Legacy Giving

OUR FUTURE, YOUR LEGACY

The Himalayan Cataract Project Legacy Society honors those special supporters who have provided for our future by including HCP in their estate plans.

Making a bequest or other legacy gift to the Himalayan Cataract Project is a deeply personal and effective way to support our work. Legacy gifts make a meaningful difference in our ability to provide sight-restoring surgeries and essential eye care, and train for doctors in underserved countries so that quality care is available to everyone who needs it, well into the future.

Legacy Society members receive our monthly newsletter, special updates on our programs, invitations to special events, and are listed in our Annual Report (unless they choose to remain anonymous).

We hope you will notify us when you have included us in your future planning so that we may thank you and welcome you as a new member of our Legacy Society.

The following will provide you with an overview of the ways you can make a difference in the lives of needlessly blind people around the world with a legacy gift. We also encourage you to consult your legal and financial advisor to determine which of these ways of giving would work best for you.

  • A Gift in Your Will or Living Trust
  • Beneficiary Designations
    • Retirement Accounts
    • Life Insurance Policies
    • Bank and INvestment Accounts and Commercial Annuities
  • Charitable Gift Annuities
  • Charitable Remained and Lead Trusts
    • Charitable Remainder Trusts
    • Charitable Lead Trusts

BEQUESTS: A GIFT IN YOUR WILL OR LIVING TRUST

Make your will a document that begins a life.

A gift in your will or living trust is one of the most effective ways to provide for HCP’s future. The gift may be easily included in your will when it is written, or may be added through a simple codicil or amendment. You may wish to leave HCP:

  • A stated dollar amount
  • A percentage of your residual estate (what remains after debts, expenses, taxes and specific bequests that have been paid)
  • A specific asset, such as securities or other marketable property

A gift to HCP in your will allows you to retain your asset during your lifetime. In addition, your estate may benefit from a charitable estate tax deduction.

When drafting your will, your attorney may request the following information:

Legal Name: Himalayan Cataract Project, Inc.

Address: P.O. Box 55

Waterbury, Vermont 05676

Phone Number:

Tax ID #: 03-0362926

Nonprofit Status: 501(c)(3) not-for-profit corporation established in Vermont on September 14,1999.

Sample Language:

“I give and bequeath to the Himalayan Cataract Project, Inc., P.O. Box 55, Waterbury, Vermont 05676 [the sum of _________ Dollars ($__)] [ __ % of the rest, residue and remainder of my estate], to be used for its general charitable purposes.”

BENEFICIARY DESIGNATIONS

Naming HCP on a retirement or other account, or on a life insurance policy, is a simple way to provide for HCP’s future without writing or re-writing your will or living trust. These assets will pass directly to HCP without going through the probate process. Please as your retirement plan administrator or institution for the appropriate form.

Retirement Accounts

Many donors name HCP as a beneficiary of all or a specified percentage of their IRA, 401(k), 403(b) or other retirement plan.

Life Insurance Policies

If you have a life insurance policy that is no longer needed by your family, designating HCP as a beneficiary offers a simple way to support our work.

Bank and Investment Accounts and Commercial Annuities

You may leave a legacy for HCP by naming us as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account or a commercial annuity, where permitted by state law and the financial institution.


CHARITABLE GIFT ANNUITIES

With a charitable gift annuity, you can provide lifetime payments for yourself or a loved one and, as part of your legacy, help and ensure the ability of HCP to respond to future needs.

A charitable gift annuity (CGA) allows you to turn an asset into a fixed-income stream while receiving an income tax deduction and providing future support for HCP. You enter into a contract with your local Community Foundation or financial institution to provide you and/or your beneficiaries with a guaranteed annual annuity for life. At the end of the contract, typically upon your death, HCP receives the remaining funds.

The amount of the annual payment is dependent upon your age and the size of the gift. Establishing an annuity is a way to enjoy income tax benefits as well as estate tax savings, while ensuring that future support for HCP and the people we serve will be available.

For more information on Charitable Gift Annuities, contact your local Community Foundation or financial institution for information on how you might set up an annuity to benefit HCP.

CHARITABLE REMAINDER & LEAD TRUSTS

Charitable Remainder Trust

A charitable remainder trust is a tax-exempt irrevocable trust designed to reduce the taxable income of individuals. A charitable remainder trust allows you to make a significant gift toward the future of HCP’s work while providing an income for yourself or loved ones. After transferring cash, securities, or other assets to a trust, a trustee (your financial institution, broker, or Community Foundation) invests the assets, and the trust pays income to you or to individuals you name for life, or for a set term of years. When the trust terminates, HCP receives the remainder.

Charitable Lead Trust

With a charitable lead trust, HCP receives the income rather than the remainder of the trust. A charitable lead trust allows you to provide a stream of income for HCP’s work for a stated period of time, after which the assets revert to you, your estate, or your heirs. This reduces the taxes owed by your heirs, once they inherit the remaining balance. It also presents them with other potential tax benefits, such an income tax deduction for charitable donations, and savings on estate and gift taxes.

For more information on Charitable Remainder Trusts and Charitable Lead Trusts, contact your local Community Foundation or financial institution for information on how you might set up an annuity to benefit HCP.

Joining the HCP Legacy Society is an impactful way to give without affecting current finances. A Legacy Society gift will ensure that thousands will regain their sight and their lives well into the future.

We are here to help. Please contact HCP’s Development Office at [email protected] to answer your questions.

Thank you for considering this special commitment to Himalayan Cataract Project and the people we serve.

Leaving a legacy isn’t leaving something behind, it’s about leaving something ahead.