado law, currently located at 13001 E 17th Place, Room E2327, Aurora, CO 80045, tax ID 23-7065236, $__________ (or _______%) of the residuary of my estate, after all other specific provisions have been fulfilled to be used for its general purposes and support."
For a Specific Purpose:
"I give to the Denver Institute for Psychoanalysis, a nonprofit corporation organized under Colorado law, currently located at 13001 E 17th Place, Room E2327, Aurora, CO 80045, tax ID 23-7065236, or its successor thereto, _________ [written amount or percentage of the estate or description of property]. This gift should be used for (state purpose) if and so long as the Denver Institute for Psychoanalysis determines that the need exists. If the Denver Institute for Psychoanalysis shall determine at the outset or at a later time that the need does not exist, or no longer exists or for some reason it is not possible (or prudent) to administer my gift as originally intended, then Denver Institute for Psychoanalysis may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."
FAQ on Restricted and Unrestricted Funds
Our programs are funded by tuition, faculty dues and the generous contributions from our faculty and donors in the community. The organization may use the donation where it is needed most.
A restricted donation should have some ‘wiggle room’ when specifying how the money should be used because organizations need to keep up with the changing of time.
The Institute currently has seventeen restricted funds in our portfolio that you may contribute to.
A simple way to make a legacy gift is to name a charitable organization a beneficiary of a retirement plan, life insurance, brokerage account or any account requiring a beneficiary.
A beneficiary designation is advantageous to you because the IRS will want to collect the tax due on all pre-tax accounts,up to 70% of a plan’s value lost to taxes . If you left this money to an heir, they will be responsible for paying the tax, whereas a nonprofit is tax exempt. It is better for you to leave the cash and securities to your heir, or at least reduce the amount of tax your heir would owe by making your nonprofit donations from your pre-tax accounts.
If you make a beneficiary gift, please let the Denver Institute for Psychoanalysis know and you will be invited to join the Gaskill Society. All information regarding planned gifts is held in the strictest of confidence and you can choose to have your gift remain anonymous.
Your IRA, 401k, 403b, SEP IRA, KEOGH or other retirement plan is a practical way to leave a legacy. You can name the Denver Institute for Psychoanalysis a full or partial beneficiary on a “change of beneficiary form.” This allows you to plan for what you feel you can afford now, and make adjustments in the future.
You can leave a legacy by donating a paid-up insurance policy you may have outgrown, or by naming the Denver Institute for Psychoanalysis as a beneficiary. Life insurance paid to a charity is not subject to Federal estate tax and you may receive a tax deduction for premium payments.
More about beneficiary designations.
The Denver Institute for Psychoanalysis is a 501(c)(3) organization. Federal Tax ID# 23-7065236.
A tax receipt will be issued for use in the final tax return. The fiscal advantages that follow from charitable bequests can dramatically reduce the taxes to be paid out by the estate.
Information on this site is for educational purposes only and not to be considered legal advice. Please consult your professional advisors when making decisions.