Giving

The value of your gift is invaluable.

Outright Gifts

Everyone has the potential to make an impact on a non-profit organization. Gifts to charity are one of the best tax-saving opportunities that also generously benefit an organization. Sitrin offers a variety of opportunities for donors to positively contribute to its residents, patients, and program participants through giving.

An outright gift is one that is directly given by a donor to Sitrin. There are several ways in which you can make charitable gifts, including cash, securities, real estate, and matching gifts.

Gifts can be donated outright during your lifetime, providing tax advantages through the charitable donations tax deduction. Or, gifts may be left as part of your estate, as outlined in a will or trust, offering possible estate tax deductions.

CASH

For some, the preferred way to support Sitrin is a simple cash gift. Gifts can be made with checks, credit/debit cards, or payroll deductions, which can help you keep a record of your donations. All cash gifts are tax deductible and deeply appreciated.

SECURITIES

Stocks, bonds, and mutual funds can be one the most valuable assets you own. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction by donating to Sitrin.

REAL ESTATE

A generous gift of real estate enables Sitrin to continue its work for years to come. Real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation. Additionally, transferring commercial property, a residence, or other real estate holdings to Sitrin alleviates you of dealing with the property’s maintenance costs, property taxes, or insurance.

MATCHING GIFTS

Matching gifts refer to business giving programs that essentially double a person’s donation to a non-profit. Many companies have created matching gift programs to give back to organizations, while also encouraging employee philanthropy. The primary benefit is giving extra revenue to the non-profit, increasing your donation by at least a 2:1 ratio. Check to see if your company may double your contribution to Sitrin.

  • For some, the preferred way to support Sitrin is a simple cash gift. Gifts can be made with a check or credit card. All gifts are tax deductible and deeply appreciated.

  • Stocks, bonds, and mutual funds can be the most valuable assets you own. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.

  • A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation. You may transfer commercial property, a residence, or other real estate holdings to Sitrin.

  • Your company may double your contribution to Sitrin.

Planned Giving

One significant way to leave your legacy is to establish a planned gift to Sitrin that lasts well beyond your lifetime.
Planned gifts, sometimes called deferred gifts, are charitable giving methods that allow you to express your personal values by integrating your altruistic, family, and financial goals. Some planned gifts provide income to a donor, while others use estate or tax planning for charity and heirs in a way that maximizes the gift.

Planned gifts refer to specific strategies that benefit Sitrin at some point in the future, while offering immediate benefits to you. These can include charitable trusts, bequests, annuities, and retirement plans.

The gift of a paid-up life insurance policy is a good example of a planned gift. By designating Sitrin as owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.

CHARITABLE REMAINDER TRUST (CRT)

The Charitable Remainder Trust (CRT) is a significantly versatile charitable giving tool. With the CRT, you can fulfill your philanthropic goals, while also bypassing capital gains tax on highly appreciated assets, receiving tax deductions, and increasing your income. The CRT is a legal trust that can be constructed to produce a predictable annuity payment each year or take advantage of investment growth opportunities with income payments based on a growing trust principal.

CHARITABLE LEAD TRUST (CLT)

The Charitable Lead Trust (CLT) is the opposite of a CRT in that assets are irrevocably placed in a trust, and Sitrin receives income for a period of years. You, or your heirs, receive the assets after the term. While there are usually no income tax deductions, a CLT can allow you to make a significant gift to charity and transfer assets to family members with reduced or eliminated gift and estate taxes.

CHARITABLE BEQUEST

A Charitable Bequest makes it possible for you to make your wishes known today without relinquishing needed assets during your lifetime. With bequests, you can transfer a specific asset or donate a percentage of your estate to Sitrin after costs and taxes.
RETIREMENT PLANS
Naming Sitrin as a beneficiary of an IRA, 401(k) or 403(b) can help you reduce taxes, while also significantly contributing to the programs and services of Sitrin.

CHARITABLE GIFT ANNUITY

Benevolent individuals who want to support Sitrin may also be concerned about having enough income to retire or to provide to a loved one in need. A charitable gift annuity makes it possible to give a monetary gift that actually increases a donor’s current or future income, while also supporting Sitrin.

Sitrin has partnered with The Community Foundation of Herkimer and Oneida Counties in a charitable gift annuity program. In exchange for a gift of $10,000 or more, The Community Foundation provides annuity payments back to one or two people for life, a portion of which is tax-free. When the annuity matures, the remaining principal is used to benefit Sitrin.

Individuals may also contribute highly appreciated securities for their charitable gift annuity.

For a custom proposal to review at no cost or commitment, contact Marc DePerno, Vice President, Sitrin Foundation, at mdeperno@sitrin.com.

The Community Foundation provides a wealth of information about the charitable gift annuity on its website.

  • The Charitable Remainder Trust (CRT) is perhaps the most versatile charitable giving tool. With the CRT, it is possible to bypass capital gains tax on the sale of highly appreciated assets, generate an increase in income, receive an attractive charitable income tax deduction, and fulfill your philanthropic objectives. The CRT is a legal trust that can be constructed to produce a predictable annuity payment each year or take advantage of investment growth opportunities with income payments based on a growing trust principal.

  • The Charitable Lead Trust (CRT) is the opposite of a CRT in that assets are irrevocably placed in a trust, and the Foundation receives income for a period of years. You, or your heirs, receive the assets after the term. While there are usually no income tax deductions, a CLT can allow you to make a significant gift to charity and transfer assets to family members with reduced or eliminated gift and estate taxes.

  • A Charitable Bequest makes it possible for you to make your wishes known today without relinquishing needed assets during your lifetime. Bequests can transfer a specific asset. You can also give a percentage of the estate after costs and taxes.

  • Retirement plans – Naming Sitrin as a beneficiary of an IRA, 401(k) or 403(b) can reduce taxes, and result in a significant gift to Sitrin.

Annual Giving

Sitrin’s tradition of innovation, compassion, and excellence spans more than half a century, and is the foundation for future growth. If you, your loved ones, or those close to you have benefited from quality care or achievement at Sitrin, you have a special reason to join the annual giving program.

Annual giving allows Sitrin to build and continue initiatives in health, wellness, and empowerment. Being a part of the giving program fosters a sense of community among supporters.

You can make an immediate impact on the day-to-day operations of Sitrin, while continually and positively contributing to people’s lives. The act of giving is far more important than the amount given.

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