Charitable Bequests: Simple & Flexible, But Too Often Outdated & Undisclosed
For many years, Pennsylvania Masons and their loved ones have generously supported our Masonic Charities through lifetime gifts, deferred gifts and bequests.
In 2021, Giving USA reported that 9% of all charitable gifts were made through bequests. The total giving through bequests increased by 400% between 1980 to 2020, which demonstrates the upward trending and popularity in this approach to planned giving.
Because of their simplicity and flexibility, bequests and similar strategies are a popular form of charitable giving and are often incorporated into an estate plan. Perhaps due to the simplicity, the language is sometimes carried over from prior wills and trust documents without sufficient attention. Worse yet, some donors do not regularly review or update their estate planning documents.
Fortunately, our Office of Mission Advancement and Development is here to help. We regularly provide our donors and their advisors with accurate names for our Masonic Charities, descriptions of our charitable programs and sample language to help ensure that your bequest does what you want it to do.
In addition to being outdated, did you know that most bequests are undisclosed to the charities? It is estimated that 90% of bequests are not disclosed to charities until the donor has passed away. This makes it difficult for charities to consider future interests in planning and to properly recognize the generosity of their donors. At Masonic Charities, membership in the Franklin Legacy Society is available to any donor who discloses their generous giving through a bequest. In addition, when we know you’ve thought of the Masonic Charities in your planning process, we can better serve you through our department’s collaborative solutions and professional resources.
Of course, our donors should consult with independent professionals concerning their estate planning. We are happy to assist with referrals upon request.
For additional information or to join the Franklin Legacy Society, please email us at giving@masoniccharitiespa.org or call us 1-800-599-6454.