Other Ways to Give
In addition to a one-time or monthly donation, here are some other ways you may consider supporting the important work of SOAR!
You can list SOAR! as a primary or contingency beneficiary, or, when you take out a policy, you can specify a charitable organization such as SOAR! and your premiums will be tax-deductible. You can also use or assign dividends from an existing policy to a qualified charity. This eliminates out-of-pocket contributions, yet still creates a deduction as dividends are paid.
Individual Retirement Accounts (IRA)
You can donate all or part of your mandated withdrawal amount, or make a charitable organization, like SOAR!, the beneficiary, and save your heirs additional estate and income taxes.
IRA Charitable Rollover
On December 18, 2015, President Obama signed into law and made permanent qualified charitable distributions from IRAs. A charitable rollover makes it easier to use IRA assets to benefit favorite charities during a person’s lifetime.
Individuals over 70 years and 6 months must take an annual minimum distribution from their IRA. For those who do not need the minimum distribution, this means they can make a gift to a qualifying charity and help satisfy their minimum distribution requirement. The direct rollover is not counted as taxable income.
Here are some key points:
- You must be 70 years and 6 months or older at the time the distribution is made
- Your total IRA gifts to charity can be up to $100,000 per individual taxpayer
- You must make the donation directly from your IRA to a qualified charity, such as SOAR!
- The donation must be transferred directly from your IRA to the qualifying charity
- The provision applies only to IRAs and Roth IRAs.
Please contact your IRA administrator to make a qualifying transfer. Transfers must be made by December 31, 2016 to be counted for 2016.
Stocks, Bonds or Securities
Your gift of stocks, bonds or securities to SOAR! may result in tax savings. If you give stocks or bonds that have appreciated in value, you get a tax education for the full current value and neither you nor SOAR! have to pay capital gains tax for the increased value. Stocks or bonds that have decreased in value have a tax deduction for the current value; however, SOAR! would still benefit. Note that year-end stock gifts should be received at least ten days prior to the close of the calendar year for proper processing.
For those interested in supporting SOAR! via their workplace, there are a number of options:
- Combined Federal Campaign (CFC): SOAR! is a participant in the CFC campaign. Federal employees and military personnel can designate Support Our Aging Religious (SOAR!) to receive their contributions to the CFC. Our CFC number is 10041.
- United Way: Write in Support Our Aging Religious, Inc. on your pledge card and include the SOAR! IRS identification number: 52-1485481
- Matching Gifts: Your gift to SOAR! could be matched dollar-for-dollar or sometimes even more through your company’s matching gift program. Many employer-sponsored programs match charitable contributions made by their employees, retirees, and/or employees’ spouses. Click the button to see if your employer has a matching gift program to double your gift today.
Donor Advised Funds
A Donor Advised Fund (DAF) is a charitable giving vehicle sponsored by a public charity. It allows you, your family, or business to make an irrevocable contribution to a public charity that sponsors a DAF program and take an immediate tax deduction. Donors can then recommend grants to any IRS-qualified public charity, such as SOAR!. DAFs offer donors an easy way to plan, manage and potentially grow their charitable giving.
You can help SOAR! every time you shop at smile.amazon.com.
Amazon will donate 0.5% of the price of your eligible AmazonSmile purchases to Support Our Aging Religious, Inc. SOAR! whenever you shop on AmazonSmile.
AmazonSmile is the same Amazon you know. Same products, same prices, same service. Click on this link to sign up.
Every time you shop at any of the 1,700+ online stores in the iGive network, a portion of the money you spend benefits Support Our Aging Religious. It’s a free service, and you’ll never pay more when you reach a store through iGive. In fact, smart shoppers will enjoy iGive’s repository of coupons, free shipping deals, and sales. To get started, just create your free iGive account.
Sisters in Song CD
Sisters in Song is a non-profit national choir of Catholic Sisters whose recordings generate funds to help meet the retirement needs of the men and women religious in the United States. There were three albums in the series, only one of which is still available, “Rejoice!”. The net proceeds from the sales of all Sisters in Song recordings are distributed equally to the National Religious Retirement Office and to SOAR!
CDs are available through the OCP website.
If you have additional questions about any of the giving choices above, do not hesitate to contact SOAR! via email or by phone at (202) 529-7627