There are numerous ways to give to support the mission of SOS Health Care. Options include giving now through current outright gifts or giving later through life insurance policies, bequests, etc. SOS Health Care is recognized by the Internal Revenue Service as a public charity. Consequently, donors are provided with the maximum tax benefits allowed by law.
Gifts of Cash
A cash gift is the simplest way to establish a named fund or add to an existing fund at SOS Heath Care. Cash gifts are fully deductible up to 50 percent of the donor’s adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five additional years. Cash gifts can currently be made with a check or wire transfer, or through the donate buttons on our website and Facebook.com/SOSHealthCareInc page.
A gift of real estate held more than one year can provide the federal tax advantages to the donor.
You can establish or add to your named fund in your will or trust through a bequest to SOS Health Care. You are encouraged to work with your lawyer or financial advisor to explore the many options we offer to help meet your charitable objectives and provide for beneficiaries.
Life Insurance Beneficiaries
Perhaps you would like to contribute the proceeds of a life insurance policy to SOS Health Care, but you are not ready to give up ownership of the policy. By naming SOS Health Care as beneficiary, you retain ownership of the policy and have access to the cash value as well as the right to change the beneficiary. This type of contribution allows you to give to your favorite charity, even if you don’t have the liquid assets right now. While you retain ownership of the policy, there is no charitable deduction for the value of the policy when you designate SOS Health Care as the beneficiary or for subsequent insurance premiums. However, any proceeds payable to SOS Health Care at your death will not be subject to federal estate taxes.
SOS Health Care, Inc. Endowment Fund
SOS has established the SOS Health Care, Inc. Endowment Fund. All funds will be invested with the Waccamaw Community Foundation in the Endowed: Long Term Pool. The performance of the investment strategies and the portfolio performance will be monitored and formally reviewed by the Finance Committee with the assistance of the selected investment organization/advisors. Monies contributed to this fund are used to support the Oak Tree Farm community and will provide a sustainable income stream for years to come.
For more information on any of these options, please email our Finance Manager at [email protected]