The German Society of Pennsylvania - Gift Funds

 

Mission of the Society

The German Society of Pennsylvania (GSP) seeks to further the understanding of German and German-American contributions to the growth of American history, culture, and economic and technological innovations by selected industries, institutions or individuals from the past to the present and into the future.

Why should I consider a gift to the Society?

·         To help the Society meet its mission and provide funds to support its programs, activities and maintenance of the building.

·         To provide cultural experiences that promote the understanding of German and American cultures.

·         To help provide educational activities of the Society that serve not only its members, but also the community at large.

·         To preserve the Society’s book, art and archival collections and to make these broadly available to the public.

What are the German Society Gift Funds?

• Unrestricted Gift Fund:  Used to meet special needs and emergencies of the Society.
• Restricted Gifts:  Gifts and / or memorials given to the Society for a specific purpose.  It is possible that proceeds, either principal or interest, might become available to the Society over a longer time period. 
• Endowment Fund:  The vehicle by which a person or persons may provide major contributions, which will assist the ongoing and future work of the Society.
• Education and Scholarship Fund:  The current program is limited to grant scholarship to qualified students who are attending a university for the purpose of studying German either as a major or double major. 

Donations to the Society are generally considered tax-exempt.  The Endowment, and generally, the Restricted Funds are conservatively invested using a professional financial organization.  The four separate funds were collectively approved by the action of the Board of Directors of the German Society of Pennsylvania in September 2005.

The Endowment and the Restricted Funds may be held in trusts for the Society.  The Internal Revenue Service has determined trusts to be exempt from Federal Income Tax and tax-deductible under section 501 (a) of the Internal Revenue Code for organizations qualified under section 50l (c) 3.  The Society qualifies as a 501 (c) 3 organization.  Five trustees govern all trusts.  These are members of the Finance Committee and two members of the Society.  An investment firm manages the funds.  Meetings are held quarterly and investments are reviewed regularly.

Who can give to the GSP Gift Funds?

·         The German Society of Philadelphia Gift Funds accepts contributions from individuals, families, businesses and charitable foundations that wish to perpetuate the mission of the Society.

·         The GSP Gift Fund is an appropriate way to honor or memorialize persons who believe in the mission of the Society.

How may gifts be made to the GSP Gift Funds?

Gifts may be made to the all four funds at any time of the year. Some persons may wish to give periodically, such as monthly or annually.  Others may wish to contribute on a one-time basis.  The most common ways to give are:

• Cash or personal checks
• Stocks, bonds, certificates of deposit
• Appreciated assets and real estate
• Life insurance proceeds
• Donations through a last will, trusts and testaments

 

Gifts to the German Society Gift Funds should be mailed to the address shown.  Detailed procedures how these funds are managed are available from the Society.

 

Charitable gifts to a tax-exempt non-profit organization may offer a unique opportunity to provide income during the donor’s life and/or be an important part of a strategy to reduce estate taxes.  For more details, we urge you to call the Society, 215-627-2332, to discuss your specific situation.

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