Game of Life Foundation is a nonprofit corporation under Section 501 (c) (3) of the Internal Revenue Code. Therefore, all contributions
made to the organization are fully tax deductible unless otherwise stated due to a technicality of the code, such as an entry fee
to one of our events. Often time only a portion of an entry fee may be deductible.
Since being hired in 1996, our director
has had an unsigned contract which stipulates contributed funds would be used as follows:
1. Meeting individual and community
needs
2. Program development
3. Ministry overhead
4. Compensation*
* Our director has agreed that no compensation is to be received
until all ministry obligations are met.
Country Club of Life: Our life and golf curriculums are continuously being updated and improved. Also, all program initiatives
are free for youth. Contributions are also used for our "Clubs for Kids" initiative.
Events: We are always looking for
sponsors for our events. These funds are used as follows:
1. Control the cost of events
2. Provide scholarships to participants
who are in need of fellow hip and who otherwise would miss the event
3. Ministry advancement
Planned Giving:
Typically,
a planned gift is one that will provide a charitable benefit to a designated charity at the donor’s death. The donor may receive a
charitable deduction immediately, but the charity will not receive any funds for its benefit until the donor passes away. Planned
giving describes a wide variety of giving vehicles that allow the donor to give to the charity during their lifetime and/or after
their death, while meeting their current income needs and providing for their heirs. The purpose of planned giving is to support the
charity in perpetuity (eternity).
Planned gifts can allow the donor to:
· Make a personally significant gift to the charity
· Save
on gift and estate taxes
· Reduce or avoid capital gains taxes
· Pass assets on to family members at reduced tax costs
· Possibility of
receiving income for life
Planned gifts are often thought of as ‘leaving a legacy’ because many are created to make an impact
for future generations. It is surprisingly easy to arrange a planned gift and many of the methods are quite straightforward.
However, more sophisticated gifts will require more care, guidance and counsel. The easiest way to include a charity in an estate
gift is through a will, (also referred to as a bequest). The two words can be used interchangeably.
The most popular gift options
typically used:
· Wills/Bequest
· Income-Producing Gifts *
· Retirement Plan Asset
· Life Insurance
· Real Estate
Gifts
We have been blessed by the guidance of Moriah Consulting, Inc. with a planned giving concept that can benefit both
our organization and the donor from day one. If you have IRA’s and would like to hear how you can still get the benefits of
your IRA’s and support our organization, click of the link above. A sizeable estate is not needed to participate.
See the
following links: