Planned Giving
“The ICCD: Planning For An Everlasting Legacy
The Prophet Muhammad (peace be upon him) said:
“When a person dies, his/her acts come to an end, but three: sadaqah jariyah (recurring or ongoing charity), useful/beneficial knowledge, or a pious child who prays for the deceased.”
The ICCD Planned Giving program provides community members with an opportunity to give Sadaqa Jariya to plan for an everlasting legacy by including The ICCD in their will.
Planned Gifts to the ICCD are considered major gifts made in lifetime or at death as part of a donor’s overall financial and/or estate planning. These forms of gifts can include equity, life insurance, real estate, personal property, or cash.
The rewards for these gifts continue even beyond the giver’s lifespan on Earth. Up to 30% of your estate can be donated to charity according to Islamic guidelines.
How It Works
- Include a gift to The ICCD in your will or trust. (See sample language below).
- Make your bequest unrestricted or direct it to a specific purpose.
- Indicate a specific amount or a percentage of the balance remaining in your estate or trust.
Benefits
- Control: Your assets remain in your control during your lifetime.
- Change: You can modify your gift to address changing circumstances.
- Direction: You can direct your gift to a particular purpose (check with the ICCD to confirm your gift can be used as intended).
- Tax: Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
Sample Gift Language for Your Will or Trust
Planned Giving to The ICCD in your will or revocable trust asserts your confidence that we will continue to serve our mission of enriching the minds and spirits of future generations. A bequest is easy to arrange will not alter your current lifestyle in any way, and can be easily modified to address your changing needs.
Please see our sample language below:
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid: I give, bequeath and devise all (or __ percent) of the rest, residue and remainder of my estate to The ICCD, a corporation of the State of Illinois, located in DesPlaines, Illinois for the general and educational purposes of said Corporation.
Specific Gift Language
Name The ICCD as a beneficiary of a specific amount from your estate: I give, bequeath, and devise to The ICCD, a corporation of the State of Illinois, located in Des Plaines, Illinois the sum of $_______ , (or _ percent of the rest, residue and remainder of my estate) to be used to support __________ (name of program or academic area.) In the event the need to support _ no longer exists, The ICCD shall be and hereby are authorized to use this bequest for a purpose in keeping with the spirit of this gift in the best interest of said Corporation.
Customized Language
If you or your attorney would like The ICCD to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
Questions? Contact us
The ICCD is a 501(c)3 non-profit organization. All donations are tax-deductible and Zakat eligible.
Ph: 847-824-1100
Email: Info@iccofdesplaines.org