Planned Giving: Frequently Asked Questions
1. How do I leave a bequest to the USO Northwest? Thank you for your interest in leaving a legacy gift in support of America’s service members and their families. All you need to do is to name the USO Northwest in your will as a beneficiary. Please include the organization’s legal name and address, as follows:
USO Northwest
17801 International Blvd, PMB #313
Seattle, WA 98158
Sample Bequest Language for a Gift to the USO Northwest:
Specific Bequest: I give, devise, and bequeath to the USO Northwest the sum of $____ [or ___ percentage of my estate] [or the following specified property _______________].
Residual Bequest: My estate will pay all debts, taxes, and specific bequests. I give, devise, and bequeath the remaining amount, the residue, to the USO Northwest.
Contingent Bequest: In the event that [insert name of beneficiary] predeceases me, I give, devise, and bequeath his/her bequest or share to the USO Northwest.
2. What is the USO Northwest’s tax ID number? 13-1610451
3. Is the USO Northwest a tax-exempt charitable organization? Yes. The Internal Revenue Service has determined that the USO Northwest is an exempt organization under section 501©(3) of the Internal Revenue Code.
4. What is meant by a planned gift? A planned gift is a deferred gift. In making a planned gift, a donor decides to give at some future date, years from now or after the donor has passed away. Planned gifts are usually drawn from assets in your estate and are made upon your passing.
5. Does the USO Northwest recognize donors who make planned gifts? Yes! The USO Northwest Patriot Society recognizes those individuals who make a contribution through a bequest, trust agreement, or other estate plan arrangement to support the USO Northwest’s mission. USO Northwest Patriot Society members also receive benefits for their contribution, which include:
Recognition on the USO Northwest’s website
Recognition in USO Northwest’s annual report
A unique, one-of-a-kind, USO Northwest Patriot Society Challenge Coin
Exclusive invitation to a special USO Northwest events
6. How do I become a member of the Patriot Society or inform the USO Northwest of my planned gift? You can join the USO Northwest Patriot Society by mailing us a copy of your estate planning paperwork, or the USO Northwest Patriot Society pledge form, to our address:
USO Northwest
17801 International Blvd, PMB #313
Seattle, WA 98158
7. What tax deduction will I receive for my gift? Your tax benefits will depend on several factors, including: the type of gift, the time at which it is made, and whether it is outright or deferred, or has any income payments. In general, though, here are some guidelines:
Outright gifts to generate a full income-tax charitable deduction. Outright gifts of appreciated securities are deductible at fair market value, with no recognition of capital gains — a great tax benefit.
Gifts of personal property, such as art, books, and collectibles, are fully deductible as long as they are relevant to the USO Northwest’s mission. Please contact us for further guidance on this point.
Bequests are exempt from estate tax.
Life insurance distributions are not income-tax deductible, but are exempt from estate tax. If you have made the USO Northwest the irrevocable owner and beneficiary of a policy during your lifetime, then you may deduct annual gifts that offset premium payments.
Transferring qualified retirement plans such as an IRA, 401(k), 403(b), or Keogh to the USO Northwest allows individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. However, after a person’s death, these accounts are often exposed to income and estate taxes. Your estate and heirs will pay the tax at some point, unless the accounts are contributed to charity. By giving retirement assets to the USO Northwest, you receive double benefits: Your estate and heirs will not be taxed on the portion that goes to charity, and you will support the USO Northwest.
8. Do I need to specify a precise amount to be left to the USO Northwest? You may specify a certain sum, or a percentage of your estate, or a description of the property you wish to give. If you make specific bequests to family members and/or friends, you may prefer to leave the USO Northwest a percentage of the residue of your estate.
9. Can I support a specific USO Northwest program with my bequest? The USO Northwest honors a donor’s stated intent for the use of a gift. You may choose to support one of USO Northwest’s programs or services in your bequest. However, because USO Northwest’s programs change over time to meet the evolving needs of service members and military families, we recommend that you consider making an unrestricted gift, which can be used by the USO Northwest where need is greatest.
10. Do you accept stock, artwork, antiques, or other appreciated assets? Yes. Generous donors have also bequeathed to the USO Northwest jewelry, houses and other real property. For more information, contact Tim Bogle at 206-719-5662 or tbogle@uso.org
11. Can I bequeath funds from a retirement account or an investment account? Yes. Please cite the USO Northwest’s legal name and address, as follows:
USO Northwest
17801 International Blvd, PMB #313
Seattle, WA 98158
12. How can I make a planned gift in memory or in honor of a loved one? You may include this request in your bequest.
13. Does the USO Northwest offer estate-planning advice? Unfortunately, we do not offer estate-planning advice. For such advice, please consult an attorney or financial planning professional.
14. Can I include the USO Northwest as a beneficiary of my trust? Yes. Please cite the USO Northwest’s legal name and address, as follows:
USO Northwest
17801 International Blvd, PMB #313
Seattle, WA 98158
15. Who should I contact at USO Northwest if I have questions about making a planned gift to the USO Northwest? Contact Donald Leingang 206-719-5662 or dleingang@uso.org