As the Greek America Foundation, an NYC-based 501(c)3 non-profit, grows and improves over the upcoming years, we will continue to carefully steward our resources and partnerships. Only YOU can make our work possible, and we encourage you to take part in our planned giving program. By taking part in this endeavor, you are helping to promote, preserve and perpetuate Greek culture, history and ideals — for future generations.
Click here to learn more about the impact of your tax-deductible contribution
The key to our past accomplishments, current successes — and our promising future —is YOUR generous support as a member, donor or volunteer.
Greek heritage and ideals transcend beyond the stereotypes of baklava and breaking plates. Philanthropy, the pursuit of excellence and innovation — ideals such as these are core components of Greek existence. By promoting and preserving these values, we guarantee their survival — not only now, but in perpetuity.
Your donations via a planned gift are deposited into our endowment fund which sustains our critical programs. Our fund is managed by Vios Advisors at Rockefeller CapitalManagement. Vios Advisors is a multi-generational and bi-coastal private wealth management practice known for integrity and transparency. With offices in New YorkCity and Salt Lake City, Vios Advisors is an eight-person team who collectively manages approximately $1.2 billion assets under management.
When Gregory C. Pappas founded the Greek America Foundation in 1997, he could not have foreseen the tremendous impact that the organization would have over the ensuing decades. Your planned gift to the Greek America Foundation will impact countless lives of people in our community — and it does not require a large income or vast estate. Legacy giving only requires a thoughtful intention to make a difference by identifying the Greek America Foundation in your will or estate plan.
Those who remember the Greek America Foundation through a will, trust, designation or other planned gift are invited to join Greek America’s Legacy Society. Too often, these gifts go unrecognized because we are unaware of these special gifts until the donor has passed away. Greek America’s Legacy Society provides a way to recognize and thank donors during their lifetimes, ensure that your wishes are properly documented.
Involvement in the society gives you the opportunity to enjoy the company of others who, like yourself, care about leaving a legacy to help sustain Greek culture and ideals in North America.
You may choose to remain anonymous in your philanthropy. But participation in our Legacy Society can be an inspirational experience and may encourage others to look toward the future and how they too may have an enduring impact on such causes.
Only a statement of intent to leave a gift to the Greek America Foundation is required. No documentation of gift amount or type is necessary. Greek America’s Legacy Society members may designate the use of the distributions from their future gifts, or may leave the distributions to the discretion of our Board of Directors. Your planned gift may be used to establish a new fund or may be added to any of the Greek America Foundation’s existing funds.
Greek immigrants came to America to plant their families on American soil and seek for improved livelihoods. More than a century later, we are grateful and indebted to their sacrifice — and committed to preserving their culture and ideals. Legacy giving offers us a way to demonstrate gratitude to these forbearers — and love for future generations.
Benefits of joining Greek America’s Legacy Society include: A role in determining how your legacy gift will be used, and how it can encourage others; satisfaction in knowing your legacy will help transform countless lives and preserve Greek heritage and ideals in America in perpetuity; special recognition in newsletters and annual reports, unless anonymity is desired. Invitation to Biannual Board Member Retreats and other special donor events and reduction of your tax burden during your lifetime (depending upon your planned gift).
Annual IRA Gift
Each calendar year, you can reduce your taxes by making a gift from your IRA. If you are 70 1/2 or older you can contribute up to $100,000 annually. Your contribution will count towards your annual required minimum withdrawal.
Cash gifts are the most common form of charitable gifts because they are simple and easy to deliver and may result in a charitable tax deduction for the year given. You can choose to make a one-time cash gift and/or fulfill pledges on an annual, semi-annual or quarterly basis.
Employer Matching Gifts
Many employers match their employees’ gifts to charities. Please check with your employer. This may be a way to double or even triple your contribution. The Greek America Foundation’s non profit tax ID # is: 81-1672793.
The Greek America Foundation accepts stocks or other securities as donations. By contributing a long-term appreciated stock or other security you may avoid capital gains taxes while taking a charitable deduction.
