Society takes care of them, feeds them, and they are professionally motivated for no other work but to unfold the Divine.... Dedication to the Supreme Intelligence of Nature—that is natural in some people, [and] to those people I want to give full assistance so they can completely, one-pointedly focus on developing this Omnipresence, Omniscience, Omnipotence of the Light of God. —Maharishi
Bequeathing assets to the Maharishi Purusha ProgramSM through planned giving is a good way to help insure that the PurushaSM program can continue to bless the world with greater peace, harmony, and enlightenment for many generations to come. Whatever the size, your contribution will serve as an investment to create and maintain a bright future for the world. One easy way to contribute is including Purusha in your will. With that in mind we want to share with you information on how you can create a will for free through FreeWill.com.
FreeWill is a free estate planning tool that guides you through the process of creating or updating your estate plan. In just 20 minutes, you can protect the people and causes you love by structuring an estate plan that fulfills your wishes. FreeWill is a secure, online tool that takes you through the will preparation process step by step. For a simple estate you can print your legal will to be signed and witnessed. For more complex estates, you can use FreeWill to create a will and then work with a qualified attorney or advisor to finalize your plans. Any arrangements you make can be altered at any time so that your lifestyle need not be affected if your circumstances change.
No matter how old you are or how much wealth you have, writing a will can protect your loved ones and give to the causes you want to support. This tool presents an opportunity to plan for yourself and get peace of mind as you look ahead. FreeWill’s self-help solutions have helped more than 1 million people to write a legal will completely free of charge. We encourage you to take advantage of this resource today.
A successful gift—one that will benefit both you and the Purusha program—starts with careful planning. Planned giving combines an appreciation of the current needs and long-term goals of Purusha with an inventory of your own financial, tax and estate planning objectives. The result is a gift that delivers more benefit to us than you thought you’d ever be able to provide, and at the same time saves you taxes and/or preserves your estate.
If you are interested in learning more about a planned gift to the Maharishi Purusha Program, please contact us. Of course, in considering such a gift, you will want to consult your legal and tax advisors. We would then be happy to speak with you or your advisors to answer any questions you may have about a planned gift to Purusha. You can contact us at secretary@purusha.org.
If you’ve already created an estate plan and included Maharishi Purusha Program in your will, please take a moment to fill out this brief form.
You can also create an advance healthcare directive and durable financial powers of attorney for free on the FreeWill website.
A will or living trust that includes Purusha as a charitable beneficiary is no different from any other will, except that it includes bequest language to benefit Purusha. Your bequest provision can take many forms, such as naming Purusha for a specific dollar amount, a set percentage of the total value of your estate, or the remainder of your estate after you have provided for family. Your bequest provision can be accommodated when you generate a will through FreeWill.com or you can create a will without using FreeWill and include the following language:
Sample Language for Bequests in a Last Will and Testament (not created through FreeWill):
Specific Bequest Language: “I give to Maharishi Purusha Program, FEIN 56-1824160, located in Romney, West Virginia, the sum of $_______ to be used for its general operating support.”
Percentage of Estate Language: “I give _____% of my estate to the Maharishi Purusha Program, FEIN 56-1824160, located in Romney, West Virginia, to be used for its general operating support.”
Residual Bequest Language: A residual bequest comes to Purusha after your estate expenses and specific bequests are paid. “I give and devise to Maharishi Purusha Program, FEIN 56-1824160, located in Romney, West Virginia, all (or a stated percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support.” Note: The language below would be used if one bequests specific amounts to individuals or organizations and then wants the remainder (or a stated percentage) to go to Maharishi Purusha Program.
Contingent Bequest Language: Maharishi Purusha Program can be named as a contingent beneficiary in your will if one or more of your specific bequests cannot be fulfilled. “If (insert name) is not living at the time of my demise, I give and devise to Maharishi Purusha Program, FEIN 56-1824160, located in Romney, West Virginia, the sum of $_________ (or all or a percentage of the residue of my estate) to be used for its general operating support.”
For many individuals, qualified retirement plans such as Individual Retirement Accounts (IRAs), 401(k)s, 403(b)s, and Keoghs may represent a large percentage of their net worth. By naming Purusha on the change of beneficiary form for your retirement plan, you can designate Purusha to receive a portion of the funds left in the account at your passing. Not only is this simpler than drafting a codicil to your will, it also has tax advantages. If your qualified plan assets pass to someone other than your spouse at your death, they may be subject to both income and estate taxes. For some individuals, this can result in more than 70% of the account’s value going to the government in taxes. When Purusha is designated as the beneficiary, no income or estate taxes are due on the funds given to Purusha.
Another way to contribute to Purusha is to designate Purusha as a beneficiary in your regular bank or brokerage accounts.
