Outright gifts of cash and securities are among the most common assets used in giving-with cash being the easiest to contribute. Charitable cash gifts are deductible up to 50% of a donor’s federal adjusted gross income** (income after certain adjustments are made, but before standardized and itemized deductions, and personal exemptions, are made); there are additional tax savings available in most states.
Appreciated securities such as stocks and bonds may be more advantageous to give than cash because charitable gifts of appreciated property avoid the realization of capital gains. However, the charitable deduction for gifts of appreciated property such as stocks is limited to 30, not 50% as with cash, of adjusted gross income (AGI).
As with gifts of securities, an outright contribution of real estate offers a triple benefit: income tax savings, avoidance of capital gains, and removal of property subject to potential estate tax. The annual federal charitable deduction is again limited to 30% of AGI, with a five-year carryover of any excess.
Planned and Memorial Gifts
Planned gifts allow you to provide for GNP in the future when it may not be practical today. These contributions are important in helping the Glacier National Park Conservancy plan for tomorrow.
Bequests are the simplest form of planned gift and may be included in a new or revised will. Bequests may be designated to a specific project or program or may be unrestricted. Before making a restricted bequest intention, please contact the Glacier National Park Conservancy to ensure your eventual wishes will be fulfilled. We will prepare a statement of intent that can be referenced in your estate documents.
Specific bequest – states a specific amount or specific asset. It may be a gift of cash, securities, real estate or tangible personal property (for example, artwork, antiques, jewelry, or coin or stamp collections).
Residuary bequest – names the Glacier National Park Conservancy as a recipient of all or a percentage of the remainder of the estate after specific bequests have been fulfilled.
Contingent bequest – takes effect only if all primary beneficiaries named in the will are predeceased. Declaring the Glacier National Park Conservancy a contingent beneficiary can prevent the property from going to the State if there are no heirs.
Testamentary trust – designates that part or all of the estate is left in a trust, with income and/or principal paid to the Glacier National Park Conservancy.
Real Estate – with Retained Life Estate – A gift of a remainder interest in a tree farm or personal residence offers a charitable deduction, and avoidance of capital gains, while permitting the donor to use the property for the rest of his or her life. Although the donor will be responsible for maintenance, taxes, and insurance, the charitable deduction may be particularly helpful during years of high income and the gift removes the property from the estate thereby saving potential estate taxes.
We hope that this primer on planned giving has encouraged you to consider giving to the Glacier National Park Conservancy.
** Any deductions not fully deductible in the year of gift may be carried over up to five additional years.
Memorials are very special to the Glacier National Park Conservancy. It means the hearts and souls of those that have loved and cared for the Park throughout their lives will be a part of the Park in their passing. This is truly a tribute to the relationship between the two and an inspiration for us to continue to preserve and protect the Park for future generations.
There are several ways to create memorial gifts in the Park. While we do not have much flexibility in naming things directly due to Park policy, we do have ways to help the family know about their special gift to the Park.
Often times family members choose to list the Glacier National Park Conservancy in the funeral arrangements. These funds can be pooled in an account until the family decides where to allocate them.
The family can choose to create a quasi-endowment that would support the Park for a number of years depending on the amount of funds or a permanent legacy endowment that would live on in perpetuity at the Glacier National Park Conservancy in the person’s name. The permanent endowments do require a minimum gift of $50,000 that can be built over a five year period and then added to throughout the years as the family desires. These endowments carry the name of your loved one and the earnings from them are given to the Park each year in the person’s name. An agreement between the Conservancy and the primary contributor help designate where the funds should go. Examples include trails, research, education, historic preservation, museum, native plant nursery, and chalets.