Legacy Society

Paul and Ann are members of the greatest generation and proud graduates of Putnam City High School 1945. They are founding members of the Leo and Mary Ruth Mayfield Legacy Society along with being the "guiding lights" for the Lunch Bunch--Putnam City alumni from the 20's, 30's, and 40's who meet for lunch monthly. Paul and Ann publish a newsletter for the group and actively solicit donations from their Lunch Bunch friends with the goal of adding the group to the membership of our Legacy Society. If you have the opportunity to visit with Paul and Ann, you will quickly understand how Tom Brokaw originated the term "Greatest Generation". Your consideration in joining the Long's as members of the Legacy Society will enhance educational opportunities for Putnam City students and teachers.

When you move from a comfort zone and take a major step in the creation of a Legacy Society, there is always a moment of doubt about the success of the effort. Larry and Suzy are not Putnam City Schools graduates but their two sons are. These two beautiful people stepped right up when they learned about the new Leo and Mary Ruth Mayfield Legacy Society and made a generous gift of 6 memberships--two for themselves and 4 for their sons and daughters-in-law. In addition, the Lemons created a fund which provides a $1,000 match for others who wish to join the society. The Lemon's gift is truly making a difference in the Foundation's ability to fulfill its mission of enhancing and enriching educational opportunities in Putnam City Schools. Your consideration in joining the Lemon's as members of the Legacy Society will be appreciated.

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Bequests-The Times They Are A-Changing

Kevin Johnson in his book, "How Nonprofits and Donors Work Together to Change the World," made the following points about how bequests to nonprofits are good ways to see your personal values live on.

Definition—“Bequest” describes a gift in a will or any other part of estate planning that is completed after a person dies. A bequest is considered a “legacy” gift.

The “golden age” of bequests is now upon our society. With members of the “Greatest Generation” dying in unprecedented numbers, the next several decades will experience a transfer of significant wealth in record amounts. Much of the transfer will be in the form of simple bequests.

Statistics-A survey suggests that 9.4% of the population probably already includes a nonprofit in their estate plans; another 14% are considering it without being asked; and another 30% would include a gift to a charity if asked.

49 is the average age at which a charitable bequest is first included in a will or estate plan.

The average bequest (circa $30,000-$40,000) comes from the estate of a retired woman who either has no living children, or feels they have enough money of their own.

83% of people ages 45-75 have made a bequest.

More than 90% of gifts in the category of deferred or planned gifts are simple bequests.

Bequests from individuals account for $22.6 billion in a recent year or over 80% of all gift charitable gifts.

Bequests occur when the life-values of a person are in accord with the mission of the organization. When the above is realized, these questions can be asked—what are your dreams; what do you wish to accomplish; and what difference do you wish to make with your gift? Other questions could be, is this the right group; how will my gift be used; and when will my gift be used?

Donors are now placing value on the impact and legacy of their gifts. Charitable intent is now the driver throughout the entire planning process, not charitable giving tools. Charities now need to concern themselves with the opportunities they provide for their major donors to experience the problems being dealt with and showing the solutions the donors have financed first hand.

A successful conversation about a bequest will focus on personal values and those of the organization. It will not be focused on the tools of giving. A legacy gift is a perfect way to describe your confidence in the future.

When a person establishes a bequest, he/she wants to create something, not just to react to something.