Consult a qualified professional for assistance and possible tax benefits.
Real Estate and Securities
Traditional donation alternatives to cash, time, or supplies are gifts of appreciated property, such as securities and real estate.
Tangible Personal Property
Consider donating personal property such as an RV or van which could be used for transporting animals, a car (must run), work of art, or a coin or stamp collection.
Life Payment Plans
A life payment plan can allow you to make a substantial gift to charity while still providing for your personal financial needs. There are several types of such plans, all of which combine life payments for one or more of your beneficiaries and OFOSA. These plans are attractive because they can offer substantial tax benefits and may increase cash flow to you and your beneficiary.
Charitable Remainder Trusts
The charitable remainder trust is popular because it offers retirement and estate planning flexibility. Remainder trusts are a way to make a gift that allows you to retain income from your property for life or for a period you specify. The income from the trust can supplement a retirement plan or manage assets for you or surviving loved ones. At the death of the income recipient(s), whatever remains in the trust is distributed to OFOSA.
When you arrange for a gift annuity, a specified amount of money, securities, or real estate is transferred to OFOSA. In exchange, you receive regular payments for the rest of your life and/or that of a loved one.
As life insurance needs change, children become self-sufficient, and mortgages are paid, your life insurance may not be needed for the reason it was originally purchased. Naming OFOSA as the beneficiary to receive all or a portion of the policy is a simple way to make a significant gift.
Wills and Bequests
Distributing your estate by means of a professionally drafted will ensures that your wishes will be carried out. Your will can also serve as a creative vehicle for making a thoughtful gift to OFOSA. If you already have a will, you can have your attorney add a simple amendment (known as a codicil) directing that resources be put aside for OFOSA. You can give a percentage of your total estate, a specific dollar amount, or specific property. Or you can name OFOSA as the residual beneficiary to receive your property if the primary beneficiaries are not there to inherit it.