Through planned gifts to the Natural Resources Council of Maine, donors help to protect and restore Maine’s environment for future generations. Planned gifts also may provide donors with significant financial benefits through future estate tax savings, current income tax savings, the creation of an income stream for life, and a reduction of capital gains taxes.
Below are brief descriptions of the various ways you can make a financial commitment from your will, living trust, or other estate plans to protect Maine’s environment.
Please contact the Philanthropy Department for a confidential discussion about the potential benefits of a planned gift to the Natural Resources Council of Maine.
Senior Director of Philanthropy
Natural Resources Council of Maine
3 Wade Street
Augusta, ME 04330
(800) 287-2345, ext. 208
Planned Giving Options
Bequests: Leave a financial and environmental legacy for future generations. Sample bequest language is available.
Retirement Plan Assets: Use your tax deferred retirement plan assets to benefit the environment.
Life Income Gifts: When you make a life income gift, you enjoy the security of ongoing income for you or your beneficiary at the same time you invest in Maine’s environmental future.
By including a bequest to the Natural Resources Council of Maine in your will, you help to ensure the health and beauty of our state for many years to come.
There are several forms that this bequest can take:
A specific bequest:
“I devise and bequeath to the Natural Resources Council of Maine, a nonprofit corporation currently located at 3 Wade Street, Augusta, ME 04330, the sum of $________(or, _______% of my estate) to be used to support the charitable activities of the Natural Resources Council of Maine for the protection of Maine’s environment.”
A residuary bequest:
“I devise and bequeath to the Natural Resources Council of Maine, a nonprofit corporation currently located at 3 Wade Street, Augusta, ME 04330, all (or specify _______%) of the rest, residue, and remainder of my estate to be used to support the charitable activities of the Natural Resources Council of Maine for the protection of Maine’s environment.”
Retirement Plan Assets
Because of the estate and income taxes imposed on unused portions of your retirement plans after your lifetime, you may want to make a charitable contribution of those assets. Simply name the Natural Resources Council of Maine as the beneficiary on the plan’s beneficiary designation form. If you wish to split the assets between your heirs and the Natural Resources Council of Maine, consider giving a percentage of the assets.
Life Income Gifts
When you make a life income gift, you enjoy the security of ongoing income for you or your beneficiary at the same time you invest in Maine’s environmental future.
Generally, a life income gift pays income to you or your chosen beneficiary for a term of years or for life. After the conclusion of the term, or upon the death of the last income beneficiary, the remainder left in the life income gift is distributed to the Natural Resources Council of Maine. Life income gifts can be funded with cash or securities and may be made during the donor’s lifetime or at death for the benefit of one’s heirs.
Life income gifts offer many potential benefits:
• Income for life (or a term of years) to you and/or other designated beneficiaries
• An immediate tax deduction
• Reduction of capital gains taxes
• Reduced probate expenses
Charitable Gift Annuities
In exchange for an irrevocable gift of cash or securities, the Natural Resources Council of Maine will agree to pay one or two annuitants you name a fixed sum each year for life. The older the annuitants are at the time of the gift, the greater the fixed income that we can agree to pay. Minimum gift is $10,000.
Charitable Remainder Trusts
A charitable remainder trust is one of the most flexible and beneficial charitable tools available today. In exchange for a gift of cash or securities, a separate tax-exempt trust can be set up for your benefit. The trust will pay income to one or more persons for life, or for a term of years (not to exceed 20). Income or capital gains taxes are paid only on distributions to the lifetime income beneficiaries, making the charitable remainder trust an excellent vehicle to provide tax-free investment growth and avoidance of capital gains taxes on highly appreciated assets. After the death of the last beneficiary (or the expiration of the term of years), the Natural Resources Council of Maine receives the remaining trust assets.