1. Who will manage my donations?
  2. The expanded German Society Finance Committee, which includes two elected member representatives, manages Designated Use funds; The Philadelphia Foundation manages the Endowment Funds.
  1. How often will investments be reviewed?
  2. At least quarterly. Investments will be managed conservatively, and professional managers will be used as warranted.
  1. Who provides oversight for these programs and what reports / information will be given to the membership?
  2. The Board receives detailed information at each meeting, and we expect to provide summary information to the full membership at least once per year.
  1. Can I designate my gift for a specific cause or project?
  2. Yes, provided it fits within the mission of the Society and scope of current or planned activities.
  1. If the project takes a number of years to complete, what will happen to my designated donation?
  2. Funds will be kept in a reserve account, such as a Vanguard or Fidelity account, and used as the project proceeds and funds are required.
  1. Will I still be asked to make a donation to the annual fund drive?
  2. Yes. We will use our annual fund drive to help cover yearly operating expenses, and this drive will remain very important to the Society’s financial well-being.
  1. Is my donation tax deductible?
  2. Yes. Since your donations benefit our Society, a 501 (c) 3 organization, your contributions are generally tax deductible under IRS provisions as long as you itemize your deductions.
  1. Will my non-restricted donation be used to meet current expenses or operational needs?
  2. Possibly, but most of the funds will be directed towards major initiatives or capital projects.
  1. I would like to make a larger donation, but need some income stream to meet current expenses. Can this be done?
  2. Yes. For the endowment donations, The Philadelphia Foundation offers charitable Gift Annuities; for other purposes we recommend the Fidelity Pooled Income Fund, which has been designed to meet this purpose.

Is a Charitable Gift Annuity offered by Society?
Yes, through The Philadelphia Foundation

  1. My father left me shares of stock in a well-known company. Can this be used for a donation?
  2. Yes. These shares are an excellent donation, especially since there should be a significant tax saving available to you when they represent stocks that have greatly appreciated in value. (The Society receives the shares at current market value and your tax benefit is calculated on that basis).
  1. Can I use funds in my IRA account to make donations to Society? 

  2. Yes. In fact such donations will offer significant tax savings to you, and the Society will receive these funds at current market value.
  1. Can I list the Society a beneficiary in my will, or trust? 

  2. Yes, and it is a great way to make donations or honor someone in your family.
  1. Can I list the Society as the beneficiary of my life insurance? 

  2. Yes. This is another excellent vehicle, especially for insurance policies that are no longer needed to meet possible family emergencies.
  1. Can I establish an endowment in honor of my wife to benefit German language students at the high school or college level? Can I sponsor a lecture series, a music program or other activities of interest to the Society?
  2. Yes. A number of possibilities come to mind. We suggest you contact the Society to discuss various options.
  1. We have been very fortunate in life. Can we establish a Charitable Remainder Trust (CRT)?
    Yes. These can be complex and are typically prepared by your personal lawyer. A bank, an insurance company, or an investment firm would manage the trust, prepare tax returns and pay you a monthly annuity. The Society would receive any residual assets upon your death. Again, we suggest you contact the Society to discuss various options. CRT’s can be complicated to arrange and administer and for this reason, this option may be feasible only for major donations.
  1. Could we consider a Charitable Lead Trust (CLT)?
  2. Under this option, the assets are returned to a designated beneficiary upon death. A lawyer usually drafts key documents, and also functions as trustee. The Society receives an income stream from the trust, but never receives the assets. Again, we suggest you discuss this possibility with the Society.
  1. We would like to consolidate our charitable giving and give us the flexibility to make routine donations to the Society. How might this work?
  2. Donor-Advised Funds or Charitable Gift Funds are available from The Philadelphia Foundation, Vanguard, Fidelity and other institutions and these are designed to give you the flexibility you may desire. Once you have established such a fund, all you have to do is to designate the Society as the beneficiary of any donations from the fund.
  1. May we donate appreciated assets? 

  2. Yes. The Society will work with most appreciated assets, real estate or other assets. For more detailed guidance contact the Society.
  1. Can the Society be a beneficiary of retirement or pension benefits? 

  2. Yes. You can designate the Society as a beneficiary of pension or retirement payments.
  1. What happens to any unused funds or commitments by the Society, should the Society close its doors and go out of business?
  2. We hope this would never happen. However, if it does happen, any unused funds or commitments made to the Society would transfer to a successor non-profit organization with a mission similar that of the German Society of Pennsylvania. Preference will be given to organizations in the surrounding states.