May 2008
     
 
   Smart Planning Provides for Donors and the Community
 
 

Charitable gift annuity allows Hanzaleks to receive income and achieve philanthropic goals

Astrid and Fred Hanzalak

Astrid Hanzalek, of Suffield, spent a decade serving the community as a state representative. When Astrid began working with high school students to deepen their understanding of the legislative process, she was surprised to find that they knew far less than she expected. Astrid’s husband, Fred, was also surprised, having been involved in government as a volunteer lobbyist for the American Society of Mechanical Engineers.

“The strength of our democracy requires public participation and we realized that we could greatly benefit our community by helping others understand and become involved in the legislative process,” said Astrid.

So, the Hanzaleks turned to the Hartford Foundation for help.

“We were very familiar with the good work of the Hartford Foundation through our involvement with area nonprofits,” explained Fred.

A retired engineer, Fred volunteers with the Service Corps of Retired Executives, and Astrid is active with Riverfront Recapture, Connecticut Landmarks, Connecticut River Watershed Council, and Charter Oak State College as its recently-named chairman of the board for state academic awards.

In 2007, the Hazaleks donated gifts of securities to establish two charitable gift annuities. After their lives, the charitable gift annuities, along with a previous gift, will establish the Frederick J. and Astrid T. Hanzalek Fund, a field of interest fund that will support activities that encourage civic awareness and involvement in the governmental process.

 
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Charitable gift annuities are an excellent way to guarantee an income and support the community through the Hartford Foundation. With a contribution of $5,000 or more, the Foundation pays the donor (and a loved one) fixed annual income for life. Payments may be deferred to a later time, such as after retirement. Tax advantages include an immediate income tax deduction, potentially beneficial treatment of the annuity payments, and removal of an asset from the donor’s estate.

For more information about charitable gift annuities and other planned gifts, visit www.hfpg.org/howtogive, or call the philanthropic services department at 860-548-1888. Foundation staff can provide free, confidential gift illustrations, as well as sample language for other types of gifts.