Endowments & Estate Giving
The skilled labor shortage will not end soon. It will take years—if not decades—to see a change in the manufacturing workforce. It is the mission of Nuts, Bolts & Thingamajigs to make that day come sooner, rather than later. If you believe in the work of the NBT Foundation, and if you desire to leave a legacy for those who follow you, consider setting up an endowment or leaving a charitable gift to NBT in your will or estate plan.
Another way to help NBT in its efforts to narrow the skills gap is to designate NBT as a percentage (1 to 100 percent) beneficiary of your IRA or other retirement plan assets. When you leave a portion of your retirement plan assets to the foundation, you can protect your family members from heavy taxes and get the most value from your retirement savings.
You may also consider naming NBT as the primary beneficiary in a life insurance policy if the purpose of the policy no longer applies as in the education of your children who are now adults. All of these are simple ways to ensure that your legacy lives on!
When you decide to give an estate gift or create an endowment, the staff at the Foundation will work with you to develop a formal agreement of your intent and outline your gift or endowment’s purpose. Your gift will then be consolidated with FMA’s endowment, a professionally managed and diversified investment fund. Pooling gifts like this allows for greater diversification and, thus, better long-term returns.
If I have questions, how can I learn more?
If you are interested in establishing a named endowment fund or estate giving, please contact Jim Warren, Executive Director – Member Services, Education, and Foundation, at (815) 227-8213.