Cranberry Legacy Endowment

The minimum gift to establish a Legacy Endowment is $12,500. Consider multiple levels of Legacy Endowments:

• $12,500 – Pioneer

• $25,000 - Heritage

• $50,000 - Pillar

• $100,000 – Legend

• $250,000 – Visionary

• $500,000 – Cornerstone Benefactor

• $1,000,000+ - Generational Changemaker

You can donate an existing insurance policy or take out a new one that will be owned by the Cranberry Legacy Endowment to benefit the specific nonprofit/civic group of your choice.

• Insurance premiums are tax deductible in the year they are made.

• Insurance premiums made over $10,000 will be immediately recognized as a Legacy Endowment in the Annual Report.

• Premiums can be made in convenient annual payments or in a one-time payment.

• Company matches may be used to help pay premiums.

You can make a substantial gift through a transfer of residential, commercial, or undeveloped real estate if you own property not subject to a mortgage. 

• An outright gift of appreciated property offers maximum tax advantages. An appraisal is needed for IRS purposes.

• A gift of the remainder interest in your home or farm (called a “retained life estate”) can provide a current tax deduction, avoid capital gains taxes, and allow you to continue to live in your home.

• A gift (or partial interest) of appreciated property can be used to create a charitable remainder trust, which will provide you (and/or you and a second beneficiary) an annual income for life.

A charitable gift annuity is a simple combination of two concepts: a charitable gift and income for life. A gift annuity allows you to make a gift to your endowment and benefit from the following:

• Safe, fixed income for your life and the life of a loved one

• Tax savings-immediately and in the future

• Favorable treatment of gains

In exchange for an irrevocable gift of cash, publicly traded securities, or other assets, the Legacy Endowment agrees to pay one or two persons a fixed annual income. ​The minimum contribution to establish a gift annuity is $25,000. The minimum age for receiving annuity payments is 65. While cash is the most popular way to fund a gift annuity, you may also use maturing CDs, publicly traded stock, and other appreciated assets.

For gifts of $100,000 and greater, you can create a charitable remainder trust, which can be created during your lifetime or through your estate. When you transfer assets and name Cranberry Legacy Endowments (CLE) as the trustee, we invest the assets for the length of the trust term. This gift option provides you or your loved ones with annual income, for the rest of you or your loved ones' lifetime; or a term of no more than twenty years.  When the trust term is over, the remaining assets are distributed to a nonprofit/civic group that you designated in the initial agreement.

Designate a charitable gift to Cranberry Legacy Endowments after your death to benefit a specific nonprofit/civic organization. If you are interested in remembering the Cranberry Legacy Endowments (CLE) and/or a specific nonprofit/civic organization in your will or living trust, please contact CLE about your intentions. A representative will provide you with bequest language that may assist you and your attorney when writing your will or living trust. We will also help you craft a Statement of Intent for your gift, specifying how the gift should be used when received by the Legacy Endowment.