“Planned Giving” covers all kinds of charitable gifts such as bequests, trusts and gifts of retirement benefits, which allow you to leave a legacy that will continue far beyond your lifetime. There are many ways you can contribute and help us preserve our Island’s open spaces and unique habitats.
Listed below are some examples of Planned Giving strategies:
Bequests: A bequest is an easy and simple way to give a gift of cash, securities or personal property that does not affect the donor’s income or estate during their lifetime. There are several types of bequests, and donors are urged to discuss their plans with an attorney or financial advisor before any decisions are made.
- An unrestricted bequest is a gift for our general fund, to be used at the discretion of our governing board. A gift like this—without conditions attached—is frequently the most useful, as it allows us to determine the wisest and most pressing need for the funds at the time of receipt.
- A restricted bequest allows you to specify how the funds are to be used. If you have a special purpose or project in mind, please consult with us before you make your bequest to be certain your intent can be carried out.
- An endowed bequest allows you to restrict the principal of your gift, requiring us to hold the funds permanently and use only the investment income they generate. Creating an endowment in this manner means that your gift can continue giving indefinitely.
For some sample language on how a bequest may be worded please click here.
A Life Estate Agreement is a way to donate land or a residence for those donors who want to continue to enjoy and use their property throughout their life. While the actual transfer of the future interest in the property is made to the Foundation now, you may continue to live in the home or on the property for the rest of your life.
A gift of a life insurance policy is an excellent method to make a larger contribution than you could otherwise provide with an outright gift of cash or stock during your lifetime. If you own a life insurance policy and the original beneficiary no longer needs the protection, the policy may be transferred to the Foundation as both owner and beneficiary.
Individual Retirement Accounts (IRAs), company-sponsored pensions, profit-sharing plans and other methods of saving for retirement may be appealing as sources for charitable gifts. If you are over age 59 ½ and find that you have more than adequate resources set aside for retirement, you may choose to use a portion of your retirement funds to make charitable gifts which may reduce your estate and income taxes.
Through a charitable gift annuity, you can make a gift to the Foundation and receive fixed annual payments as well as income and estate tax benefits. A gift annuity is a simple, contractual agreement between a donor and the Nantucket Conservation Foundation in which you give assets to us in exchange for our promise to pay you a fixed sum for life.
When you create a charitable remainder trust, you give money, securities or other assets to a trust you create that will then pay you an income for life or for a period of years (not to exceed 20). If you wish, the trust also can pay an income to other beneficiaries of your choice. At the death of the final beneficiary, the remaining balance in the trust goes to the Foundation.
If you are interested in discussing any of these giving options, please contact David Worth, Executive Director at email@example.com.
We strongly urge you to consult with your own financial and legal advisors to determine the best method of giving for you. We also ask that you consult with the Nantucket Conservation Foundation before you execute a will or living trust so we are certain that we understand your goals and can provide the correct technical details to your advisor or attorney.
Entry upon or use of any property of the Nantucket Conservation Foundation, Inc. (“the Foundation”) by any person shall constitute a release by such person of the Foundation, its agents, and servants from any and all claims for personal injuries, property loss, theft, or damage sustained upon Foundation property, and such release shall be binding upon such person, his personal representatives, and all persons claiming through or under him.
The Nantucket Conservation Foundation is a 501(c)(3) nonprofit corporation. Contributions are deductible to the full extent of applicable tax regulations. Please be sure to consult with your financial and legal advisors regarding your donations and estate planning.