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No matter what your religious beliefs are, I guarantee you can achieve everlasting life — at least everlasting financial life.
Make a legacy gift to OWAA, or most any other nonprofit, that does work you believe in and you will help them continue good work long after your obituary is printed.
The Development Committee, of which I am chairman, is focusing on creating a system to encourage members to make legacy gifts to the endowment. Our goal is to expand endowment assets to the point where annual distributions take some of the pressure off the annual operations fund.
A legacy gift is made to an endowment, such as OWAA’s restricted endowment fund. It could be direct contributions made while you remain among the living, or a bequest or life insurance distribution following death. If large enough it could bear your name or the name of someone you’d like to honor.
Money given to endowments has one purpose — to be carefully invested to generate an annual distribution to the designated organization. The gift itself is not spent. Annual OWAA endowment distributions are determined each year by the Endowment Trustees. Typically they are 5 percent of assets. Trustees analyze investment return and set the distribution at a level that allows the fund to grow to neutralize inflation and finance fees. In other words, assets grow a bit faster than expenses while enabling a distribution as generous as the investment climate allows.
Assuming that you want to continue paying your OWAA dues following your death, you can work the math backwards. Dues are $150 per year. Make a legacy gift of $3,000 and a 5 percent distribution will send dues equivalent to OWAA forever.
In the last issue of Outdoors Unlimited member Jim Smith wrote about how easy it was for him to set up a legacy gift to OWAA. With the help of an attorney or tax advisor you can follow his lead and help OWAA serve outdoor communicators forever. ♦
— Rich Patterson, Chairman of the Development Committee, richapatterson@gmail.com
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The gift that keeps giving
