Frequently Asked Questions
Your gift to the Women's Sports Foundation will provide direct support for advocacy and education programs, promote the positive development of young girls through sports and continue to build a powerful legacy for the future of the Foundation.
What are the kinds of gifts I can give to the Women's Sports Foundation?
Generally speaking, during your lifetime you can make an outright gift of cash, securities or other property (e.g., real estate, personal property). Upon your death you can make a gift through your will or revocable trust, or through a distribution from a retirement plan or life insurance policy. You also have the option of making a gift that returns lifetime payments to you, your spouse, or other individuals, such as a charitable gift annuity or charitable remainder trust.
Are there tax benefits to Planned Giving?
Yes. Tax laws intentionally encourage charitable giving. There are numerous tax benefits to planned giving though they vary on a case to case basis. The Women's Sports Foundation encourages all individuals considering a bequest to the Foundation to obtain legal council or expert advice. The Foundation assumes no responsibility related to that advice or decisions made by donors.
What sort of assets can I use to make a gift?
Almost anything: cash, publicly traded securities, the balance in your retirement account. Other assets can be very valuable but are more complicated to administer and must be reviewed by us before we can accept them as gifts: real estate, closely held stock and artwork.
What tax deduction will I receive for my gift?
It depends on the form your gift takes:
- Outright gifts to the Women's Sports Foundation generate a full income-tax charitable deduction. Outright gifts of appreciated securities are deductible at fair market value, with no recognition of capital gains - a great tax benefit!
- Gifts of personal property, like art, books and collectibles, are fully deductible so long as they are relevant to our mission. We can advise you on this point.
- Bequests do not generate a lifetime income tax deduction. They are exempt from estate tax, however.
- Similarly, life insurance distributions to the Women's Sports Foundation are not income-tax deductible, but are exempt from estate tax.
- A lifetime gift of an insurance policy to the Women's Sports Foundation generates a deduction for the value of the policy. If you give a policy with premiums still owing, you may also deduct annual gifts that offset our premium payments .
- The charitable deduction for a gift that makes payments to you, such as a charitable gift annuity or a charitable remainder trust, is the fair market value of the gift asset minus the present value of the income interest you retain.
I'd like to donate a painting. Will you determine its value for my income tax deduction?
No, we can't. The IRS requires that donors of artwork and collectibles secure an independent appraisal of the items to establish fair market value. The appraisal has to be related to the gift, too - an insurance appraisal won't suffice. We can assist you on this point.
If I create a bequest or life-income gift, will the Women's Sports Foundation continue to ask me for annual contributions?
We will, because the commitments address two different needs. Your planned gift is a significant addition to our long-term financial strength -- our ability to meet the challenges and opportunities the future will bring. The obligations and expenses that we encounter today, however, are met through your annual gift. We are very grateful that you want the Women's Sports Foundation to succeed both today and in the future.