The Two Decisions of Giving
Charitable giving is a very personal matter and can take many forms. While your gift is incredibly important to U.S. Figure Skating, we want to make sure your contribution fulfills your wishes as well. U.S. Figure Skating offers a variety of ways to supports its athletes and programs because we want you to be truly satisfied with your giving decision:
Unrestricted Gifts are the broadest and most useful gift to U.S. Figure Skating. Being 'unrestricted' means that U.S. Figure Skating can decide how your gift is best used to support the organization. To make this kind of gift, you need only write the word "unrestricted" on the memo line of your check or type "unrestricted" in the online donation form.
Restricted Gifts direct your donation in several ways, specifying them the program, club or discipline of your choice. To restrict your gift, indicate the restriction on the memo line of your check or in the online donation form if you do not see your preference listed below. Your gift will be placed into the area that matches the restriction you have indicated. How can you restrict your gift?
1. Support a specific program (e.g. "Basic Skills" or "Elite Athletes")
2. Support a specific use (e.g. "athlete scholarships" or "World Team travel expenses")
3. Support an existing fund (e.g. "collegiate skaters" or "Mozer Matching Gift Fund")
*Existing funds benefit specific areas of U.S. Figure Skating. To find out if there is a fund already established for your interest, please contact U.S. Figure Skating at 719.635.5200.
4. Establish a new fund (e.g. "The Joyce Komperda Athlete Support Fund")
*Funds may be established in your or someone else's name, or specific purposes not already maintained by U.S. Figure Skating. A fund may be established with a minimum gift of $25,000. If you are interested in establishing a fund, please call U.S. Figure Skating at 719.635.5200.
When deciding on the restrictions for a new fund, you may find the following options helpful:
Endowments for any purpose - restricted or unrestricted - may be created with a minimum gift of $25,000. They may be established to support a particular skating discipline, as an annual award for competition placement, or as a scholarship for U.S. Figure Skating members. A reoccurring annual gift is required if you wish distributions to be made immediately while the fund generates earnings toward future distributions.
Scholarships or Awards requires an endowment gift of $25,000 minimum, the specific requirements of which can be discussed with U.S. Figure Skating when establishing the fund.
Named Program Funds may be established within individual programs (e.g. "Elaine Theisen Fund for Therapeutic Skating"). A $25,000 endowment is required and must be funded with one gift. A reoccurring annual gift is required if you wish distributions to be made immediately while the fund generates earnings toward future distributions.
Once you have decided where to apply your donation, the second decision of giving comes in deciding what form or mechanism your gift will take. How can you give?
Cash donations, including checks and credit card payments may be made online, in person or through the mail.
Stocks, bonds or other securities can be transferred as gifts, the net proceeds of which will be used by U.S. Figure Skating for your specified purpose.
Bequests allow you to grant a portion of your estate to U.S Figure Skating upon your death and can be used in a fund or restriction you have created.
Revocable Living Trusts allows the establishment of a trust to be used for the benefit U.S. Figure Skating upon your death. The portion of your assets placed into this trust can be restricted or placed into fund(s) you have identified.
Life Estate Agreements designate your home to be donated to U.S. Figure Skating, granting you the right to live in the home until your death. Upon your death, U.S. Figure Skating will sell the home and designate the proceeds according the restriction or fund(s) you have identified.
Life Insurance policies allow you to buy a policy and donate it to U.S. Figure Skating. The policy is held until your death, at which point the proceeds will be designated according to the restriction or fund(s) you have identified. Alternatively, you can name U.S. Figure Skating as the beneficiary of an existing policy. Upon your death, the same procedure as a donated policy would occur.
Real Estate or Tangible Personal Property donations include art, antiques and figure skating artifacts. Once donated, such gifts will be sold by U.S. Figure Skating, the proceeds of which will be designated according to the restriction or fund(s) you have identified. Items may also be donated to the U.S. Figure Skating Museum.
Though other mechanism of giving exist, these are the most popular within U.S. Figure Skating. Please consult a tax professional to explore which method may give you greater tax benefits. For our tax ID number, please contact U.S. Figure Skating at 719.635.5200.