Become a Take Stock in Children Philanthropist
Take Stock in Children is more than a rewarding opportunity to provide an education for a child. It’s an opportunity to change deserving low-income youth/students lives forever. Become a donor and help break the cycle of poverty and high drop-out rates in your community.
Your donation to Take Stock in Children will provide a child with the promise of a college scholarship, the guidance of a caring mentor, and a sustainable outcome of success. Students in the Take Stock in Children program receive:
- A fully paid college tuition scholarship
- A volunteer mentor who meets the child at his or her school for an hour a week to provide academic support and motivation
- Continuous assistance and intervention services by a skilled student advocate (case manager)
- The active engagement of parents or legal guardians in the child’s academic and personal development
- Career and educational counseling
An economically viable community includes a successful and educated workforce. Recognizing the importance of this, Take Stock in Children’s corporate partners have made a commitment to excellence in education and eradicating the cycle of poverty. Corporate sponsors provide in-kind services, mentors, financial support, and many cross-promotional opportunities. Companies can match donations given or raised by employees in addition to their corporate contributions.
Take Stock in Children offers the opportunity to provide a child with an education and hope for a future of success. Tax deductible donations by individuals provide valuable resources to children in need.
Leading businesses and foundations are recognizing Take Stock in Children as a valuable solution to the problems of high crime rates, high drop-out rates, poverty and academic failure. We are seeking foundations to invest in Take Stock in Children and be a part of the proven solution. This continuous financial support enables Take Stock in Children to help even more deserving children attain academic and personal success.
“Offset 2010 Tax Liability through Charitable Giving”
FROM THE CHRONICLE OF PHILANTHROPY
“Fund raisers who solicit large gifts need to become knowledgeable about the charitable aspects of a law that allows people to convert their regular individual retirement accounts into Roth IRAs this year”, says Robert F. Sharpe, a Memphis planned-giving consultant.
Regular IRAs grow tax free until withdrawals are made. But Roth IRAs are created with after-tax assets: That means people can use Roth IRAs to set aside money to tap into tax free at a later date–or pass along those assets tax free to heirs, an attractive option for many wealthy individuals.
Starting this year, people whose incomes were too high to qualify for Roth IRAs in the past can now take advantage of them. But anyone shifting money from a traditional to a Roth IRA must pay taxes on the money. This year alone, they have the option of spreading the taxes between 2011 and 2012.
“Charitable giving can help offset some of that tax liability”, notes Mr. Sharpe. He points to a recent New York Times article that provides an illustration of how a donor who shifts $100,000 into a Roth IRA can save 16 percent of the $35,000 he would owe in taxes by using some of the money to set up a charitable gift annuity.
Not only would the arrangement provide the donor’s heirs with nearly $75,000 tax free at his or her death; it would also provide a small income stream to the donor during his or her lifetime. And money left over in the annuity, an estimated $42,000, would go to a charity of the donor’s choosing.
“Donors are going to be reading about this idea and calling development officers who don’t have a clue in many cases,” says Mr. Sharpe. That, he says, could hurt them when competing with nonprofit groups that are prepared to work on gifts related to Roth IRA conversions.
Institutions that are prepared, Mr. Sharpe notes, include Cornell University and the Cleveland Clinic. Both are using their Web sites and other communications to tell donors how charitable gifts might enhance their ability to save taxes on Roth IRA conversions.