What Can I Give?
Most donors who pledge support to us will make gifts of cash (checks and credit card charges) or marketable securities, but other options include gifts of real estate, life insurance proceeds or ownership, or retirement plan proceeds. The Franklin Land Trust, Inc. is a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. Gifts are tax deductible as allowed by law, but only your own financial, legal and tax advisors can determine the tax implications of your gift.
Cash: Cash in the form of checks may be made payable to the Franklin Land Trust, Inc.. You may also donate cash through a charge to your credit card.
Securities: Gifts of appreciated securities such as stocks (including closely-held S corp. and C corp. stocks) and mutual fund shares can be contributed for charitable purposes. You receive a charitable deduction based on the fair market value of the asset at the date of transfer, and avoid paying capital gains tax on the asset’s appreciation. This can allow you to make a significant gift at a far lower cost to you than donating cash.
Matching Gifts: Numerous corporations have matching gift programs through which the employer will match an employee's charitable gift. Use your employer's matching gift form to leverage your gift. If you are unsure if your company has a matching gift program, please call your human resources or benefits office.
Real Estate: A gift of real estate that has appreciated in value can be an attractive option when considering a major charitable contribution. You incur no capital gains tax on appreciated real estate given for charitable purposes, and you benefit from a charitable deduction on your income taxes. You can also donate a remainder interest in your home to the Franklin Land Trust, retaining the right to live in it for the rest of your life. This provides you with a current charitable deduction on your income taxes, and causes the property to pass automatically at your death to the Franklin Land Trust.
Life Insurance Policies: You may make the Franklin Land Trust the owner or the beneficiary of your life insurance policies. A number of options are available that can result in immediate income tax deductions or future estate tax deductions.
Retirement Plans: The Franklin Land Trust may also be named as the contingent beneficiary of your retirement plan. Gifts of these assets can result in significant income and estate tax benefits.
Planned Giving
The term “planned giving” refers to charitable gifts that require some planning before they are made. Planned gifts allow you to make a significant gift to the Franklin Land Trust, and may offer you current income or allow you to retain the asset for personal use during your life. Please consult with your financial, legal and tax advisors before making any planned gift.
Bequests: When you decide to leave assets in your will to support the work of the Franklin Land Trust, you are making a bequest. You may decide to leave a specific amount or a portion of your residuary estate to the Franklin Land Trust. We are able to provide your attorney with the appropriate language to include in your will. All bequests to the Franklin Land Trust can reduce federal estate taxes, and there is no limitation on the size of the gift. Please consult with your attorney and financial advisor regarding your estate tax circumstances. Please have your attorney contact our offices at 413 625-9151 to request sample language.
Charitable Gift Annuities: A Charitable Gift Annuity is a contract between you and the Franklin Land Trust. You transfer cash or negotiable securities in exchange for the promise by the Franklin Land Trust to pay a fixed payment for life to you or to a friend or family member as beneficiary. Annuity payment amounts are based on the size of the gift and the age of the beneficiary. You receive an income tax deduction at the time that you make the transfer.
Deferred Charitable Gift Annuities: You can also create a Deferred Charitable Gift Annuity to begin payments at least one year and a day after creating the annuity. The longer you defer the initiation of the payments, the more the annuity payments and your income tax deduction increase. Younger donors often prefer Deferred Gift Annuities – they can take a charitable deduction when the annuity is set up, during higher income years, and the annuity payments can begin at retirement, to supplement retirement income.
Charitable Remainder Trusts: A Charitable Remainder Trust is an irrevocable trust that pays you or someone you designate either a fixed percentage of the value of the trust (unitrust) or a fixed payment (annuity trust) annually for life or a term of years, after which the assets are given to the Franklin Land Trust. You receive an immediate income tax deduction at the time you transfer assets to the trust. Charitable Remainder Trusts are a good way to provide a stream of income to a family member for a period of years while benefiting the Franklin Land Trust with a significant gift.
Charitable Lead Trusts: A Charitable Lead Trust is an irrevocable trust that pays the Franklin Land Trust a stream of income for your lifetime or for a set number of years, after which the assets revert to you or to someone you designate. The payment can be set as a percentage of the value of the trust or as a fixed annual payment. You receive an immediate income tax deduction upon the transfer of assets to the Charitable Lead Trust. This vehicle is an excellent way to make a gift to the Franklin Land Trust and to transfer assets to your children and grandchildren without having to pay estate taxes on the assets.
Join Legacy Leaders Today!
Legacy Leaders are a group of special people who have made a lifelong commitment to FLT by including it in their estate plans. They understand the importance of land conservation and want to do something that will make a real, lasting difference in this region. As a member of this group, you will have made an important decision to include FLT in your plans. Your commitment will have lasting rewards for generations to come.
Please call the Land Trust office at 413-625-9151 and ask to speak to the Executive Director.
