What is a planned gift?
A planned gift is a future commitment of resources often made through an estate plan.
Why does planned giving matter?
Planned giving helps organizations grow from a successful startup to a community mainstay by providing a revenue stream outside of annual giving. This increases organizational stability and lets donors maximize the impact of their resources over the long-term. Planned gifts are used in many ways including: growing an organization’s endowment, ensure funding for critical positions, or become the seed funds for new initiatives.
Does it really matter how I choose to give? Why do I need a plan?
Yes! Certain gifts have tax implications that can help you protect more of your estate for your family and give more to the ODCMG. For example, a life insurance benefit is generally not taxable, whereas most retirement account distributions are. The ODCMG is a tax exempt organization and is not subject to capital gains, income, or corporate tax. This means gifting taxable resources to the ODCMG benefits you and its mission!
What are some ways people give?
1) Cash, stock, bonds, mutual funds, real estate, art, and collections
2) Life insurance
3) Retirement Accounts (IRA, 401k, 403b, Simple IRA, etc)
This sounds technical, who are the experts?
ODCMG staff do not have technical expertise in planned giving. However, the ODCMG partners with both established organizations like local community foundations or colleges and industry professionals like attorneys, financial advisors and tax professionals. These partners are willing to leverage their knowledge to help donors contribute to the ODCMG.
What are some first steps?
• Make sure you have an estate plan. Before you plan for us, make sure to plan for your loved ones.
• Let the ODCMG know about your interest in learning more about planned giving. Staff will talk with you to get a sense of where you are in the process and introduce you to one of the ODCMG’s partners where necessary or appropriate.
• Tell your friends and family members that the mission of the ODCMG matters to you and that you are considering how to support it over the long run.