Be a Leader: Planned Giving
WAYS TO MAKE A PLANNED GIFT
What if you could give a gift that lasts forever?
Few things about the future are known for certain, but it is reasonable to assume that the needs of people living in our community will never go away. That is why it is crucial that United Way of the Southern Tier continues to perform its vitally important role in community building.
United Way uniquely supports a circle of community services and agencies that address priority issues of Southern Tier citizens.
Every year, many loyal campaign donors demonstrate a commitment to make our community a better place to live by pledging their gifts to United Way. But what will happen in the future? How can all those critical human service programs that are supported now through annual campaign gifts to United Way continue to improve people's lives in our community?
How can a source of funds be built to support the mission of United Way today as well as in the future? The answer is through planned giving.
Planned giving provides donors with another way of caring with several ways to create a planned gift. An appropriately-planned charitable gift to United Way of the Southern Tier not only helps the community, but it can provide significant estate planning rewards for the donor, as well.
Donors should consult with their financial advisor or estate planning professional to select a planned gift that balances their individual needs and wishes, as well as their personal circumstances and interest in United Way of the Southern Tier.
Listed below are some ways you can make a planned gift that can make a significant, lasting impact and show how you deeply care for our community:
- Give an outright gift of assets during your lifetime.
Charitable gifts are still fully deductible under terms of the tax legislation enacted in May 2001. Gifts of cash can still be deducted from federal income tax in amounts up to 50% of your adjusted gross income (AGI). Gifts of appreciated stocks, mutual funds and other securities can have an immediate benefit for United Way and provide ideal tax savings for the donor. Charitable gifts made from appreciated securities held for at least one year and one day provide two tax savings, such as a charitable deduction and avoidance of capital gains tax. Also, funds that are donated in excess of the maximum amounts owed may be used to reduce taxes in up to five future tax years.
- Give by making a bequest in a will.
Naming United Way of the Southern Tier in your will is one of the simplest ways to make a lasting charitable gift. Bequests may be in the form of a stated dollar amount, a percentage of an estate residual, or particular pieces of property.
- Designate life insurance proceeds.
Life insurance is another simple way to make an enduring gift while realizing significant tax benefits. For example, you can name United Way of the Southern Tier the beneficiary of an existing policy, or of a paid-up policy you already own.
- Give through your retirement plan.
You may name United Way of the Southern Tier as the beneficiary of a portion of your IRA, 401(k), or other retirement plan. This method is a popular planned gift option, as assets from an IRA that are passed to a surviving beneficiary are subject to income taxes. Charitable gifts made from a retirement plan are deductible for estate tax purposes, allowing one's heirs avoid income tax on the amount that is gifted to charity.
Stocks and SecuritiesGiving stocks and securities can be a generous and smart way to invest in our community. For more information on this giving option, you may contact
Curt Bailey, Finance Director, or
Steve Hughes, Major Gifts Director, at 607.936.3753 or via email by clicking on Curt's or Steve's name.
MEMORIALS AND HONORARIUMS
Do you have a family member or friend who has always been extraordinarily special to you? Making a gift to United Way of the Southern Tier in their name is a unique way to remember and honor them.
You can commemorate this special person through a memorial gift in these two ways:
- A Memory Gift is given in someone's memory, and is often given in lieu of flowers after a loved one passes away.
- An Honorary Gift is given in someone's honor, to show an appreciation for an individual's continuing strong commitment to United Way.
Most memorial and honorary gifts are received as cash contributions, usually by personal check. Charitable gifts made from cash are tax deductible and convenient for the donor. An acknowledgment letter is sent to the person/family, letting them know of your gift without disclosing the amount.
By making a Memory Gift or an Honorary Gift, a special person whose relationship is important to you is remembered or honored according to your wishes. It is an enduring way to show how much you care.
UNITED WAY ENDOWMENT FUND
The Endowment Fund and other funds treated as endowment funds allow United Way of the Southern Tier to continue our work of mobilizing the caring power of our community to help people improve their lives.
The fund is administered by an investment manager approved by the Finance and Audit Committee and Board of Directors.
The income generated by the fund each year is invested into strengthening our community through United Way’s support of local programs and initiatives, ensuring that your gift will continue to provide for future generations.
