Staff Blogger: Gretchen Colon, Vice President of Advancement & Communications
In 1873, the Founders of Lakeside began planning for the future of this beloved Chautauqua community. Their dedication, work and financial commitments created an enduring legacy that is enjoyed today.
These forward-thinking individuals inspired others to plan for future generations to enjoy the Lakeside Chautauqua experience.
In the 1980s, the Founders Society was established to recognize friends and families who have made a deferred gift to benefit Lakeside Chautauqua and help grow the Lakeside Endowment.
The foresight and planning of those who arrange a deferred gift today is just as important to the future of Lakeside Chautauqua as the vision of those leaders who gathered in 1873.
Today, more than 70 families have planned a special endowment gift. These families have opted to pledge an endowment gift, purchase an annuity or name Lakeside as a beneficiary in their estate, IRA or life insurance policy.
We graciously thank them for their planning and investment in Lakeside’s future.
The Lakeside Endowment currently totals $3.5 million. The growth of the endowment is due to new gifts from deferred and outright cash gifts received since its inception.
It is important to protect Lakeside Chautauqua and to grow the Lakeside Endowment for future generations.
Below are some options and ways you can plan a gift:
Charitable Remainder Trusts: A gift arrangement that provides income to one or more designated beneficiaries for a lifetime or fixed number of years.
A donor receives an immediate charitable deduction, as determined by the IRS, for establishing the trust. Upon the death of the last income beneficiary or the end of the trust term, the assets in the trust benefit Lakeside as specified in the trust document
Annuity: An irrevocable contract between the donor and organization. In exchange for gift of cash or marketable securities, the organization promises to pay a fixed amount each year to one or more beneficiaries for the rest of their lives.
Upon the death of the last income beneficiary, the balance of the gift annuity benefits Lakeside as specified in the contract.
Bequests: Provisions in wills or living trusts that direct a portion of a donor’s estate to a named person or charity, such as Lakeside. A donor may bequeath a specific asset, dollar amount or percentage of his or her estate.
Life Insurance: A donor may give a new or existing policy and name Lakeside as the primary beneficiary.
We invite you to join the Founders Society and these 70 families and plan a deferred gift for Lakeside’s future.
For more information on how to include Lakeside in your will or estate plans, contact the Lakeside Chautauqua Fountain at (419) 798-5396 or advancement@ lakesideohio.com.
