What is the campaign goal?
The facility needs of FUS are significant. Based on a professional feasibility study, we expect to raise from the congregation less than all our financial needs. We have yet to declare a goal and will do so after we have completed a "quiet phase" of campaign solicitations. It is likely that the public goal will be near $5 million.
How will the congregation be asked to help in this campaign?
We will be asking all members and friends of FUS to consider a multi-year pledge to the campaign. In the next nine months, a group of volunteers will personally meet to discuss the campaign with as many individuals, couples, and families as we can. While achieving any substantial goal requires a number of leadership gifts, we hope that everyone in the congregation will participate to the extent of their ability.
Can gifts and pledged be paid over more than one year?
Yes. We encourage everyone to consider a multi-year pledge payable over three - five years. While we hope that each donor will fulfill their commitment within three years to keep the cost of debt service to a minimum, we recognize that some wish to make an even more significant commitment by extending payments over extra years. You may make payments annually, quarterly or monthly.
What are the tax implications of these charitable and philanthropic gifts?
Gifts to the FUS campaign are tax-deductible to the extent allowed by law. The IRS affords religious organizations a similar tax exempt status as 501(c)3 non-profits. Similarly, charitable gifts to FUS receive tax deductions. Gifts of appreciated securities transferred to FUS also receive a tax deduction for the full market value of the shares at the time of transfer, and avoids capital gains if otherwise sold. Check with your financial and tax advisors.
Can people make gifts with assets other than cash (checks)?
FUS encourages donors to consider gifts of appreciated securities. These gifts give donors additional financial incentives. In addition, tax laws allow individuals to give other appreciated assets such as real estate and artwork. Beyond helping the campaign, consider establishing a bequest for FUS, naming FUS beneficiary of a retirement fund, IRA or life insurance policy, or using other means to make a long-term contribution to the Society. The recently approved Pension and Protection Act (PPA) of 2006 contains a provision providing opportunities for persons over the age of 70 1/2 to make immediate charitable gifts from traditional and Roth IRA accounts.
Are we expected to make a campaign gift in addition to our annual support?
In recent years, the congregation's response to the efforts of an expanded number of volunteer canvassers has been remarkable. These annual funds are critical to the operating budget of FUS. We are asking members to continue this valuable support as they decide what they can do to help in this campaign of special needs.
Do we expect that others beyond the congregational membership will support this campaign?
Yes. While most of the charitable funds for the expansion of our facilities will come from FUS members, we will approach individuals, corporations and foundations to assist in the refurbishment of the historic Frank Lloyd Wright Meeting House.