Charitable Remainder Trust Provides Annual Giving Beyond Donors’ LifetimesCarl and Alicia Bauer moved to Prescott Valley in 1994 from Colorado and two years later created a legacy for the enduring benefit of the Highlands Center for Natural History. “I am essentially a scientist,” Carl said, “and our primary interest was the HCNH’s mission of science education.”
In 1996, the Bauers established a charitable remainder unitrust with the HCNH as the charitable beneficiary. A charitable remainder trust is a planned charitable gift made while a person is living or through their will that also provides income for the person or a loved one.
Through an irrevocable trust, a person or persons receive fixed or variable payments for life or a term of years. At the end of the trust term, the reminder passes to a charitable beneficiary, in this case the Highlands Center for Natural History.
Charitable remainder trusts offer a great deal of flexibility. Payments may be made throughout a person’s life, and then directed to the spouse or another beneficiary after death. Or the trust may be established by a person’s will, benefiting a loved one for his or her lifetime. The eventual distribution to the charity will take effect only at the death of the trust’s beneficiaries.
“The Highlands Center was in its early planning stage, it appeared to me to be worthy of serious consideration as a resource for both children and adults in many scientific areas,” said Carl. “I was on the site committee for some time. We donated money and office items as needed. A beautiful print of a wolf that we donated hangs today in the building.”
Please contact Executive Director Dave Irvine, Board Member Jodi Padgett, or Volunteer Kristi Edwards to learn more about supporting HCNH through gift planning.