Planned Giving Opportunities
Gifts of Appreciated Securities
A gift of long-term appreciated securities generally provides two important tax advantages. First, the donor is entitled to a charitable income tax deduction based on the fair market value – not the cost basis – of the securities, provided it has been owned for at least twelve months. Second, the donor avoids any potential tax on the capital gains and any sales commission that would be payable upon the sale of the securities. Securities can be donated outright or transferred to fund life-income gifts, and can include publicly traded common stocks and bonds.
How to Transfer Securities to Spurwink
Your broker can electronically transfer stocks to Spurwink. For more information, contact the Spurwink Development Office at 207-688-4652 or giving@spurwink.org.
Planned Giving to Spurwink
Thank you for considering a gift to help support our mission. We know that if you make a contribution, it will be because you believe in what we do, and because you want to help make a difference in the lives of those we serve. But we’d also like to make sure you benefit from making a gift to us.
You may be surprised to learn that some of the best gift plans also improve the donor’s financial and tax situation.
What’s a planned Gift?
What if you want to hold onto your money and assets now and defer giving in the future? This option is called “planned” gifts. They can be revocable - a charitable bequest in your will, for example-so that you can change your mind at any time. Or, they can be irrevocable – just as outright gifts are – so that you benefit from an immediate income tax deduction.
Bequest
If your goal is to defer a gift until after your lifetime, a Bequest may be right for you. You would name Spurwink in your will (designate a specific amount, a percentage, or a share of your estate). The benefit to you is that the donation is exempt from federal estate tax and you control the asset for your lifetime.
Charitable Gift Annuity
A charitable gift annuity is one of the easiest and most popular ways to make a charitable gift and receive annual income. A gift annuity can be funded with as little as $10,000 using cash securities, real property or personal property. In exchange for your gift, Spurwink will pay a specified amount to you and, if you wish, one other beneficiary for life. All annuitants must be at least 55 years old when payments begin.
Charitable Trusts
A Charitable Remainder Trust makes periodic payments to one or more individuals for life(s) or for a term of years. Upon termination of the trust, the property remaining will be used for the charitable purpose you have specified.
A Charitable Lead Trust pays an income to the charity of your choice for a set term (a fixed number of years or your lifetime). Upon termination, any remaining principal is distributed to your heirs.
Charitable Remainder Annuity Trust
If your goal is to secure a fixed income and supplement your retirement funds, then a Charitable Remainder Annuity Trust may be for you. As the donor, you receive a fixed annual income. You benefit from an immediate income tax deduction and fixed payments for life.
Gift of Life Insurance
You may own an insurance policy which you no longer need. Your gift of an existing life insurance policy to Spurwink gives you a current income tax deduction and possible future deductions through gifts to pay policy premiums.
Gift of Real Estate
Make a gift of property to us and sell it to us at a bargain price. You benefit by an immediate fair market value income tax deduction and reduce or eliminate capital gains tax.
Note: Spurwink does not provide legal, accounting or tax-preparation advice. You should consult your tax and legal advisors for your specific situation.
Spurwink Development Office
207-871-1200
899 Riverside Street
Portland, ME 04103
|
