Planned giving is all about a long-term strategy to help keep Steps to HOPE’s doors open far into the future. This includes any major gift, made in lifetime or in death as a part of a donor’s overall financial and/or real estate planning. Whether you donate cash, appreciated securities or stock, real estate, artwork, partnership interests, personal property, life insurance, a retirement plan, etc., the benefits of funding a planned gift can make this type of charitable giving very beneficial to you and us.
Investing in our endowment fund helps ensure that we can continue our mission to end domestic violence and sexual abuse, provide shelter to victims, and educate our community for generations to come.
When you contribute, you are giving to something that will continue in perpetuity, and in turn you will gain a sense of satisfaction knowing you have made a lasting impact.
Chances are very good that the amount Steps to HOPE will receive from your endowment will increase over time through prudent investments. Our investment committee will manage assets to grow and keep up with, or even exceed, the rate of inflation.
The easiest way to include Steps to HOPE in your financial/estate planning is through your will.
If you already have a will, you can make a simple addition, called a codicil, without having to rewrite the entire thing. If you have not yet made a will, please consider including us when you do. No matter how big or small a contribution, you could make a difference to the future of Steps to HOPE.
There are several ways to leave a bequest. You may leave the remainder of your estate once you have provided for loved ones, or you can choose to leave a share of your estate by specifying a percentage or dollar amount. We strongly advise that you consult with your financial advisor to ensure your bequest is drawn up correctly.
Gifts of Appreciated Securities
A charitable contribution of long-term appreciated securities (i.e. stocks, bonds and/or mutual funds that have realized significant appreciation over time) is one of the most tax-efficient of all ways to give. Donations in the form of non-cash contributions has become an increasingly popular method of giving in recent years.
Any long-term appreciated securities with unrealized gains (meaning they were purchased over a year ago, and have a current value greater than their original cost) may be donated to a public charity and a tax deduction taken for the full fair market value of the securities — up to 30% of the donor's adjusted gross income
Since the securities are donated rather than sold, capital gains taxes from selling the securities no longer apply. The more appreciation the securities have, the greater the tax savings will be.
Gifts of Life Insurance
If you have a permanent life insurance policy that you no longer need, please consider gifting it to Steps to HOPE. Gifting a life insurance policy can greatly reduce your taxable estate, granting you a sizable tax break, and is often easier than liquidating other assets in order to make a donation.
Gifting Retirement Plan Assets
Many people hold a significant percentage of their wealth in their retirement plan accounts, such as a 401(k) plan or IRA. The assets in these accounts grow tax-free over time but have significant built-in tax liability.
Accordingly, a large percentage of the assets in the accounts will be lost to tax if the account is left to someone other than a spouse upon the account owner’s death; however, using these assets for charitable gifts at death can be advantageous for tax purposes.
You can name Steps to HOPE as beneficiary of part or all of your account simply by requesting a form from the plan’s custodian.
Memorial or In Honorarium Gifts
With Steps to HOPE, you have the opportunity to honor a special person or make a memorial donation by helping to make a difference in the lives of those in our area affected by domestic violence and sexual assault.