Legacy Giving
Legacy Giving
Sustaining the Alexandria Zoo is a commitment that stretches beyond a single lifetime.
Legacy Giving is a powerful way to ensure that the roar of the jaguar, the playfulness of the otter, and the wonder of discovery remain a part of Alexandria for generations to come. By making a planned gift to the Friends of the Alexandria Zoo (FOTAZ), you are not just making a donation; you are building a permanent foundation for wildlife conservation and education.
FOTAZ Federal Tax ID: 58-1647938
Bequests
A bequest is a gift made through your will or living trust. It costs you nothing during your lifetime, yet it allows you to make a significant impact on the future of the Zoo.
Why Choose a Bequest?
Flexibility: You can change your mind at any time should your circumstances change.
Control: You retain full control of your assets throughout your life.
Tax Relief: A charitable bequest can significantly reduce the burden of estate taxes for your heirs.
Types of Bequests
Specific Bequest: You designate a specific dollar amount or a specific piece of property (e.g., real estate, stocks, art) to the Zoo. Example: "I give the sum of $25,000 to Friends of the Alexandria Zoo.
Residuary Bequest: You give a portion (or all) of the "residue" of your estate—what remains after all other debts, taxes, and specific bequests have been paid. This is a popular choice because it adjusts automatically as the value of your estate changes. Example: "I give 10% of the rest, residue, and remainder of my estate to Friends of the Alexandria Zoo."
Contingent Bequest: You designate the Zoo as a beneficiary only if other beneficiaries (such as a spouse) do not survive you.
Sample Bequest Language
Please share this with your attorney: "I give, devise, and bequeath to Friends of the Alexandria Zoo, a non-profit 501(c)(3) organization located at 3016 Masonic Drive, Alexandria, Louisiana, 71301 [the sum of $ / % of the rest, residue, and remainder of my estate] to be used for [its general purposes / specific program]." Tax ID: 58-1647938
Life Insurance
Many supporters have life insurance policies that were purchased years ago to provide security for children or family members who are now grown and financially independent. These policies can be repurposed to create a substantial legacy for the Alexandria Zoo.
Name FOTAZ as a Beneficiary
You can simply update your beneficiary designation form to name "Friends of the Alexandria Zoo" as a primary or contingent beneficiary of an existing policy.
Benefit: This is flexible and revocable. It keeps the asset within your control during your life but passes the payout to the Zoo tax-free upon your passing.
Transfer Ownership of a Policy
You can transfer the actual ownership of a paid-up policy to FOTAZ.
Benefit: You may receive an immediate income tax deduction for the cash surrender value of the policy. If the policy is not fully paid up, subsequent premium payments you make may also be tax-deductible as charitable contributions.
Charitable Trusts
Charitable Remainder Trusts (CRT)
The gift that pays you back. A CRT is an irrevocable trust that provides you (or your designated beneficiaries) with income for a specific term of years or for life. At the end of that term, the remaining balance in the trust passes to the Alexandria Zoo.
Key Benefit: If you fund the trust with highly appreciated assets (like stocks or real estate), you can avoid immediate capital gains tax on the sale of those assets, while generating a steady income stream for yourself.
Charitable Lead Trusts (CLT)
Support the Zoo now, support your family later. A CLT is essentially the reverse of a Remainder Trust. You transfer assets into a trust that pays income to the Alexandria Zoo for a set number of years. At the end of the term, the remaining assets return to you or pass to your heirs (often with significant gift/estate tax savings).
Key Benefit: This is an excellent strategy for passing assets to heirs at a reduced tax cost while seeing the impact of your philanthropy during your lifetime.
More Ways to Give
Retirement Accounts and IRAs
Consider adding FOTAZ as the first, second or final beneficiary of your IRA, 401(k) or other retirement account.
Certificates of Deposits or Bank Accounts
Certificates of Deposits, Savings accounts or other savings plans can pass immediately to FOTAZ as a Payable on Death (POD) beneficiary of the account. Contact your financial institution to set this up today.
