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Deferred Gifts

Deferred gifts are not available for use by Special Olympics immediately. Usually, they become available only after the death of the donor, or for certain trusts, after a period of years. Examples of such gifts include bequests, life income arrangements (gift annuities, charitable remainder trusts, charitable lead trusts, etc.) and life insurance. Deferred gift vehicles provide donors the opportunity to help ensure the future of our movement.
 
Bequests
This is the simplest way to make a planned gift to Special Olympics. A bequest can help you reduce the taxes to be paid on your estate, thus increasing the amount that will be paid to the loved ones named in your will. To establish a bequest, you can have the following language added as an addendum to your last will and testament:

"I give, devise, and bequeath to Special Olympics New York, a not-for-profit corporation established under the laws of the State of New York, in the City of Schenectady, State of New York the sum of $_______ to be used for the benefit of Special Olympics New York, in such manner as Special Olympics New York shall deem fit and proper."

You may also have your bequest stated as a percentage of your remaining estate after the settlement of all of your affairs. This can be worded as follows:

"I give, devise, and bequeath to Special Olympics New York, a not-for-profit corporation established under the laws of the State of New York, in the City of Schenectady, State of New York ______% of the rest, residue and remainder of my estate to be used for the benefit of Special Olympics New York, in such manner as Special Olympics New York shall deem fit and proper."

Charitable Gift Annuity
Charitable Gift Annuity is an agreement between you and Special Olympics New York. In exchange for your gift of cash or marketable securities, Special Olympics will pay you a fixed dollar amount each quarter for the rest of your life and/or the life of a loved one. You will also receive a charitable tax deduction for setting up the annuity. The amount of your payments will be determined by the size of your gift, and your age (and that of your loved one if two lives are used) at the time of the agreement. A portion of the payment you receive will be tax free, and if you don't need the income today, you can choose to defer receiving it until a later date, and get a higher payout amount and a larger tax deduction.

Charitable Remainder Trust
A charitable remainder trust is established to transfer ownership and management of cash and/or marketable securities to Special Olympics New York. In exchange, the trust will make lifetime payments to you and/or a loved. You will also receive a charitable tax deduction for establishing the trust. There are two types of charitable trusts that you can set up with Special Olympics: An Annuity Trust which will pay you a fixed dollar amount for your life and/or that of your loved one, and a Unitrust where your payments are calculated at the beginning of each year for the coming year, based on the value of the trust investments at year-end. By recalculating the amount of the payments each year, a unitrust provides an effective hedge against future inflation on the payments you will receive.

None of this material is intended to constitute legal or tax advice. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained.

Federal tax-exempt number: 23-7061382

Benefits of Donation | Gifts of Stock | Matching Gifts | Memorials & Salutes | Planned Giving
Deferred Gifts | Join a Fund-raiser | Corporate Sponsorships