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Financial Stewardship:
Planned Giving
Making a planned gift to USG is a meaningful way to support your beliefs. Additionally, this type of giving may help you achieve specific financial goals, such as reducing or eliminating certain tax liability. The information given below is general in nature and is not intended as legal advice. Please consult with an attorney or tax advisor to determine which giving opportunity is best for you.
Bequests
A bequest in your will or living trust is an uncomplicated way to help support USG. A bequest may be a specific sum, a percentage of your estate, or the remainder of your estate after expenses and gifts to loved ones. Bequests can include cash, securities, real estate, houses, and personal property such as art, or jewelry.
A bequest to USG is not subject to Federal or estate taxes, and there's no limit on the amount of the deduction. More information on bequests.
Charitable Remainder Trusts
A charitable remainder trust is one of the more complex estate planning options but might be a good choice for those with greatly appreciated assets who want to receive income for life. The donor transfers the asset to the trust, where it is sold, avoiding capital gains tax. The proceeds are invested, with the donor or other beneficiary receiving payments for life or a set term. At the end of the trust's life, the remaining principal is gifted to USG. To set up a Charitable Remainder Trust, please consult your attorney or estate planner.
Naming USG as a Beneficiary
If you have a life insurance policy that is no longer needed to provide for dependants, consider making USG the beneficiary. This may enable you to make a significant gift to USG without using any of your estate's capital. A further option is to make USG both the beneficiary and owner of a paid-up policy. Doing so will earn you an immediate tax deduction equal to the policy's cash value. Contact the policy's issuing agent for instructions.
Some assets, such as IRAs, Keogh Plans, and other qualified retirement plans, do not pass directly through your will and require you to name a beneficiary. Consider making USG a full or partial beneficiary. Such plans can be excellent choices for charitable gifting because they are taxed more heavily than other assets. However, by making USG the beneficiary, the full value of the account will pass to USG.
A relatively easy planned giving option is to buy a Certificate of Deposit (CD) at your local bank and name USG as the beneficiary, payable-on-death. The CD can remain on deposit earning interest until the holder's death, then USG would receive its value. Make sure the CD you buy automatically rolls-over and maintains the beneficiary designation.
Gifts of Property/Real Estate
Gifts of appreciated property can be given to USG through a donor's will or living trust. The donor would receive an estate tax charitable deduction for the full value of the property; however, a qualified appraisal (obtained no earlier than 60 days before you make the gift) is necessary to substantiate your income tax deduction.
Matching Gifts
Thousands of U.S. companies and corporate foundations match their employees' gifts to nonprofit organizations, such as USG. To find out if your company offers a matching gift program, contact the personnel officer.
Stock Donation
USG accepts donations of stocks, bonds, and/or mutual funds. Stocks that have appreciated in value can be subject to capital gains tax when sold; however, by transferring your appreciated shares of stock directly to USG (rather than selling them and remitting the proceeds to USG), you can avoid all capital gains and resulting taxes. Plus, the IRS allows you to claim, on your itemized Federal income taxes, the full fair market value of the shares (calculated as the average of the high and low prices on the day USG receives the shares as a charitable gift).
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©2008 The Unitarian Society of Germantown
6511 Lincoln Drive
Philadelphia, PA 19119-3625
Phone: (215)-844-1157
The Unitarian Society of Germantown, a Unitarian Universalist congregation, serves the communities of Abington (zip code 19001), Ambler (zip code 19002), Elkins Park (zip code 19027), Glenside (zip code 19038), Jenkintown (zip code 19046), Merion Station (zip code 19066), Narberth (zip code 19072), Oreland (zip code 19075), Havertown (zip code 19083), Wyncote (zip code 19095), Wynnewood (zip code 19096), Philadelphia Chestnut Hill (zip code 19118), Wyndmoor (zip code 19118), Philadelphia Mt. Airy (zip code 19119), Philadelphia Roxborough (zip code 19128), Philadelphia East Falls (zip code 19129), Philadelphia Spring Garden (zip code 19130), Philadelphia Fairmount (zip code 19130), Philadelphia Wynnefield (zip code 19131), Philadelphia Germantown (zip code 19144), Blue Bell (zip code 19422), Gwyned (zip code 19436, Lansdale (zip code 19446), Bala Cynwyd (zip code 19004), Lafayette Hill (zip code 19444), Melrose Park (zip code 19027), Roslyn (zip code 19001), Rydan (zip code 19046), Laverock (zip code 19038), Plymouth Meeting (zip code 19462) , Flourtown (zip code 19031), Erdenheim, Cheltenham (zip code 19012), and Ft. Washington (zip code 19034). Visitors from any other location are equally welcome.