When Phi Mu Foundation began to build a framework for the One Destiny Campaign nearly seven years ago, something that was foundational to the planning was offering an opportunity for every Phi Mu member to take part in the Campaign. Many members assume that in order to make a gift to Phi Mu Foundation, it must be an immediate cash gift, but that is not the only option. The Foundation provides a myriad giving opportunities that open up participating in the Campaign beyond a traditional contribution.
Take a look at some of the creative ways you can give to the One Destiny Campaign:
Estate gifts through provisions in a will or living trust are great ways to contribute to the One Destiny Campaign and allow you to leave a legacy that will create impact for years to come. When you document your planned gift with Phi Mu Foundation, you will also become a member of the esteemed Fidelity Society. It was established in 1992 to recognize women who made the commitment of perpetual support to Phi Mu through a planned gift. Members of the Fidelity Society are among our most loyal donors and are recognized at Foundation gatherings, in Foundation publications and at every Phi Mu National Convention.
One of the most flexible ways you can make a gift to the One Destiny Campaign is by making Phi Mu Foundation a beneficiary of your life insurance, IRA and/or retirement assets. Even after you complete the original beneficiary designation form, you are able to update beneficiary designees at any time.
A great way to multiply your generosity to the Foundation is to take advantage of your employer’s matching gifts program. Through these, businesses generously offer to match their employees, spouses and/or retirees’ charitable contributions. For example, if you make a $100 gift to Phi Mu Foundation and register it through your employer’s matching gifts program, they will also make a $100 gift to Phi Mu Foundation. This is a great way to double the impact of your charitable giving!
Gifts of appreciated stocks and mutual funds (owned for more than one year) can provide maximum charitable tax benefits to you and offer a financially sound and convenient method of support to Phi Mu Foundation. In fact, when you make a gift of appreciated stocks or mutual funds, it triggers a double tax benefit – you will receive a charitable tax deduction for the full fair market value and you may be eligible to avoid tax on the capital gain element.
A qualified charitable distribution is a withdrawal paid directly from your IRA to a qualifying charity. While income tax is normally due on each traditional IRA distribution, the account owner does not need to pay taxes on the amount transferred to charity. Annual withdrawals from traditional retirement accounts are required after age 70 1/2 and you may be eligible to avoid income tax on your required withdrawal by donating your money directly to a qualifying charity such as Phi Mu Foundation.
A donor-advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations. When you contribute cash, securities or other assets to a donor-advised fund, you are generally eligible to take an immediate tax deduction. Then, those funds can be invested for tax-free growth and you can recommend grants to virtually any IRS-qualified public charity, including Phi Mu Foundation.
A pledge to the One Destiny Campaign is a promise to fulfill a gift over time. The Foundation offers five-year pledge opportunities for members who would like either to schedule their gifts around a certain time of year when they have more financial flexibility or to create a monthly payment plan to reach a pledge.
If you’d like to talk more about the ways that you can give to the One Destiny Campaign, please contact Senior Director of Development Mandi Young (Florida State University) at email@example.com.