Tributes and Memorials
These gifts are a great way to honor and pay tribute to an individual or celebrate an occasion, such as an anniversary, birthday or new family member. The Greek America Foundation Foundation informs the honoree (or their family) of the gift with a note (amount is kept confidential) showing that you care not only about them, but also about the future of our community.
Bequests are outright gifts to the foundation through a will or trust. For your IRA, 401(k), 403(b)/life insurance or bank account, contact your custodian, insurer or bank and designate the Greek America Foundation as a full, partial or contingent beneficiary. Charitable bequests to the foundation can also be included when executing a new will or added to an existing will through a codicil. You may leave an unrestricted or restricted bequest of cash, property or a portion or the entire residue of your estate.
A bequest is a gift from an estate after his/her death, usually described in the donor’s will. Charitable bequests are generally deducted from the overall value of the estate and may decrease or eliminate estate and/or inheritance taxes levied by state and federal governments.
There are several types of bequests that are possible:
– A contingency bequest provides for a donation to the Greek America Foundation only if your spouse does not survive you.
– A remainder bequest allows a portion of your estate to be set aside to provide income for a surviving spouse for a period or lifetime.
– A residuary bequest provides that other expenses and bequests be honored prior to the donation to the Greek America Foundation.
If you already have a will, your attorney can create a codicil, or amendment to the will to accomplish any of the above.
In many instances the simple insertion of a phrase such as that below can create a living legacy:
“I, (name of benefactor), bequeath to the Greek America Cultural and EducationalFoundation, Inc., a not-for-profit corporation incorporated under the laws of New York with principal offices in New York City, the following (sum, percentage, or property).”
Gifts of life insurance allow a donor to provide for beneficiaries, achieve substantial tax savings and make a larger gift than might otherwise have been possible.
You may contribute a paid-up policy that you or your heirs no longer need by naming “Greek America Cultural and Educational Foundation” as the irrevocable owner and beneficiary. In this manner, there may be an immediate tax deduction and a reduction in the total amount of your taxable estate. Life insurance proceeds pass immediately to theGreek America Foundation without delay of probate or estate handling.
Even if your life insurance policy is not paid-up, if it has an immediate surrender value, you may derive an immediate benefit by giving. The Greek America Foundation will then obtain the current value from your insurance company.
Your attorney and/or tax advisor can share other means by which you can gain tax savings by obtaining a new insurance policy with the Greek America Cultural and Educational Foundation, Inc. as the beneficiary — or assigning the ownership of a policy to Greek America Cultural and Educational Foundation, Inc. and continuing to make payments.
Gifts of appreciated real estate such as a home, vacation property or undeveloped land may be accepted. Gifts of this nature may allow the donor to avoid tax liability.
Retirement Plan Assets
By naming the Greek America Foundation as a beneficiary of your retirement account, you maintain lifetime control of these assets which pass to the foundation upon your death. Your estate may be able to avoid certain income and estate taxes.
All of the above is not intended as legal or tax advice. Prior to making a charitable gift you are advised to consult your attorney, accountant and/or other financial professional for advice with respect to legal and tax-related matters.
Charitable-Remainder Trusts and Gift Annuities are methods of making an irrevocable gift of assets during your lifetime that will ultimately benefit the Greek AmericaFoundation while providing income during your lifetime and/or your heirs’ lifetimes.Because appreciated assets such as stocks or real estate can be protected from taxes, these approaches may benefit the donor while providing income for a period of time to one’s heirs. State laws may impact the preparation of these instruments; therefore, it is important to seek local legal counsel to provide the maximum tax savings and avoid errors that may impact the gift transfer.
Through planned giving, we can continue to promote, preserve and perpetuate Greek culture, history and ideals.
We can provide more life-changing experiences for hundreds of young adults to volunteer in Greece via our Greek America Corps program. We can continue to offer invaluable study abroad opportunities for North American students via our Semester in Athens Scholarships. And we can send more aid to our various accredited non-profit partners in Greece via our Project Hope for Greece campaigns.
Your investment in the Greek America Foundation can generate a legacy that will last forever.
Click here to learn more about the impact of your tax-deductible contribution.