Planned Giving Options

If you would like to make a planned gift to portage Path, there are several options:

Bequests by Will or Trust

You can designate a particular amount, or a percentage of your estate to Portage Path through your will or testamentary trust. If you would like to leave all or a portion of your estate after all bills are paid and all other distributions are made, you can use the Residual Gift language below. If you would like to make a legacy bequest of a certain dollar amount, the Specific Gift language below can be used in your will or testamentary trust.

 

Residual gift language for Will or Trust:

I give and devise to Portage Path Behavioral Health (an Ohio nonprofit corporation and 501 (c)(3) nonprofit corporation; Tax ID #34-1096055), located in Akron, Ohio, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program of your choosing).

Specific gift Language for Will or Trust:

I give and devise to Portage Path Behavioral Health (an Ohio nonprofit corporation and 501 (c)(3) nonprofit corporation; Tax ID #34-1096055), located in Akron, Ohio the amount of $___________ (______dollars) (or name and describe a specific asset) to be used for its general support (or for the support of a specific fund or program of your choosing).

 

Beneficiary Designations on life insurance policies, bank accounts, or other assets

Making a beneficiary designation on an insurance policy or other asset is a straightforward way to leave a legacy with Portage Path while ensuring that you can change your mind during your lifetime. Such gifts can have a lasting impact without sacrificing your own standard of living. Most assets can be held in a manner that allows for the designation of a beneficiary.

Examples include life insurance policies, bank accounts, some retirement accounts, real estate and vehicles. Designating a beneficiary is a simple process for accounts or insurance policies. For titled assets like vehicles or real estate, the help of an attorney may be needed to draw up a new dead or title. Even in those cases, the process is fairly straightforward.

For financial assets, follow these simple steps:

  1. Contact the administrator of your retirement plan, insurance policy or bank account for a change-of-beneficiary form or simply download a form from your provider’s website.
  2. Decide what percentage of the account you wish to give to Portage Path Behavioral Health and name us, along with the percentage, on the form.
  3. Sign and return the form to your plan administrator or insurance company.
  4. Notify Portage Path of the designation if you wish to be acknowledged in publications as part of our Legacy Society.

Any person who notifies Portage Path that they have included us in their Will or Trust, or designated us beneficiary of an asset, will be listed as a member of the Portage Path Legacy Society in recognition of that future contribution. There is no minimum amount required, and there is no requirement to tell Portage Path the amount of the intended gift.

Gifts of appreciated stocks or bonds

Planned gifts can include donation during the donor’s lifetime of appreciated assets such as stocks or bonds in many cases. Such gifts present the opportunity to not only impact our community for years to come, but also provide the prospect of income tax savings in many cases.

Making a gift of stocks or bonds is easy. If you hold the physical document, simply fill out the transfer section of the document with Portage Path’s name and address, follow the notification instructions of the company for their record keeping, and mail the certificates to Portage Path. In the case of securities held by a brokerage, simply contact our Development Office using the contact information below to start the process.

For more information about Planned Giving, please contact our development office at 330.253.3100 x 1115, or email Director of Development Eddie Dengg at edengg@PortagePath.org.