United Way of Portage County can assist donors in identifying giving strategies that will fulfill their personal, family, and business goals in conjunction with their long-term charitable goals. United Way is dedicated to finding the most efficient, personally satisfying, and financially advantageous method for each donor to make their contribution.
In addition to annual giving, there are many ways to contribute to the United Way Endowment, including many with significant tax advantages. If considering such a gift for tax purposes, it is recommended to contact a financial or tax advisor for more information. United Way Endowment gifts may include:
Outright Cash Donation
The simplest way to support the United Way Endowment is with an outright gift of cash. Many donors choose to make gifts in honor or in memory of a loved one or caring community member.
Gifts through Will or Trust (Bequest)
A will or trust is by far the most popular and convenient way to make a planned gift to the United Way Endowment. Individuals may make a general bequest of a stated amount or percentage of their estate, or they may make a residuary bequest, which provides for a gift after all other bequests have been satisfied
Qualified Charitable Distributions (QCD’s)
Some individual retirement accounts (i.e. IRAs, SEP IRAs, Simple IRAs) have a required minimum distribution once a person reaches at least age 70-1/2. A donor can make a transfer of funds from their account, payable directly to a qualified charity like the United Way Endowment. QCD’s count toward your required minimum distribution for the year. This strategy allows for the distribution to be tax-free.
United Way Beneficiary Designation
Naming the United Way Endowment as a beneficiary of an individual retirement account, life insurance policy, and/or 401(K) is an easy way to make a legacy gift. A donor may also choose to designate the United Way Endowment as a charitable recipient of a Donor Advised Fund or public/private foundation.
Gifts of Appreciated Securities
Stocks, bonds, mutual funds, and other appreciated securities may be donated to the United Way Endowment. A benefit of such a gift, beyond any charitable income tax deduction, is the avoidance of capital gains tax on the appreciation. Regardless of your income bracket, it is almost always to your advantage to transfer appreciated securities to the United Way Endowment directly, rather than selling them and giving cash. In the case of securities having depreciated in value, in most cases, it is advantageous for you to sell the security, take the capital loss for tax purposes, and donate the proceeds
Gifts of Property
There are two major forms of property: real and personal. Real property is real estate — for example, a home, farm, or vacant land. Personal property includes cash, securities, art, patents, copyrights, and any other non-real property item that has a determinable value.
Life Income Gifts
Increasingly popular methods of giving are the (i) charitable gift annuity, (ii) two basic types of charitable remainder trusts – the charitable remainder annuity trust and the charitable remainder unitrust, and (iii) the charitable lead trust. These life income gifts can provide funds for the donor and/or their loved ones now and benefit a charity now or in the future.