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Benefits of Giving Wisely
We're very pleased that you are interested in supporting Soroptimist. Your generosity will help us meet our current goals and achieve our future aspirations.
For our part, we encourage you to plan your gift thoughtfully. Now is the time, and this website is the place, to consider how your gift can benefit you and Soroptimist. Your gift can take multiple forms and can help you address a variety of personal financial goals. We're ready to work with you and your advisors to craft the gift plan that best meets your goals and objectives. But first, use the following guide to help you weigh your options:
Give now, or give later?
Any gift to Soroptimist will help us to meet our immediate program goals. In return, you will receive maximum tax benefits in the form of an upfront charitable contribution deduction. This type of gift is especially attractive if you are in high earnings years. It is also the simplest gift to arrange.
You may, however, prefer to leave your assets and cash flow alone until your death and make your gift through your estate. Even though we cannot use this gift immediately, it will be critically important to our long-term financial strength and help ensure our ability to meet future challenges facing women and girls.
To make a gift from your estate, you can use a will or revocable trust. You may also use life insurance or the balance remaining in your retirement plan. These revocable gifts ensure maximum planning flexibility, although they provide only limited current income tax benefits.
What assets to give?
- Cash
Cash is, of course, the easiest asset to give, both for you and for us. You are limited only by your cash flow and your inclination to draw from your cash reserves.
- Appreciated securities
Get the same tax deduction as if you had given cash, but use stocks, bonds, or mutual fund shares that cost you less than they are currently worth. Your deduction is based on market value, but you incur no capital gains liability on the transfer to us: It's one of the best tax incentives left, and we can work with your broker to make a gift of securities simple.
- Real estate
Gifts of land, vacation homes or income-producing properties can result in great benefits to you and to us. You can give real estate outright, transfer it in a part sale/part gift arrangement, use it to fund a life-income gift, or give your residence and reserve the right to live there until you pass away. Because of the issues involved with gifts of real property, we have to review each gift to real estate before we can accept it.
- A retirement account
The balance remaining in your retirement account after your death is often subject to double taxation if it passes to your heirs, being taxed both as income and as an estate asset. Result? Over 75% of the account value may go to pay taxes. A better alternative may be to designate the remainder of your account to us with other assets passing to your family. New regulations simplify the procedure for naming a charity as beneficiary of your retirement account. Please contact Soroptimist and your plan administrator for more information.
- Other appreciated assets
You may be holding a book collection or artwork that you no longer wish to maintain. These assets could be very helpful to us. There are particular IRS requirements to meet before you can deduct a gift of appreciated assets. We also review each gift proposal carefully to make sure that we can put the asset to good use.
- Business interests
A partnership, a business interest, or shares of closely held stock share may all hold value for us. If the proposed gift is acceptable to you and to us, we can work with you and your advisors to complete the transfer.
How can a gift pay you back?
Your gift to Soroptimist does not have to be made outright. We offer gift plans that pay you income in return for your contribution. You can receive fixed or variable income for your lifetime or for a term of years or direct the income to beneficiaries other than yourself. In essence, you make a contribution to us yet retain benefits from what you give away.
Your charitable deduction is based on the full market value of the assets you give us, minus the present value of the income interest you retain. The higher the income payout, the lower the deduction.
These flexible, creative gifts address a variety of your planning objectives. The promise of an income stream may allow you to consider a more substantial gift to us than you might be able to otherwise afford. Even though we cannot use these gifts until the death of the last income beneficiary, they contribute to our long-term financial strength and our ability to improve the lives of women and girls well into the future.
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