Memorials

A gift in your will or living trust.

You want to leave money to the Tribute of Life Foundation in your will. You also want the flexibility to change your will in the event that life circumstances change.

You can do both. In as little as one sentence, you can complete your gift. This type of donation to the TOL Foundation in your will or living trust helps ensure that we continue our mission for years to come:

“I give to the Tribute of Life Foundation, a non-profit charitable organization currently located at 12120 Colonel Glenn Road, Suite 10,000 Little Rock, AR 72210, or its successor thereto, _____________________(written amount or percentage of the estate or description of property)________ for its unrestricted use and purpose.”

A donor advised fund.

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the TOL Foundation or other charities. You cannot direct the gifts.

A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the Tribute of Life Foundation and other charities.

You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.

In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.

A memorial gift.

If you have a loved one who has been impacted by hospice services, establishing a memorial or tribute gift is a meaningful way to honor your loved one or celebrate a special occasion such as a birthday while supporting the work of our mission. Your gift will be a lasting tribute to your loved one and make a difference in the lives of those we serve.

An endowed gift.

An endowment gift to the Tribute of Life Foundation today provides an assurance that hospice services will continue as the highest level of care. When you make a donation to our endowment, you give a gift with both immediate and long-term benefits.

Endowment donations are invested. A portion of the annual income from the investment is used to address immediate needs at the TOL Foundation. The remaining funds are reinvested to ensure indefinite support.

A charitable gift annuity.

With a charitable gift annuity you can support the Tribute of Life Foundation and feel confident that you have dependable income in your retirement years. A charitable gift annuity involves a simple contract between you and the Tribute of Life Foundation where you agree to make a gift to the TOL Foundation and we, in turn, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.

A charitable remainder trust.

If you have built a sizable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust. A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create. At the end of the trust term, the balance in the trust goes to the Tribute of Life Foundation.

These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:

• The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
• The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

A charitable lead trust.

You can benefit from the tax savings that result from supporting the Tribute of Life Foundation without giving up the assets that you'd like your family to receive someday with a donation in the form of a charitable lead trust. There are two ways that charitable lead trusts make payments to the TOL Foundation:

• A charitable lead annuity trust pays a fixed amount each year to the TOL Foundation and is more attractive when interest rates are low.
• A charitable lead unitrust pays a variable amount each year based on the value of the assets in the trust. With a unitrust, if the trust's assets go up in value, for example, the payments to the TOL Foundation go up as well.