What is the Charitable Gifting Program?
The North Carolina Mutual Life Insurance Company (NCMLI) Charitable Gifting Program is a tax deductible donation to our family foundation in the form of a life insurance policy. It is designed to create life insurance endowment funds through policies underwritten by NCMLI Company. The Benjamin and Edith Spaulding Descendants Foundation (BESDF) Charitable Gifting Program will allow members and supporters to make substantial tax-deductible gifts to the foundation, starting with policies that have a $25,000 face value, where you will make monthly tax deductible premiums. The program will enhance our financial base and ensure continued economic growth for the family foundation and will also support NCMLI Company which is feeling the pressure of the economic downturn. In certain circumstances, the gift can start at $10,000 and the maximum gift amount is $1,000,000. The family foundation will be the owner and irrevocable beneficiary of each life insurance policy purchased. We need all member
