Legacy Gifts/Cornerstone Foundation
The Cornerstone Foundation was created as a repository for estate or planned gifts to LSSI. The funds are held to provide financial support to sustain the ministry of LSSI for generations to come.
Legacy gifts include those made through your will, charitable gift annuities, charitable trusts, gifts of life insurance, gifts from bank or investment accounts, and gifts of retirement plans.
The Cornerstone Society is made up of individuals and families who, through thoughtful and generous planning, are committed to ensuring that LSSI will continue to respond to the needs of future generations.
Leaving part of your estate to LSSI may reduce the estate tax burden for your beneficiaries. LSSI Advancement staff are available to work with your legal and tax advisors to ensure that your charitable goals are met.
Giving a Gift of Securities
Many donors choose to make gifts of appreciated stock, bonds, or mutual fund shares to a qualified nonprofit organization like LSSI. It’s a great way to help others while also benefiting yourself.
Your gift may result in substantial tax benefits in the form of charitable deductions. And you'll avoid paying the capital gains taxes had you sold your securities outright.
Your broker can assist you in making a direct transfer of your securities to LSSI's account.
For more information about making gifts of securities via direct transfer or paper certificates, contact Frances Roth at 847.635.4678 or Frances.Roth@LSSI.org.Charitable Gift Annuity
A charitable gift annuity is a contract between you and The Cornerstone Foundation, in which you make a gift of cash or securities (stocks, bonds, mutual funds) in exchange for guaranteed payments for life. After your death* the remainder of the gift will be used by those in need.
You can begin receiving payments right away, or sometime in the future when you will need additional income. While there is a minimum gift size of $10,000, there is no maximum limit.
Your annuity payments are a fixed amount and backed by the assets of The Cornerstone Foundation.
Immediate payment annuities are available to donors aged 60 and older; deferred payments are available to members aged 45 and older. Once established, a gift annuity can't be changed or cancelled.
You receive an immediate income tax charitable deduction, and in most instances a portion of your gift annuity payment will be tax-free. If you transfer appreciated assets for a gift annuity, you defer tax on a portion of the capital gain, with the balance of the gain spread over your expected lifetime. If you defer annuity payments until a future date, you also delay reporting of the capital gain.
For a personalized, no-obligation gift annuity illustration, please contact Kathy Hall at 815.284.7796, ext. 2018 or Kathy.Hall@LSSI.org.
*or the death of a second party annuitant, if applicable.