At the start of a new year, many people start thinking about new beginnings, setting goals, getting organized and making plans for the future. It’s a natural time to take stock of what matters most. 

This year, consider adding one meaningful resolution to your list: creating or updating your estate plan to include a gift for your community. A gift in your will allows you to continue supporting the causes that have been important to you and ensures your values live on beyond your lifetime. 

At Greater Worcester Community Foundation, legacy gifts — also called planned gifts — are one of the most meaningful ways people continue to support the region they love. 

Why make a legacy gift? 

People choose to include charitable giving in their estate plans for many reasons. According to local estate planner Chris Mitchell, understanding what truly matters to clients is essential when building estate plans. In his experience, many clients share a few core motivations when it comes to charitable giving. “They want to make the world a better place, starting right at home,” said Chris. “Clients who include charitable giving in their estate plans often already give to charities and enjoy knowing that they are making a difference with their money.” 

Whatever the motivation, legacy gifts all share one thing in common: they reflect a deep belief in the community’s future. 

Through careful planning, your legacy gift to Greater Worcester Community Foundation can: 

• Support the causes you care about most. You can direct your gift toward education, the arts, health or any area that reflects your values.
• Provide lasting stability for local nonprofits. Your generosity can create an endowed fund that grows and gives back year after year.
• Make a difference at any scale. Whether your estate is modest or substantial, every gift contributes to the community foundation’s endowment, which pools resources for greater impact. Even a small percentage of your estate can grow into something powerful, supporting neighbors and causes you care about for generations.

Linda and Fred Looft created a field of interest fund at the Foundation to support youth and families. “The barrier was thinking it would be an unaffordable sum of money,” they shared. “The Foundation worked with us to find a way to start. And we’ll add to it over time.” 

By creating a fund now, the Loofts are able to contribute what they are comfortable with while also directing additional resources to the Foundation through their estate plan. 

Ways to create your legacy

Leaving a legacy doesn’t have to be complicated. Many donors find that one of these simple options works best for their situation:

• A gift in your will or trust. Include a bequest to Greater Worcester Community Foundation for a specific amount, asset or percentage of your estate.
• Your retirement plan or IRA. Name the Foundation as a beneficiary of your retirement plan — an easy and often tax-wise option.
• Your life insurance policy. You can name GWCF as a beneficiary or transfer ownership of a policy you no longer need.
• A charitable gift annuity. Receive fixed income for life, with the remainder supporting the community through the Foundation after your lifetime.
• Percentage giving. Some donors choose to designate a small percentage of their estate so their loved ones are cared for first while still giving back locally. 

Each approach offers unique benefits, and GWCF’s staff can help you explore which option fits your goals and values best. 

David Nicholson, who wanted to give back to the Bancroft School, said the charitable gift annuity was the best option for him: “The CGA allowed me to make a larger gift than I otherwise might have using highly appreciated stock while providing a steady income stream during retirement.”

While even modest gifts can have an extraordinary impact, some donors have chosen to make larger investments in Worcester County’s future. Mary Cocaine, who left the Foundation a $4 million bequest in 2023, created three distinct funds that annually support the Worcester County community: a scholarship fund that often helps students attend college debt-free, a field of interest fund to support immigrants and refugees, and a donor advised fund that makes grants guided by her family. 

Vaughn Kaprelian of Westborough also left a $4 million gift in his will, providing the Foundation with discretionary funds that have supported several Foundation initiatives, including affordable housing investments. 

Whether large or small, each of these gifts reflects a shared belief in the power of caring for the place we call home. 

A simple step with lasting impact

Including the Foundation in your estate plan is one of the most personal and powerful ways to give back. It reflects what matters most to you and offers peace of mind knowing that your contribution will continue to strengthen the community you love. 

“Every legacy gift, large or small, helps build a foundation for Worcester County’s future,” said Pete Dunn, president & CEO of Greater Worcester Community Foundation. “Together, we’re ensuring that generosity continues to define this community for generations.” 

As you look ahead to the new year, consider making a resolution that lasts far beyond this season. By including a gift to your community in your estate plan, you’ll create a ripple of good that will endure for decades and ensure a stronger, more generous Central Massachusetts. 

Learn more about creating your legacy 

To learn how you can include Greater Worcester Community Foundation in your estate plans, visit greaterworcester.org/giving/give-later. 

Taking the generous step of remembering the Foundation in your will is always completely up to you. But if you choose to share your plans, the Foundation would love the opportunity to thank you and welcome you to its legacy Acorn Society. 

Your story is part of the story of Worcester County. A legacy gift can make sure this region continues to be strong, vibrant and full of possibility.