GIVING TO UMAR

In this day and age it may come as a small surprise – we will accept cash! If you send a gift of cash using either a check or money order, please indicate if there is a special designation on how you would like for your gift to be used. Also remember, if you send a postmarked gift by December 31 of the year, even though it is not yet in our hands, you will receive the charitable contribution in the year the gift was mailed. This is helpful in making final year-end tax preparations.

Please send all mailed gifts of cash to:

UMAR at
PO BOX 480291, Charlotte NC, 28269.

One of the safest, easiest, and fastest ways to make a gift to UMAR is through our secure online donation platform. Encrypted for your security, UMAR accepts donations made through all debit cards, as well as through all major credit cards. Remember, if your gift is submitted before midnight on December 31, your gift will be tax deductible in your year of contribution. This is another great way to make a last minute year-end gift adjustment to a worthy cause.

A unique way to gift to UMAR is through the donation of physical assets, such as vehicles, books, toiletry items, furniture, appliances, artist supplies, etc., that will help advance the mission of UMAR. UMAR welcomes items that are in good repair and those which are budget relieving in nature.

Here are some wish list items that would help UMAR:

• Paper towels
• Toilet paper
• Ziploc bags (any size)
• Canned goods
• Plastic cutlery
• Individually wrapped snacks
• Laundry detergent
• Art supplies
• Cleaning supplies

Gifts which are designated to a specific individual(s) are not considered tax-deductible by the IRS.

To inquire about making an in-kind donation, or to arrange a pickup, please call 704.659.7643.

Gifts of stocks, bonds, and mutual funds have a direct and immediate impact on UMAR and our mission. When assets are transferred to UMAR’s broker, they are immediately sold as we are not in the business of managing assets of this nature. Revenue generated from the sale of stocks, bonds, and mutual funds go immediately to offset existing needs.

As a donor, you will receive an immediate income tax deduction for your contribution based on the current value of the asset.

Steps to initiate your gift of stock to UMAR: 
1) To begin this process, please supply these Stock Gift Instructions to your broker.
2) The donor’s broker should contact Mr. Darren Morton, VP/Institutional Advisor at First Citizens Bank (704-338-4396) to inform him of the incoming gift.
3) The most commonly used transfer instructions can be found here: Stock Gift Instructions

 

Retirement-plan benefits left to heirs are more highly taxed than other assets. Consider giving them to UMAR instead to make a meaningful gift and leave other assets to heirs. Gifts can be made by naming UMAR as the beneficiary of a portion of or the whole retirement account (IRA, 401K, 403b, etc.). Withdrawals can continue to be made during your lifetime, and you can change the beneficiary at any time, if circumstances change. Income and estate tax on the remaining balance of your retirement plan will be avoided and by gifting your retirement account (the most-taxed asset of your estate) to UMAR, you can leave more favorably taxed property to your heirs. All that is required is to name “UMAR” as owner for a portion of all of your IRS qualified plan.

Gifts of real estate are another powerful way to make a positive contribution to UMAR. Gifting a home, vacation property, ranch or farmland, vacant land, or commercial property, is a great way to avoid paying capital gains tax on appreciated real property. To take advantage of this tax benefit consider donating your property to UMAR. Contact Andra Eason at 704.659.7624 for more information on making a contribution of real estate.

A great way to provide a gift to UMAR is through the gifting of a life insurance policy. Often times life insurance policies are purchased to provide for minor children who are now financially secure, independent adults. When a policy has outlasted its intended purpose it can be gifted to UMAR. Once donated to UMAR, we will hold the policy until it matures then we will cash the policy for the cash value.

This can also be used to provide tremendous resources for UMAR while protecting the amount of assets distributed to your family. Many individuals have large estates to be distributed among their heirs. By making UMAR the beneficiary of your life insurance policy, the estate is never touched, allowing family to receive the highest benefit while providing UMAR a generous donation.

Additional benefits include:

Income tax deduction

• If a policy matures in your lifetime, UMAR may surrender the policy for a cash payment allowing you to see first-hand your money at work.
• If UMAR retains the policy to maturity, you could receive additional taxable deductions by making annual gifts to offset to premium payments that UMAR will begin to make.
• If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds of your gift to further our charitable work.

How to make a gift of life insurance

To make a life insurance gift, contact your life insurance provider and request a change be made to your designated beneficiaries through their beneficiary designation form. Simply include UMAR as the beneficiary of your policy. It is that simple to make a huge impact.