Ways to Give
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Have you heard about Leave A Legacy? An initiative
of the Greater Cincinnati Planned Giving Council, Leave
a Legacy is a community-wide collaborative effort designed
to encourage people from all walks of life to make
gifts through their estates to the nonprofit organizations
that have made a difference in their lives, such as
the DSAGC.
One of the primary goals of Leave a Legacy is to raise
awareness in our community that you do not have to
be a millionaire to make a lasting impact on organizations
like the DSAGC. Through a simple bequest in their will,
anyone can make a gift that will benefit their favorite
nonprofit for years to come.
For example, let’s suppose that you have been in the
habit of donating $100 every year to DSAGC’s annual
fund, and you’d like to know that even after you die,
the DSAGC would continue to receive $100 every year
to support the programs and services that you value.
A bequest in your will in the amount of $2,000 would
generate enough income every year to essentially endow
your annual gift forever!
You may have never thought of yourself as a philanthropist,
but Leave A Legacy program wants you to know that you
do not need to be a Rockefeller to make a lasting difference
in the lives that follow you.
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We recently had a conversation with a long-time friend
of the DSAGC who was very interested in talking with
us about a concept he had heard about that he thought
might be a wonderful gift idea that would benefit
both him and the DSAGC.
What our friend wanted to discuss with us was a charitable
remainder trust (CRT), one of a variety of gift options
that allow the donor to make a gift to an organization
like the DSAGC, and still retain an annual income stream
from that gift for himself or his loved ones. Although
that may sound too good to be true, in fact it is possible
to transfer assets to the DSAGC and keep the income
from those assets for the benefit of yourself or perhaps
a spouse or child for your or their lifetime.
Gift structures like the charitable remained trust
don’t work for everyone, but for those for whom the
CRT makes sense, they can be a wonderful way of taking
care of your favorite nonprofit, while also taking
care of your family.
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Sharing our blessings through charitable giving is
an American tradition unparalleled anywhere in the
world. Our current tax laws encourage giving by making
it possible to bypass income, gift and estate taxes
on funds donated for charitable purposes.
Through careful planning you can receive the benefit
of supporting the DSAGC while lowering your income
tax obligation. Remember that a gift made to the DSAGC
before December 31 can reduce your federal income tax
bill in April. Your check must be postmarked by December
31 in order to receive a deduction for that calendar
year.
For example, if you are in a 33% income tax bracket
in a calendar year, and you itemize deductions, a gift
to the DSAGC of $1,000 before December 31 will save
you $330 in income taxes when you file your return
next year.
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The DSAGC is committed to providing programs and
services that are responsive to the growing and ever-changing
needs of our community. From time to time, a need
or opportunity arises to develop a new program or
expand an existing program beyond the parameters
of the operating budget. Grants from foundations
and corporations cannot always be obtained in a timely
fashion, may be significantly restricted in terms
of how the money can be used and generally are not
renewable each year.
Therefore the DSAGC’s Board of Trustees has approved
the creation of a new fund called the Visionary Fund,
the purpose of which is to provide seed money for new
DSAGC programs or services, or to enable them to expand
or enhance existing programs or services. This fund
may be used only for these defined purposes, and only
upon a vote of majority of the Board of Trustees.
This fund will not cover program costs that are already
included in the operating budget. It is very important
that donors and friends of the DSAGC continue to direct
their primary support to our annual fund each year,
since the annual fund provides critical monies to pay
for our current programs and services.
But those individuals who may wish to make a special,
additional gift over and above their annual contribution,
or who are thinking of including a bequest to the DSAGC
in their will or trust, may want to consider directing
that special gift to the Visionary Fund where it will
be available to make possible new or expanded programs
as future opportunities arise.
If you would like discuss your options to support
the DSAGC please contact Janet Gora, Executive Director
at janet@dsagc.com or
by calling 513.761.5400.
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