LEGACY GIFTS 

Intentional planning of gifts and estates maximizes the benefit to you, your family, and Third Option Foundation and enables you to make a lasting impact while tailoring a gift to your unique needs and interests. After-lifetime gifts, such as bequests, and gifts of retirement assets will benefit Third Option Foundation without using your current assets or income. The Foundation will collaborate with you, your attorney, or other advisers to design the best gift plan for your individual situation.

Making a planned gift to benefit Third Option Foundation qualifies you for inclusion in the Foundation’s Legacy Society. This optional membership allows us to express continued thanks for your future gift. 

DIRECT YOUR GIFT 

A gift to Third Option Foundation should reflect your interests, aspirations, and legacy. The Foundation will work with you to create a gift agreement that designates the specific mission areas you want to benefit. 

WILLS, LIVING TRUSTS, AND LIFE INSURANCE POLICIES 

A bequest offers you considerable flexibility in making a gift that will last far beyond your lifetime. You can incorporate bequest language into your estate plan (a will or living trust). You also can name Third Option Foundation on your life insurance policy’s beneficiary designation form. Advantages include:

• The most common type of legacy gift, a bequest allows you to retain access to your assets during your lifetime while designating future support for Third Option Foundation.

• Simple to make and easy to implement, a bequest can comprise a specific item, a dollar amount, or a percentage of your estate.

• Your estate will receive a charitable estate tax deduction reducing the tax burden on your family.

The following language may aid you and your attorney in preparing your bequest to Third Option Foundation:

I give, devise and bequeath (specific asset; dollar amount; % of estate; etc.) to the Third Option Foundation, a nonprofit corporation organized in accordance with the laws of the State of Virginia for the purpose of supporting the operators and families of the CIA Special Activities Center. The property comprising this gift may be merged, for investment purposes, with any of the general investment assets of Third Option Foundation. The distributions from this gift shall be: a) unrestricted, unless directed by a separate gift agreement; or b) used to ... (after consulting with the Foundation, include specific gift-use preferences here, and include the following sentence to ensure your gift remains useful in the future.) The gift shall be entered in the Foundation’s books and records as the (desired name of fund) Fund and shall always be so designated. If, in the judgment of the Foundation Board of Directors, changed circumstances should, at some future time, render the designated use of this fund impracticable, unwise or inappropriate, then the Board shall use the fund to further the objectives and purposes of Third Option Foundation, giving consideration to my special interest as evidenced by the purpose described above.

RETIREMENT ACCOUNT 

While most retirement assets carry a heavy tax burden when passed to beneficiaries, these funds are not taxed when passed to a charitable organization, making them an appealing legacy gift option. Advantages include:

• This giving vehicle allows you to support Third Option Foundation and avoid heavy taxation on Individual Retirement Accounts (IRAs) or other retirement accounts.

• Your retirement assets can benefit Third Option Foundation in full, and your family can receive other assets that bear less of a tax burden.

• If your circumstances change, so can your gift.

The following language may aid you in completing your IRA beneficiary form:

Third Option Foundation is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code (EIN 46-4884866).

PLEASE LET US KNOW 

If you name Third Option Foundation as a devisee, legatee, or beneficiary, please let us know of your plans. Doing so will enable us not only to show our appreciation for your generosity, but also to include your support in planning for the future of Third Option Foundation.

If you direct a gift to Third Option Foundation via beneficiary designation and you wish to direct a particular use for the funds, we will be happy to draft a separate gift agreement that includes your specific instructions.

For more information, please contact Third Option Foundation at admin@thirdoptionfoundation.org. Thank you for your interest and support.