The Legacy Circle is unique group of individuals that have remembered the Highlands Center in their estate plans. Gift planning does not require great wealth nor does it need to be complicated. From bequests to charitable gift annuities, there are many ways to become part of the Legacy Circle.
Legacy Circle members are also invited to special exclusive programming throughout the year. It is our way of saying “thank you” including us in your estate plans. You can support our mission beyond the grave—contact us to learn more.
The simplest gift is a bequest in your will or trust that directs specific assets or a percentage of your estate to HCNH.
Charitable Remainder Trusts
Through an irrevocable trust, you receive fixed or variable payments for your lifetime or a term of years. The reminder passes to HCNH’s endowment.
Charitable Gift Annuities
A simple contract guarantees you a fixed income for life in exchange for the remaining residuum after your death benefiting HCNH’s endowment. Annuity rates are set by the American Council on Gift Annuities.
Retirement Plan and Insurance Beneficiary Designations
You can designate HCNH as the beneficiary of a retirement plan such as an IRA or 401(k) or a life insurance policy. At death, the assets transfer to the HCNH, reducing estate and income taxes.
Payable on death provisions are effective for the seamless transfer of certain assets such as retirement accounts, bank accounts, and investment accounts.
Charitable Remainder Trust Provides Annual Giving Beyond Donors’ Lifetimes
Eunice Lovejoy was reared in Harrisonburg, Virginia, on an 80-acre farm in the Shenandoah Valley. An only child, she always enjoyed nature. Eunice enjoyed escaping to the woods often building playhouses with rocks to stake out the rooms. Later in life, she met Albert and they both attended college in North Carolina. After graduation, they lived in Ohio for 32 years where Albert taught at Otterbein College and Eunice worked as a librarian at Ohio State University. Eunice and Albert retired to Prescott in 1988. Around 1990, they became involved with the Nature Center. When the Nature Center morphed into the Highlands Center for Natural History, the Lovejoys continued their support and later applauded the Center’s move to its present location. They attended programs, such as lectures, plant sales, and wine tastings, in addition to hiking the nearby trails. Eunice also took advantage of opportunities to indulge in her love of botany. She began taking classes at Yavapai College – especially classes about ﬂ owers.Albert passed away in 2009.
“Albert and I had been utilizing charitable gift annuities (CGA) for years with organizations like The Nature Conservancy,” according to Eunice. They felt that CGAs would supply them with a reliable income and provide a steady income stream to the Eunice Lovejoy organizations they supported. “One day, I had coffee with Dave and asked if HCNH was utilizing anything like charitable gift annuities,” Eunice said. “Dave replied that they were. I was pleased to know that HCNH could facilitate this charitable option.” The next step was Eunice and Dave meeting with Jodi Padgett, certified ﬁnancial planner and HCNH board treasurer, and a local representative of the Arizona Community Foundation, the organization that will serve as administrator for this charitable giving vehicle.
A gift annuity creates a ﬁxed, permanent stream of income for the donor and a beneficiary based on a standard rate agreed to at the beginning of the contract. The standard rate is based on the age of the income recipients and is generally derived from a table published by the American Council of Gift Annuities. Eunice will receive an annual 8.6% payout of the gift value for life.
Tax benefits generated by the gift annuity may include an income tax deduction, avoidance of capital gain tax on the sale of an appreciated asset, and reduction of estate taxes. Income from the gift annuity is taxable, but a portion of the income may be income tax free.