Gifts That Cost You Nothing Now


Gifts That Cost You Nothing Now

Simply by signing your name, you can create a legacy of helping small businesses thrive for years to come. When you include The SCORE Foundation in your estate plans, you inspire more small business owners to succeed, keeping the spirit of entrepreneurship alive for generations to come.

Once your family and friends are provided for, we hope you’ll consider making achievement and success part of your life story through your legacy gift.

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Making a legacy gift in your will or trust is one of the easiest ways and most popular ways to support SCORE through The SCORE Foundation.

Here are the ways that most people make this lasting gift for The SCORE Foundation:

General bequest:

The SCORE Foundation receives a legacy gift in your will or living trust, usually personal property
or assets.

Residual bequest:

The SCORE Foundation receives a percentage of the remainder of your estate after other specific legacies have been fulfilled.

Specific bequest:

The SCORE Foundation receives a specific dollar amount or stated fraction of your estate or a specified gift in kind (collections, art, books, jewelry, and so on).

View Sample Language for a Will


Please contact Resa Kierstein, Vice President of Business Development, SCORE Foundation, at resa.kierstein@score.org or 703-487-3661 if you have any questions.

When you make a gift to The SCORE Foundation from your retirement plan, insurance plan, or other assets, you ensure that generations of entrepreneurs and small business owners will benefit from the services of SCORE.

It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to
fill out.

Retirement Plan Gift:

Many people choose to name The SCORE Foundation as a beneficiary of a retirement plan to reduce their taxes and help small businesses succeed.

Benefits:

  • Avoid potential estate tax on retirement assets.
  • Avoid income tax for your heirs on retirement assets funded on a pre-tax basis.
  • Receive potential estate tax savings from an estate tax deduction.

To name The SCORE Foundation as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.

Life Insurance Plan Gift:

If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift for The SCORE Foundation.

Benefits:

  • Receive a charitable income tax deduction.
  • Receive additional tax deductions by making annual gifts so that we can pay the premiums if The SCORE Foundation retains the policy to maturity.
  • See firsthand how your gift supports our charitable work if The SCORE Foundation cashes in the policy.
  • Further the work of The SCORE Foundation. 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 The SCORE Foundation.

Savings Bonds:

If you have bonds that have stopped earning interest and that you plan to redeem, you will owe income tax on the appreciation. Leaving them to loved ones means they will owe income tax and potentially estate taxes. In the end, your heirs will receive only a fraction of the value of the bonds in which you so carefully invested. Since The SCORE Foundation is tax exempt, naming us as a beneficiary ensures that 100 percent of your gift will go toward furthering entrepreneurship in America.

CDs, Bank Accounts, and Brokerage Accounts:

One of the easiest ways to leave a legacy gift for The SCORE Foundation is to name us as a beneficiary of a certificate of deposit, a checking or savings account, or brokerage account.

Donor Advised Fund Residuals:

Final distribution of contributions remaining in a Donor Advised Fund is governed by the contract you completed when you created your fund. We hope you will consider naming The SCORE Foundation as a “successor” of your account or a portion of your account value.


Please contact Resa Kierstein, Vice President of Business Development, SCORE Foundation, at resa.kierstein@score.org or 703-487-3661 if you have any questions.