PLANNED GIVING OPTIONS
GIFTS OF APPRECIATED STOCK
By using stocks which have increased in value since their purchase for charitable giving, you can conserve cash for other uses and maximize the value of your charitable gifts. You can deduct the fair market value of qualified non-cash property and you pay no capital gains tax on gifts of long-term appreciated property (held for at lease a year and a day). This can reduce the cost of making a charitable gift or increase the amount you can afford to give.
GIFTS OF RETIREMENT PLANS
Start your end-of-year gift planning now and take advantage of tax-wise giving. If you are age 70 ½ or older, you are typically required to take Required Minimum Distributions (RMD) from your IRA. These distributions are taxable income to the taxpayer.
Current tax law now allows you to make direct transfers from your IRA to Tanglewood Nature Center, and other qualified not-for-profit organizations. The transfers are called Qualified Charitable Distributions (QCD). The amount transferred is not taxable income to the taxpayer and will not be counted as part of your adjusted gross income (AGI). This is especially beneficial to taxpayers who take a standard deduction, and otherwise would not receive a tax benefit for the contribution.
Tanglewood suggests that you consult with your financial institution holding your IRA assets and discuss how QCD’s may be a wise decision.
OTHER PLANNED GIVING OPTIONS
Bequests in your Will - You can make a gift to TNCM through your will or a codicil to your will. This is called a bequest. You can bequeath a specific amount of money, a percentage of your estate, or specific property. A bequest enables you to make a legacy gift to TNCM, while retaining full control of your assets throughout your life and can reduce estate taxes. Consult your financial advisor for further information on bequests, wills and estate planning.
Charitable Trusts - Charitable Remainder Trusts provide you with an income, a charitable tax deduction and other special benefits. The trust may be a charitable remainder annuity trust or a charitable remainder antitrust. Charitable Lead Trusts are the reverse of charitable remainder trusts in that a stream of income is first paid to TNCM for a term of years, after which the asset returns to the donor or a named beneficiary.
Life Insurance - You may name TNCM as owner and beneficiary of a Life Insurance Policy. Donors may also wish to consider gifts of paid up policies that are no longer needed.
Endowment - Investment income from the Center’s endowment provides critical funding for the Center each year. An endowment gift can be designated towards a specific project or as an unrestricted gift for the Centers most important annual needs.