Honoring a Legacy
The History Center of Olmsted County exists because of the support and appreciation of our community. Whether it is in the form of volunteering, donations, memberships, or some other contribution, the individuals and organizations that contibute to our mission help to preserve history for future generations.
With our community in mind, the History Center wishes to honor Alan Calavano, a long-time supporter of the History Center who passed in 2016. Alan was a significant contributor in virtually every way to the History Center and its mission. He volunteered his time, his donations, and his resources to growing and supporting our mission to preserve and present the history of this county.
We are pleased to remember and honor Alan through the development of the Alan Calavano Legacy Society which recognizes planned giving donations from our passionate members and generous community.
Whether you would like to designate funds for a specific use or make an unrestricted contribution to the History Center, your planned gift will make an immeasureable impact on our organization.
For those interested in a legacy gift to the History Center, we invite you to fill out this convenient letter of intent.
Contact us today by stopping by the History Center or calling our front desk at 507-282-9447 to discuss your planned giving options.
Planned Giving FAQ:
What Is "Planned Giving?"
Planned giving, also referred to as legacy giving, is designation of a major gift to a charitable organization in life or as part of an overall estate plan. This gift could be in the form of cash, real estate, life insurance, equity, or personal property and could be designated for any number of purposes, whether as a general fund for the upkeep and overhead of a charitable organization or for specific programs and purposes.
What Are the Benefits of Planned Giving?
Perhaps the most obvious and immediate benefit of planned giving is the support it provides to the charitable organization who receives the gift.
Other benefits of planned giving:
- Planned giving represents the oportunity to leave a major gift to a charitable organization that may not have otherwise been possible.
- Charitable gifts are often exempt from estate tax, meaning that more of the gift would go to the organization and have a greater impact.
- Transfering assets as part of a planned gift avoid capital gains taxes.
How Does Planned Giving Work?
When a donor wants to make a significant contribution to a charitable organization, they include planned giving as part of their estate planning process. Because of the legal and tax implications involved in planned giving, most major gifts are organized with the help of an estate planning lawyer. This individual will help guide you through the process of maximizing your impact, likely through establishing a trust.
Why Is Planned Giving Important?
Planned gifts can have a major impact on the charitable organizations receiving the gifts. Receiving a large gift can result in years of financial support, allowing the organization to expand their reach and develop new programs. Planned giving gifts are often a much more significant amount than membership dues or other donations a charity may receive and make an immediate, long-lasting impact on the organization receiving these gifts.