Because your bequest is revocable, you do not receive an income tax charitable deduction when you create it. Rather, your estate will receive an estate tax deduction for the full value of your bequest in the year it is made. Depending on a variety of factors, including the size of your estate and estate tax law at the time your estate is settled, this deduction may or may not save estate taxes.
Gifts by Will or Trust
What are gifts by will or trust?
Remembering Robin Hood in your will is a wonderful way for you to make a lasting impact for those in need. Large or small, your bequest will help ensure New Yorkers have more opportunities for generations to come.
How It Works
A charitable gift from your estate is a commonly used method of giving that enables you to make a difference while still achieving your financial goals. This is the simplest planned gift to make and is easy to change should you ever need the assets during your lifetime. If you are considering a bequest or planned gift, or advising a client who is, please use the resources:
Legal Name and Tax I.D. Number: All charitable gifts should be directed to “Robin Hood Foundation, 826 Broadway, 9th Floor, New York, NY 10003, a New York 501(c)(3) tax-exempt, charitable organization, or its successor, Federal Tax Identification Number: 13-3441066.”
Bequest Language: Click here for language to help you and your attorney draft a bequest that satisfies your interests.
Why It's Right for You
A gift by will or trust may be right for you if:
- You want to make a gift to Robin Hood.
- You want the flexibility to change your mind.
- You want continued access to your wealth, should you need it.
- You are concerned about outliving your resources.
Frequently Asked Questions
Can I specify how Robin Hood may use my bequest?
Yes, you have several options for telling Robin Hood how we may use your bequest once we receive it:
An Unrestricted Bequest: This is a gift for our general work. This can be the most useful kind of gift because it allows us to put your gift to the best possible use at the time we receive it, and we can direct it toward one or more of our programmatic areas.
A Restricted Bequest: This is a gift for a specific use, such as a special project or program that is important to you. We’d advise you to consult with us before placing restrictions on your bequest to be sure we can carry out your wishes.
An Honorary Bequest: This is a gift made in honor of someone else. An unrestricted or a restricted bequest can also be an honorary bequest. We would be pleased to recognize the people you wish to honor with your gift.
How can I guarantee the terms of my bequest are carried out?
It is very important that your bequest is accurately and clearly described in your estate plan so that we can carry out your wishes as you intend. We are happy to consult with you regarding the terms of your bequest to ensure that we can carry out your intentions. To avoid confusion with similarly named organizations, please include our full legal name and our federal tax identification number in your bequest:
Legal name: Robin Hood Foundation
Current address: 826 Broadway, 9th Floor, New York, NY 10003
Tax identification number: 13-3441066
Click here for sample bequest language to assist you and your attorney. You have complete flexibility to revise your bequest at any time if the circumstances arise.
What are the tax benefits of naming Robin Hood in my bequest?
Other than by will or trust, are there other ways to make a bequest to Robin Hood?
In addition to adding bequest language to your will, here are other simple ways you can make a bequest to us:
- Make Robin Hood a designated beneficiary of a life insurance policy.
- Make Robin Hood a designated beneficiary of an IRA or other retirement plan.
- Make Robin Hood a designated beneficiary of savings bonds.
- Instruct your bank to “pay on death” to Robin Hood some or all of a specific bank account.
- Instruct your brokerage firm to “transfer on death” to Robin Hood some or all of a specific brokerage or other financial account.
FIND THE BEST GIFT FOR YOU
Not sure where to start? Learn more and compare giving options here.
explore optionsContact us
Please let us know if you have included Robin Hood in your estate plans. We would welcome the opportunity to thank you for your thoughtful gift and to confirm that we can carry out your wishes.
Austin Wrubel
Director of Planned Giving
212-844-3521
wrubel@robinhood.org
If you have already put Robin Hood in your estate plans, please let us know.