Legacy Society

A Legacy Gift helps ensure the long-term existence of the SCCA Foundation and its programs.

Whether in tribute to a family member or creating a legacy for yourself, bequests make a lasting impact on a cause that’s important to you.

SCCA Foundation Legacy Society members have designated the Foundation as one of the beneficiaries of their estate.

Talk with the Foundation about your donation:
Call: 1-719-500-3232
Email: donations@SCCAFoundation.org

Gifts may include financial bequests, automobiles, property, stocks and other investments. Depending on the size and structure of your estate, your IRA accounts may be subject to both income and estate taxes. Designating the Foundation as an IRA beneficiary may be a tax-effective estate planning strategy as well.

Membership in the SCCA Foundation Legacy Society is for gifts anticipated to be $10,000 or more, and may be obtained by simply adding the SCCA Foundation as a beneficiary of your estate or eligible account, and notifying us in writing of your intent to do so. The amount of your intended gift may or may not be specified as you prefer. This pledge is an agreement in principle, but is not legally binding, in that you may modify your estate beneficiary designations at any time.

In considering a legacy gift to the SCCA Foundation, we encourage you to review the Donations Policy on our website explaining the mission and purpose of the SCCA Foundation, the types of donations we may accept as a 501(c)(3) organization, and the types of programs we can support.

SCROLL DOWN TO LEARN MORE ABOUT BENEFICIARY GIFTS.

Beneficiary Gifts

Name the SCCA Foundation
in your will

One of the easiest ways to make a planned gift is through a bequest in your will or trust specifying a gift to the SCCA Foundation, which can be for a specific dollar amount, a percentage of your estate, or a certain piece of property.

Model language for wills:

“I give, devise, and bequeath to the Sports Car Club of America Foundation, a nonprofit corporation existing under the laws of the state of Colorado, located in Topeka, Kansas (Federal Tax ID #74-2442065), ____% of my residuary estate [or the sum of $__________ ] to be used for its general objectives and purposes.”

Designate the SCCA Foundation as a beneficiary of an insurance policy

By naming the SCCA Foundation as the sole or partial beneficiary of your fully-paid life insurance policy, you may be able to avoid the estate tax on the proceeds.

Gifting Options Potential Tax Benefit
Donate an existing, paid-up policy Deduct the approximate cash surrender value
Purchase a new life insurance policy Deduct the premiums paid if the Foundation is the named owner
Give an existing policy on which you continue to make payments Deduct the approximate cash value and future premiums if policy ownership is assigned to the foundation
Name the Foundation as a beneficiary of a policy you already own Premiums are not deductible in this case since beneficiaries can be changed

Allocate a portion of retirement plan distributions

Appreciated stocks

You may make a significant planned gift by making the SCCA Foundation the beneficiary of a retirement account—IRA, 401(k), 403(b)—often by completing a one-page form available from your account provider. Retirement plans are among the most highly taxed assets one can hold.

Account holders aged 70½ or older who make a contribution directly from a traditional IRA to a qualified charity can donate up to $100,000 without it being considered a taxable distribution.

How you benefit: The deduction effectively lowers the donor's adjusted gross income. The funds remaining upon your death are not taxed and your loved ones have no hidden income tax liability. At age 73, the gift can satisfy all or part of your required minimum distribution.

Please contact us for more information about designating a retirement account distribution as a donation.

You can gift appreciated securities – publicly traded stocks, bonds, and mutual fund shares – to the Foundation while avoiding capital gains tax, diversifying your portfolio, and/or securing a stream of income. When you transfer appreciated securities to the Foundation, we sell them and use the proceeds to fund our programs.

How you benefit: You receive credit and an immediate income tax deduction for the fair market value. You avoid capital gains tax.

JOIN THE LEGACY SOCIETY

To join the SCCA Legacy Society, please complete the pledge form below or contact the foundation at info@sccafoundation.org or 719-500-3232.

Pledge for SCCA Foundation Legacy Society

It is my/our desire to provide a legacy of support to the SCCA Foundation. I/we hereby inform you that I/we have made a provision for a gift in my/our estate plans. I/we understand that this commitment is revocable and can be modified by me/us at any time.

I/we understand that, by stating an amount below, my/our estate is not legally bound by this statement. I/we may chose to add, subtract, or revoke this bequest at any time at my/our discretion. This pledge entitles me/us to be a member of the SCCA Foundation Legacy Society. I agree to have my/our name(s) published on lists of legacy society members as a motivation for others to leave a future gift to benefit SCCA Foundation. (The amount of your gift is not published and remains confidential.)