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Private support of the Sons of Italy Foundation (SIF) is vital to its success. To assist donors, the SIF provides a full range of donation options. For donations to the SIF's national charities, 85% of all donations received go directly to the charity. All are tax-deductible to the extent allowed by federal law.
All gifts to the SIF are evaluated regularly by the Board of Trustees and an independent auditor. Full fiduciary responsibility for the management of donor accounts and distribution of funds to beneficiaries is administered by SIF staff and a professional team of advisors, including accountants, attorneys and certified financial managers.
When you make a gift to the SIF, you have flexibility in determining how the funds will be used, as well as multiple options for making your gift.
Unrestricted gifts, large or small, are among the most valuable to the Sons of Italy Foundation because they allow us to allocate funds wherever the need is greatest, and to take advantage of unique opportunities as they arise.
Directed gifts allow you to designate your gift to a specific SIF program, or to an endowment you may establish. When you make a directed gift to the SIF, you enjoy the satisfaction of knowing you are supporting a program that is personally meaningful to you.
Endowments provide security over the long term by expanding the SIF's permanent financial base and creating a predictable source of future income for such things as scholarships or other specific programs. The principal donation remains untouched.
Please contact the National Office for more information or to make an endowment, legacy or other major gift.
When you make an outright gift to the Sons of Italy Foundation, your contribution can be put to work immediately, providing funding for current programs. An outright gift may be composed of almost any asset of value.
Cash gifts, the easiest gift to make, may be made online, by phone or by mail, using a credit/debit card or a personal or business check made payable to the SIF.
Gifts of appreciated securities, stocks, and bonds also provide considerable tax advantages when transferred to the SIF before they are sold. If you have held your securities for more than one year, you may find that your gift will provide a twofold tax benefit, creating an income-tax deduction as well as eliminating the capital-gains tax that would have been due on their sale. If you own securities that have declined in value, you may wish to sell them and donate the proceeds to the SIF. In this way, you establish a loss on the stock for tax purposes and claim a deduction for a charitable contribution. View our Stock Transfer Instructions.
Gifts of real estate and other property may provide multiple benefits. You can possibly avoid capital gains tax and claim a charitable deduction of the full fair market value of the property. Kindly contact the National Office [link to http://www.osia.org/about/contact.aspx] prior to making a gift of this nature.
Occasionally, the SIF will accept in-kind gifts of items or services to be used in association with special events. Kindly contact the National Office prior to making a gift of this nature to determine if there is a current need.
The Sons of Italy Foundation welcomes your gift through a pledge – a formal statement of intention to make a gift to the SIF.
With a pledge, you may complete your gift by making regular payments over time, allowing yourself to give more generously than you originally may have considered. Each payment on your pledge is eligible for an income-tax deduction in the tax year in which it is made.
Estate Planning
Considering philanthropy in your estate planning is an excellent way to make an impact on a cause that is meaningful to you.
There are multiple ways you can include the SIF in your estate planning:
Designate the SIF a beneficiary of some or all of your estate (often limiting the impact on your current financial situation). Gift options include but are not limited to Wills, Living Trusts, IRAs and Life Insurance policies.
Make estate gifts to the SIF during your lifetime (often decreasing the tax responsibility placed upon your heirs). Gift options include but are not limited to substantial outright gifts of cash, securities or real estate, Charitable Trusts and Retained Life Estates.
Whichever option you decide, you are choosing to help the SIF in a very significant way.
As with any major financial decision, it is recommended you consult your financial planner, attorney and/or other advisors prior to establishing a legacy gift / planned giving to determine what options are available and best suited to your needs.
Please contact the National Office for more information or if you wish to establish a legacy gift / planned giving to the SIF.
Bequests (Wills & Living Trusts)
Bequests allow you to leave money to the SIF, and are accomplished through an executed Will or Living Trust. Substantial gifts can be made without affecting your family's current security. The amount and the ultimate use of the funds may be designated by you or left to the discretion of the SIF.
Charitable Trusts
Establishing a Charitable Trust provides you an opportunity to make a significant gift to the SIF now that reduces the tax responsibility of your heirs later.
Life Insurance
You may name the SIF as the beneficiary of any Life Insurance policy. You make all the premium payments, retain ownership of the policy, and have full access to the cash value. You may also name the SIF as the owner of an insurance policy.
IRAs & Other Tax Advantage Retirement Plans
Payments from IRAs to individual beneficiaries generally are reduced by various taxes (estate, federal and state income taxes), leaving your beneficiaries in some cases with very little of the initial value. By designating the SIF as the beneficiary of your IRA (or other retirement plan), the SIF will have the use of 100% of the proceeds.
Retained Life Estates
With a Retained Life Estate, you transfer a residence, vacation home, or farm to the SIF subject to a life estate. You continue to live on the property for life or a specified term, and remain responsible for taxes and upkeep. When your life estate ends, the property is passed to the SIF.
A simple way to increase your donation to Sons of Italy Foundation is to find out if your company has a matching-gift program.
Such programs typically match a percentage or sometimes all employee contributions to charitable organizations, making the employer a partner in their employees' personal philanthropy.
To institute a matching gift:
Obtain a matching-gift form from your employer, complete it, and provide it to the SIF with your contribution.
In some cases, a matching gift request must be made to your employer after you make your donation to the SIF. Kindly apprise us at the time you make your donation if you plan to request a matching gift.