 Fund Development  |
Fund Development
Fund Development Office
Mission Statement
To provide the ways and means for fund development to perpetuate the legacies and technology of Sikh Dharma and 3HO foundation by capitalizing on the desire of humanity to serve others and to invest and prosper now and in the future.
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"Guru says don’t be attached to riches but He never said don’t be rich. Having money and giving it away is saintliness. Poverty is a curse. Make money and distribute it. Give for good causes. Glorify the Guru."
"Any offering given in the Name of God or any offering given in the self-exertion of the unknown, multiplies faster than time and space. Contribute one-tenth to your higher being. Give yourself a chance....give."
Siri Singh Sahib ji
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Gifts to Sikh Dharma - Bequests
There are many ways of supporting the mission of Sikh Dharma. Gifting is one of them. Gifting can be made through a variety of vehicles:
- Cash
- Undeveloped Land
- Stocks and Bonds
- Works of Art
- Personal Residence
- Life Insurance
- Commercial Property
- Trusts
- Endowment Funds
- Bequests
Each issue of this newsletter, Prosperity Paths, will focus on a specific type of multi generational gifting. This issue will focus on bequests, which are gifts that will be actualized only upon the donor’s demise.
Types of Bequests
- Cash bequest: Sikh Dharma will receive a specific dollar amount at some future point in time.
- Bequest of property : Sikh Dharma will receive a specific asset, such as securities, an interest in real estate (i.e. residence) or tangible personal property (i.e. works of art, or antiques).
- Residuary bequests : Sikh Dharma will receive all or a percentage of the remainder of an estate after the payment of all specific bequests and all estate-related expenses.
- Testamentary Trust: The trust provides one or more heirs with income for life, after which the assets will pass to Sikh Dharma.
- Retirement Plan: Sikh Dharma is designated as a beneficiary of the remainder of your IRA, Keogh, Tax-sheltered annuity, qualified pension or profit-sharing plan.
- Testamentary Trust: The trust provides income, and principal if needed, to your spouse for life, after which the asset pass to Sikh Dharma.
- Contingent bequest : Sikh Dharma is granted a bequest upon the demise of other named beneficiaries.
Tax Benefits - Generally bequests are not deductible for income tax purposes. However, Sikh Dharma has developed income and estate planning that creates current income tax benefits for bequesting - like gifting circumstances. A bequest is totally deductible for federal estate tax purposes, and there is no limit on the amount of the estate tax charitable deduction. In addition bequests generally are not subject to state inheritance or estate taxes. In a large estate, the tax savings from the bequest can be more than half of the value of the estate.
How To Make A Bequest? A bequest to Sikh Dharma can be made by creating a new will, adding a clause to your present will, or including Sikh Dharma in your revocable trust. Sikh Dharma has organized a staff of talented professionals to facilitate your gifting needs.
Examples of Bequest Language - The corporate name of the Dharma is "Sikh Dharma ". The following examples can be tailored to best suit your interests.
Unrestricted Bequest - I give (all the rest, residue and remainder of my estate) or (_____ dollars) to Sikh Dharma for the benefit of the (name the specific school or affiliate)."
Bequest To Establish An Endowment - I give (all the rest, residue and remainder of my estate) or (______ dollars) to Sikh Dharma for the (name the specific school or affiliate), the income only to be used for the following purpose: (state the purpose).
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The staff of the Fund Development Office would be pleased to consult with you about the various gift and fund raising alternatives for Sikh Dharma and 3HO.
May Guru bless each and everyone of you for your selfless service and tax deductible contributions in 1993. It was a great year!