When you care deeply about coral reefs and want your impact to endure beyond your lifetime, planned giving provides a powerful and flexible way to leave a legacy. At the Coral Reef Alliance (CORAL), planned gifts help secure long-term resources for reef protection, resilience, and adaptation. This article walks through what planned giving means, how it works, and how you can make a meaningful, tax-wise gift to support coral conservation.
What Is Planned Giving?
Planned giving (also called legacy giving or estate giving) refers to any charitable gift arranged today that is carried out in the future, often after your lifetime. Unlike annual or one-time donations, planned gifts are structured through wills, trusts, beneficiary designations, or life income plans, and they often allow you to:
- Maintain control or use of your assets during your lifetime
- Potentially realize tax advantages
- Make a larger impact than you thought possible
- Provide for loved ones and philanthropic causes in a balanced way
CORAL offers a variety of planned giving tools and strategies to match donors’ financial and estate planning needs.
Why Give Through a Plan?
Here are key benefits for including CORAL (or any nonprofit) in your long-term giving.
Enduring impact
Legacy gifts help coral protection efforts continue for decades. Planned giving is a way to fuel our mission into the future.
Flexibility and control
You can retain control over your assets now, and you can often change or revoke your gift if circumstances change.
Tax benefits
Many legacy gifts offer tax advantages, either by reducing estate taxes or by allowing current deductions depending on the mechanism.
Simplicity in giving non-cash assets
Gifts of appreciated stocks, retirement accounts, or donor-advised funds (DAFs) can allow greater philanthropic impact with favorable tax treatment.
Recognition and stewardship
While you may choose to remain anonymous, notifying CORAL of your plans helps the organization express gratitude and ensure your intentions are honored.
Steps to Make a Planned Gift to CORAL
- Consult your advisors or use vetted legal tools or forms
Speak with your attorney, CPA, or financial planner to understand how a legacy gift fits your overall estate plan. More conveniently, CORAL has partnered with FreeWill to provide a free tool for creating or updating wills and trusts. You can ensure legal documents clearly identify CORAL’s correct name, address, and tax ID (EIN) to avoid ambiguity. - Decide on the gift mechanism
Choose the method (bequest, beneficiary designation, DAF, etc.) that aligns best with your financial goals and philanthropic intentions. - Notify CORAL of your intent (optional but helpful)
Letting CORAL know your planned gift helps with recognition, ensuring your wishes are understood, and allows them to thank you appropriately. - Review and update periodically
As circumstances change, you should revisit your legacy plan to confirm it still aligns with your wishes and estate structure. - Provide sample language to your attorney
CORAL and many nonprofits provide sample bequest wording and legal language for inclusion in your will or trust.
Sample Bequest Wording (for Your Attorney)
Here is a sample clause you might share with your attorney (this is illustrative; always check with your legal counsel):
“I give, devise, and bequeath (insert dollar amount or percentage of the residue of my estate) to the Coral Reef Alliance, a 501(c)(3) nonprofit organization (EIN: 94-3211245), located at 548 Market St, Suite 29802, San Francisco, CA 94104, for its general purposes.”
You may also specify contingencies, restrictions, or designate the gift as unrestricted to allow flexibility for CORAL’s evolving needs.
Frequently Asked Questions
Q. Do I have to notify CORAL of my planned gift?
A. You are not required to do so, but notifying us is beneficial. It helps us respect your intentions, offer recognition (if you wish), and plan our finances accordingly.
Q. Can I change my gift later if my circumstances change?
A. Yes. Most planned gifts are revocable while you’re alive, and beneficiary designations or documents can be amended.
Q. What if my estate seems “too small” for a planned gift?
A. Gifts of any size are valuable. Many people leave a percentage of their estate, which scales with estate value.
Q. Are there costs to creating a will or trust?
A. Yes, if you use an attorney, there will be fees. However, the FreeWill tool offered in partnership with CORAL lets you create or update a will or revocable living trust online, free of charge.
Q. Can I remain anonymous?
A. Yes, you can keep your gift private. However, for CORAL to properly receive and administer the gift, they may need to know some details.
Investing in Tomorrow’s Reefs
Planned giving is more than just a financial tool. It’s a deeply personal expression of your commitment to marine conservation and the future of our planet. By weaving coral stewardship into your estate planning, you help ensure that the coral reefs you’ve championed in life will continue to flourish in the years and centuries to come.
