Do you have an Endowment (Waqf) set up for your organization? Having an Endowment and having a planned giving program in place is incredibly important as far as setting the tone for the future of your organization. It also enables you to start cultivating relationships with those prospective donors who are invested in what you do and the value you bring. Not having such a program or an endowment fund can make the process of receiving donations that are otherwise critical to your work nearly impossible in some circumstances.
At Cornerstone Law Offices, we have been able to help many of our members in terms of setting up endowment funds and initiating their planned giving programs. Cornerstone has worked with many regional charities and local families; they have established vital relationships between donors and nonprofits that emphasize the value of charitable giving in terms of the enormous benefits to the community.
Not to mention, many people don’t understand how essential estate planning is in general or even how it works. Nearly 70% of Americans don’t have a will in place and that number is even higher in our community. Educating donors about estate planning and about the ability to continuously give to their preferred charitable organizations after they’re gone is a very necessary service. Cornerstone can work with your donors, offering a one hour FREE educational estate planning meeting during which they will discuss their concerns and goals for their families, appropriate tax planning strategies, guardianship and disability options, as well as how to go about leaving a bequest to their favorite charity.
Given Cornerstone experience and in-depth understanding of the planned giving process, their team can walk you through the steps associated with establishing an endowment fund. They can help you pinpoint where and how to proceed in implementing your planned giving program, and in conjunction with their estate planning services, Cornerstone team can assist you in reaching out to those potential donors who want to make a difference over the long term by donating through their wills and various other estate planning options.
We recently received a rather large bequest, and the only reason this was possible was because of the endowment fund that we established. We cannot stress enough how critical it is to have such a fund set up. Cornerstone Law Services made the process easier than we anticipated. They walked us through the setup start to finish and were readily available to answer any and all questions. We highly recommend Cornerstone, particularly when it comes to something as important as establishing your organization’s endowment fund.
Islamic Shura Council of Southern California
When it comes to setting up an endowment for your non profit,it can seem an intimidating process. We weren’t certain of what direction to go or even of where to start for that matter. This is where working with Cornerstone Law Services really made all the difference. They showed us step by step how the many moving parts came together. Ultimately, because of their guidance and the proactive way they approached our fund, we were able to secure a bequest. For this we sincerely thank Cornerstone and will most definitely continue to work with them in the future.
Islamic Institute of Orange County