Leave a legacy for CLASP

Leave a Legacy for CLASP

Ensure future policy solutions that work for low-income people


OVERVIEW

Read our brochure for a quick overview of planned giving at CLASP. If you want to talk more about any of your giving options, contact us at development@clasp.org.

ADVANCING ECONOMIC SECURITY & RACIAL EQUITY

In 1969, a visionary group of advocates founded CLASP to counter deep-pocketed special interests that wielded enormous power in Washington, D.C.

CLASP initially focused on environmental issues, consumer protection, access to and responsiveness of the media, women’s rights and, health and mental health problems.

CLASP has evolved to focus on policies to fight poverty and to address issues adversely impacting people of color and immigrants.

The future is uncertain. But history teaches us that without strong advocates like CLASP, policymakers in Washington D.C. and in state capitols will fail to understand and address the needs of people with low-incomes, immigrant families and children, and people of color.  

We invite you to make a long-term investment in CLASP’s mission—to reduce poverty, promote economic opportunity, and confront the barriers faced by people of color—by including CLASP in your estate and financial plans.

CLASP'S LEGACY SOCIETY

We recognize that including CLASP in your plans is a significant decision. That’s why we’ve established the CLASP Legacy Society to honor individuals who have informed us of their estate gift intentions.

As a Society member, you’ll have the satisfaction of knowing that your estate gift will help CLASP to empower new generations of passionate and effective advocates to push forward and fight back.

YOUR LEGACY OPTIONS

Choose to leave a legacy in a way that works for you.

Bequests

Here are some options to create a bequest for CLASP in your Wills or Living Trusts, along with some sample language.

Make a donation of a specific amount or asset.
“I give to Center for Law and Social Policy, a District of Columbia not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 1200 18th Street, Suite 200, NW, Washington, D.C. 20036, the sum of $___ to be used for its general purposes.”

Leave a percentage of your estate.
“I give to Center for Law and Social Policy, a District of Columbia not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 1200 18th Street, Suite 200, NW, Washington, D.C. 20036, ___ percent of the total value of my estate to be used for its general purposes.”

Take care of others first, and leave the remainder (or, residual) of your estate to CLASP.
“I give to Center for Law and Social Policy, a District of Columbia not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 1200 18th Street, Suite 200, NW, Washington, D.C. 20036, [all or ___ percent)] of my residuary estate to be used for its general purposes.”

Leave a contingent gift that only takes effect if one of your beneficiaries predeceases you.
“In the event of the death of any of the beneficiaries, I give to Center for Law and Social Policy, a District of Columbia not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 1200 18th Street, Suite 200, NW, Washington, D.C. 20036, (specific, percentage, or residual language as above)."

Beneficiary Designations

You can also name CLASP as a beneficiary of your life insurance policy, retirement account—such as an IRA, 403(b), or 401(k)—brokerage account, savings account, or checking account.  You can designate all, or a percentage, of these assets to CLASP. After your lifetime, assets will be transferred to CLASP automatically.

When you're ready, use the following information to complete your benefit designation form:

Center for Law and Social Policy, Inc.
1200 18th St. NW, Suite 200
Washington, D.C. 20036
Tax ID #23-7000150

Charitable IRA Rollovers

If you're at least 70.5 years old, you can roll over up to $100,000 from an individual retirement account (IRA) to a qualifying charity without counting these assets as taxable income. At the same time, you'll have the benefit of counting these gifts toward your minimum distribution requirement.

Here are some things to keep in mind:

  • You have to transfer assets directly from your traditional or Rotha IRA to CLASP.
  • 401(k), 403(b), and Simplified Employee Pensions are not eligble.
  • You can't give more than $100,000 per year.
  • Because these distributions don't count as income, and you won't pay federal taxes on them, you can't a receive a charitable tax deduction for your gift.

Charitable Remainder Trusts

When you create a charitable remainder trust, you can get income for yourself (or loved ones) for a period of up to 20 years, drawing from a pool of assets that you give to the trust.

This provides crucial support to CLASP while offering benefits for you and your family. You may become eligible for a partial charitable income tax reduction and/or avoid up-front capital gains tax. A charitable remainder trust could also potentially increase your income.

There are two types of charitable remainder trusts:

  • An annuity trust pays you a predetermined amount of money each year. The performance of your trust investments doesn't affect what you receive.
  • unitrust pays you a variable amount of money each year based on a fixed percentage of the value of your trust assets. Every year, the amount of money you receive is recalculated. If your trust increases in value, your payments will go up.  If it decreases in value, your payments will go down.

This information is not intended as tax or legal advice. We recommend that you consult with your legal and financial advisors to learn how a gift would work in your circumstances.