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WHY IS LEGACY GIVING IMPORTANT?
Legacy giving can benefit both nonprofits and donors. Donors who choose to participate in legacy giving can experience positives, such as:
- The ability to cement their legacy. Legacy giving ensures donors will be remembered for their generosity and commitment to our nonprofit’s purpose long after your passing.
- Tax breaks. Many wealthy donors join a legacy giving program both out of their commitment to their favorite nonprofit and the numerous tax benefits that participating can bring their families.
- Control over their donation’s use. With legacy giving, donors can add stipulations in their wills for how their gift will be used. This can help donors rest assured that their legacy will be preserved the way they would have wanted.
For the SOSA Foundation, LEGACY GIVING is an important revenue source because it:
- Adds an additional revenue source for organizations to secure their fiscal stability.
- Builds an endowment to provide an ongoing source of income each year in perpetuity.
- Strengthens other “asks” and deepens the connection with donors.
LET'S BREAK DOWN THE DIFFERENT TYPES OF LEGACY GIVING
BEQUESTS
Bequests are the most popular, simplest type of legacy giving. In your will, you will name what you want to give to SOSA Foundation, whether it’s a specific amount of funds, stocks, a piece of art, or even a percentage of the value of your estate. While we encourage you to create a will, we cannot participate in creating it.
LIFE INSURANCE When taking out a life insurance policy, you can name SOSA Foundation as one of your beneficiaries. If you currently have a life insurance policy you no longer need, you can also participate in legacy giving by donating your policy’s accumulated value to SOSA Foundation.
IRAs You
may be interested in joining a tax-deferred retirement plan. You can use this as a method to participate in our legacy giving program by either naming SOSA Foundation as a beneficiary or as a recipient of the percentage of the proceeds.
PEOPLE, PROJECTS and IDEAS FOCSUED ON HEALTH & WELLNESS, ENVIRONMENTAL SUSTAINABILITY, and CULTURAL UNITY FOR A BETTER WORLD.
With intent to open opportunities
and encourage positive thinking outside of established ideas and agencies, the
SOSA Foundation offers opportunities for funding and mentorship.
A review panel
of community leaders and Sosa family members considers proposals that reimagine
new and more effective ways to better others’ lives, equality, equity, and
representation.
Your support will provide
steady funding to SOSA Foundation programs and activities that are making a
real difference for people – locally, nationally, and globally.
General Operating support, program support, capacity building, and capital campaign requests will be considered.
We are creating
a community of people who are willing to make a difference, believe in the
goodness and ideas of others, and act on the world’s challenges, together.
When you
donate, you’ll be helping to fund programs that put people and communities
first through their reimagining of the what if’s and how do we do things
better.
Focusing on expanding economic opportunities, encouraging
disenfranchised individuals to lead and have an impacting voice, and
confronting and improving engagement, growth, and service.
Your tax-deductible gift
makes our work possible, and every gift matters. We invite you to give at a
level that’s best for you.