Brahmananda Saraswati Foundation (BSF) recently announced that in addition to managing endowment funds for the support of the Maharishi Vedic Pandits®, they are happy to receive donations and bequests to their endowment fund for the support of other TM® organizations, including MIU, Purusha, Mother DivineSM, and Maharishi Foundation, the US organization that teaches the TM program in the United States. In this way donations or bequests can go to one foundation (BSF) and the donor can specify what percentage or amount they want to be restricted for which organization. BSF will then distribute the income from the BSF endowment fund to the specified organizations. The Board of Trustees consists of all the leading administrators of Maharishi’s worldwide organization, including all of the Rajas, and is professionally managed to generate a good return on its investments. For more information on BSF and their endowment fund visit: https://donate.vedicpandits.org/donate/endowment.php.
To bequeath funds to the Purusha Endowment Fund, you may use the following language in your estate planning:
Specific Bequest Language: “I give to the Brahmananda Saraswati Foundation Endowment Fund, located in Fairfield Iowa, the sum of $_______ to be used for the support of the Maharishi Purusha Program, FEIN 56-1824160.”
Percentage of Estate Language: “I give _____% of my estate to the Brahmananda Saraswati Foundation Endowment Fund, located in Fairfield Iowa, to be used for the support of the Maharishi Purusha Program, FEIN 56-1824160.” Note: If you want a percentage or specific amount going to the BSF Endowment Fund to benefit other organizations as well, then the language must be changed to reflect this.
Residual Bequest Language: A residual bequest to the BSF Endowment Fund for the benefit of Purusha comes to BSF after your estate expenses and specific bequests are paid. “I give and devise to Brahmananda Saraswati Foundation Endowment Fund, located in Fairfield Iowa, all (or a stated percentage) of the rest, residue and remainder of my estate, both real and personal, to be restricted for the benefit of the Maharishi Purusha Program, FEIN 56-1824160, for its general operating support.”
Note: This language would be used if one bequeaths specific amounts to individuals or organizations and then wants the remainder left to go to the Brahmananda Saraswati Foundation Endowment Fund.
Contingent Bequest Language: Brahmananda Saraswati Foundation Endowment Fund, for the benefit of the Maharishi Purusha Program (FEIN 56-1824160), can be named as a contingent beneficiary in your Will if one or more of your specific bequest cannot be fulfilled. “If (insert name) is not living at the time of my demise, I give and devise to Brahmananda Saraswati Foundation Endowment Fund located in Fairfield, IA, for the benefit of the Maharishi Purusha Program, the sum of $_________ (or all or a percentage of the residue of my estate) to be used for the general support of Purusha.”
Capital Improvements and Special Projects
If you would like to donate to a specific project to improve our landscaping or other Purusha Capital improvements, please contact us.
Insurance
As you go through life, your insurance needs may change. Certain policies, such as those you may have purchased to ensure enough money for your children’s education or to pay off the mortgage in case of an unexpected death, are often no longer necessary. You may find that you can use the remaining value in these policies for charitable gifts in support of Purusha.
Insurance Beneficiary Designations
If you no longer need the entire death benefit of an existing insurance policy, consider naming Purusha as the beneficiary of all or part of the proceeds. To do so, contact your insurance carrier and complete a change of beneficiary form naming Purusha.
Outright Gifts of Life Insurance
In some cases, if you own a fully-paid, existing life insurance policy that you no longer need, you may want to consider donating and making Purusha the owner of the policy. By doing so, you benefit from an income tax charitable deduction for approximately the cash surrender value of the policy. We generally liquidate donated policies immediately and use the proceeds as you designate.
Charitable Gift Annuity
You can make a gift that yields guaranteed fixed income payments for the rest of your life to yourself as well as a second person such as a spouse or significant other. Payments are typically much higher than your return on “safe” investments such as low-earning securities and CDs. The older the donor, the higher the rate of payout. After the donor (and the secondary beneficiary if one has been designated) passes, the remaining funds can be used by Purusha.
Charitable Lead Trust
You contribute assets to a trust. The trust makes fixed payments to the Maharishi Purusha Program for a fixed number of years. When the contract is completed the remaining assets go tax-free to your heirs. Please contact our donations office for more information and how to structure this type of gift.
During Your Lifetime – Under Age 70 1/2
People have asked if it makes sense to take a distribution from a qualified retirement plan and use it to make a charitable gift during your lifetime. For those individuals under age 70½, there is little benefit in doing so. Your distribution is subject to income tax, which may then be offset by your income tax charitable deduction. However, other assets, such as appreciated stock or even existing cash, will likely produce a more tax-advantaged result.
During Your Lifetime – Age 70 ½+
The Pension Protection Act of 2006 allows those individuals age 70½+ to transfer up to $100,000 per year directly from an IRA to 501(c)(3) charities like Purusha. This provision is especially attractive if you have exceeded the 50% limitation on charitable deductions for cash gifts or are subject to the Pease Amendment phaseouts of income tax deductions. While it expired at the end of 2013, each year since 2006 the amendment has been renewed by Congress. Please check with your financial advisor or contact us.