WHEN YOU MAKE A PLANNED GIFT TO GOODWILL, YOU’LL BE CREATING JOBS FOR YEARS TO COME.
Planned gifts include bequests in a will or other contributions made through your estate. By making an estate plan that includes Goodwill Industries of Middle Tennessee, you can help people to achieve independence through the power of work. We are honored to receive such gifts and will always direct the money straight to our mission: changing lives.
Please contact Beth Alexander or Niketa Hailey-Hill for any questions. Call or email us today at 615-346-1230!
How To Make a Planned Gift
Goodwill Industries of Middle Tennessee is a 501(c)3 nonprofit organization (EIN/tax ID number: 62-0599413). Your gifts are fully tax-deductible to the extent allowable by law.
You can make a planned gift by:
- Naming Goodwill Industries of Middle Tennessee in your will.
- Giving Goodwill Industries of Middle Tennessee an insurance gift.
- Declaring Goodwill Industries of Middle Tennessee as a beneficiary of your 401(k), 403(b) or IRA plan.
- Creating a Charitable Remainder Trust.
You can also make a gift directly to Goodwill Industries of Middle Tennessee:
- Call 615-346-1269.
- Mail a check to Goodwill Industries of Middle Tennessee, 937 Herman St., Nashville, TN 37208
How To Include Goodwill in Your Will
To make an estate gift to Goodwill Industries of Middle Tennessee, ask your attorney to draft a statement in your will that expresses your desire in one of the following ways.
Give the entire residue of your estate
Sample language: I give the rest, residue, and remainder of my estate, after the payment of all expenses, taxes, and debts, to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
Give a fraction of your estate
Sample language: I give _____ % (percentage spelled out) of the rest, residue, and remainder of my estate, after payment of all specified bequests, expenses, taxes, and debts, to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
Give a specific amount
Sample language: I give $ _____ (number spelled out) to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
Give a contingent amount
Sample language: If none of the persons I have identified above as beneficiaries of my estate survive me, I give the rest, residue, and remainder to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
How To Give Goodwill an Insurance Gift
You can also name Goodwill Industries of Middle Tennessee as the beneficiary of the total or a fraction of your life insurance policy.
- Total Amount: Name Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208 as the beneficiary of 100% (one hundred percent) of the proceeds of the policy.
- Fractional Amount: Name Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208 as the beneficiary of _____ % (percentage spelled out) of the proceeds of the policy.
Gift your insurance policy today
If the policy is a paid-up policy and there are no loans, liens, or debts against it, consider giving it to Goodwill Industries of Middle Tennessee. After discussing your wishes with your legal and financial advisers, please email Niketa.Hailey-Hill@givegw.org
Naming Goodwill As a 401(K), 403(B) or IRA Beneficiary
Qualified employee benefit plans accumulate tax-free during a person’s lifetime but are subject to tax at the person’s death.
- 100% of the account balance is included in the taxable estate of the decedent.
- Any taxable beneficiary who receives a distribution from a 401(k), 403(b), or IRA as a result of the death of the owner must pay income tax on the entire amount received.
- Some plans could be taxed as much as 85%.
Goodwill Industries of Middle Tennessee is a qualified nonprofit 501(c)3 organization, so it is exempt from paying taxes on qualified employee benefit plans.
- Designating a qualified organization such as Goodwill Industries of Middle Tennessee as a beneficiary means that your gift will not be subject to estate tax.
- As a result, the money from your plan will go directly to supporting the good work that you care about – Goodwill Industries of Middle Tennessee’s mission.
To name Goodwill Industries of Middle Tennessee as your qualified plan beneficiary:
- Total Amount: Give 100% (one hundred percent) to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
- Fractional Beneficiary: Give _____ % (percentage spelled out) to Goodwill Industries of Middle Tennessee, presently located at 937 Herman St., Nashville, TN 37208.
