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What is a Planned Gift?

Planned gifts may include a variety of strategies that an individual may utilize to bequeath money and/or assets to the Stephen Bufton Memorial Educational Fund (SBMEF). Most often, planned gifts are made through a will or trust; gifts that provide lifetime income to the donor like a charitable gift annuity; or gifts that protect your assets, like a retained life estate of a house or as an end-of-year cash gift. However, charitable donations can take many forms - the loose change that you drop into a bucket during the holiday season, a gift in honor or memory of someone, or a planned donation with important tax and financial implications.

Members of the American Business Women’s Association (ABWA) have been participating in planned giving throughout the history of the fund. In recent years, several national scholarships were created in memory of beloved ABWA members Freda Zimmerman and Nina Bell Redditt, who championed lifelong education for women. Their generous contribution to SBMEF has provided scholarships to licensed, accredited, and state approved learning institutions for more than one hundred women.

Why Planned Giving?

A planned gift allows your personal values to make a lasting impact on the world; creating a ripple effect that inspires other women to join in your commitment to continue changing women’s lives one woman at a time.

Your gift ensures that SBMEF will have the financial resources to provide scholarships and professional development for women today and tomorrow because planned gifts are typically arranged now and paid out later. If you are interested in providing a planned gift to SBMEF, the first step is to select the right planned giving vehicle for you since a planned gift can reduce your estate and income taxes, maximize the financial and tax benefits of your gift, and potentially allow you to make a larger gift than you ever thought possible.

We recommend that you seek professional guidance from a qualified estate planning attorney or financial planner to learn which options are best for you. Ensure your legacy, and the legacy of ABWA's educational fund, by contributing a planned gift to SBMEF.

Types of Bequests You May Consider

  • Specific: a certain amount of cash, securities, or property.
  • General: property that is similar to all other items distributed (usually cash).
  • Percentage: a stated percentage of the donor’s estate.
  • Residual: all or a portion of what remains of the estate after specific and general bequests are distributed.
  • Contingency Gift: a gift under the terms of a will, trust or insurance policy received only if a certain event occurs or if a certain set of circumstances happen.
  • Beneficiary designation: through life insurance, IRAs, 401(k)s, annuities, and other qualified plans.

You can direct your bequests to be used for a specific purpose such as National Scholarships, Outright Grants, Business Skills Tuition Reimbursement, or for a general purpose. Please check with ABWA National to make sure your gift can be used as requested.