Lycoming

Law

Association

Foundation

• Annual Report - 2005

• Donate Arbitration Fees

• By-Laws

The Lycoming Law Association Foundation (LLAF) is a tax-exempt not-for-profit, 501(c)(3) corporation.  The mission of LLAF is to ensure access to justice by raising funds to preserve and expand civil legal services for low-income people in Lycoming County.

LLAF provides funding for the Williamsport Office of North Penn Legal Services (NPLS) which has provided civil legal services on a wide range of high priority legal problems to poor people in Lycoming County since 1974.

LLAF coordinates an annual campaign to solicit attorneys and law firms in Lycoming County for their support. Proceeds from annual fund-raising efforts are retained to fund an Endowment.  This brochure highlights giving opportunities to LLAF beyond the annual campaign contribution.

Most of the gifts LLAF receives from individuals are in the form of a check written by the donor. This type of gift is fully deductible for federal income tax purposes up to 50% of the individual's adjusted gross income for the year in which the gift is made. If the amount of the gift exceeds this limitation, the excess may be carried forward to use as charitable income tax deduction for an additional five years.

LLAF can be named as beneficiary in your will in any one of a number of ways. A "specific bequest" in your will can direct that a designated asset will pass to LLAF. A "general legacy" can provide that a specified sum of money be distributed to LLAF. By leaving LLAF a "residuary bequest" LLAF will receive all or the specified portion of your estate only after other bequests have been satisfied. Similarly, LLAF could be name the "remainder beneficiary" of a trust established for the initial benefit of another beneficiary. Finally a "contingent bequest" to LLAF permits it to receive property from your estate only if the primary beneficiary or beneficiaries do not survive.

LLAF will be pleased to provide sample language for these bequests on request. Making a provision for LLAF in your will can often be accomplished by a single amendment or a codicil to your will; it may not be necessary to redraft the entire will.

Regardless of the amount or form of your gift, LLAF is pleased to accept gifts that are given as memorials to loved ones, friends, or colleagues, or as a means of honoring special persons or accomplishments. You can commemorate an anniversary of your law firm, honor a colleague who has recently been made a partner, celebrate a birthday or special occasion, or make a gift in memory of a loved one, LLAF sends appropriate acknowledgments to the donor and the honoree or family, and recognizes both the donor and the honoree in all printed acknowledgments.

There are numerous alternatives in integrating your charitable giving goals into your personal financial planning. If any of the planning ideas set forth in this pamphlet seem appropriate to your needs, we encourage you to discuss them further with your legal and tax advisors. While the purpose of this pamphlet is to provide general information regarding these types of gifts, LLAF is not organized for the purpose of rendering legal or tax advisory services. If we can furnish you with more information on how your financial support can assist legal services programs in LLAF please contact us.

LLAF provides important financial support to the Williamsport Office of North Penn Legal Services which serves low income clients in Lycoming County. The continued strength of this program depends in large part upon the financial support of private individuals. In addition to providing financial support to this program, your contributions to LLAF provide tax benefits to you and plan an important role in your financial and estate planning.

The federal tax laws are structured to encourage gifts to charitable organizations, such as LLAF, both during life and upon death. Gifts to LLAF made during life can generate current income tax deductions, as well as remove the property from the application of taxes at death. Gifts to LLAF upon your demise can reduce your death taxes, even though they generally will not generate a current income tax deduction. Which plan works best for you depends upon your goals and your financial circumstances.

Lycoming Law Association Foundation

Williamsport, PA 17701

(570) 323-8287