Stained glass panels were donated for Maywood Park’s Pavillion to honor the work done by GLC’s chapter, Friends of Sheboygan’s Parks. The group’s legacy to protect the city’s green spaces, like Sheridan Park, will live on in these colorful six foot panels.
Gifts to ensure a legacy of land
Gifts to ensure a legacy of land
By including Glacial Lakes Conservancy in your estate planning, you are protecting the natural beauty and ecological health of our five counties for future generations.
Planned Giving is one of the single most important ways you can help Glacial Lakes Conservancy is through your will or trust. The simple insertion of a clause naming Glacial Lakes Conservancy as the direct beneficiary of a specific amount of money, of specific assets, or of a portion of your estate after other payments are made will create a lasting legacy. Gifts to the Conservancy are free from federal estate tax, and there is no limit on the amount you can leave to the Conservancy. After your lifetime, your estate is able to take a charitable deduction for the full amount of your gift.
Land Protection Fund Donations are another way to support the stewardship work of GLC, since it promises to uphold the terms of each conservation easement in perpetuity. While GLC’s Land Protection Fund is built up to a substantial level, these pooled funds are being invested and the principle is available for legal defense only. The interest generated will provide the Conservancy income year after year to meet the costs of monitoring, enforcing and defending easements.
The Conservancy Fund Donations may be used for any needs the Conservancy has in fulfilling its mission. Gifts to the Conservancy Fund are used by the Board of Directors and staff to further the current land protection priorities and programs, such as conservation easement opportunities, general growth and organizational necessities that ensure the current and future effectiveness of the Conservancy.
Making Gifts by Beneficiary Designation Investment funds and insurance policies can be made into gifts to the Conservancy by naming Glacial Lakes Conservancy as the beneficiary on the account or policy. At the end of your lifetime, the balance is transferred directly to the Conservancy without having to go through probate.
Designation Language To make a gift to Glacial Lakes Conservancy, ask your attorney to insert the following language into your will or trust:
“I give to Glacial Lakes Conservancy, Inc., with its principal business office at P.O. Box 258, Kohler, WI 53044, (insert written amount of gift, percentage of the estate or residuary of estate, or description of property) for its (choose) Conservancy Fund / Land Protection Fund.”
Other Ways to Give
When considering a gift, whether it’s $5,000, $50,000, or even more, you can further the mission of Glacial Lakes Conservancy in one or more of the following ways:
Outright Gifts
An outright gift is one made while you are living and is transferred directly from you to the Conservancy. Outright gifts provide you with a charitable tax deduction, remove assets from your taxable estate, and have an immediate impact on land preservation efforts. Donations may be made to one of two funds:
- The Conservancy Fund—the donation shall be used at the discretion of the Board of Directors and staff for any needs the Conservancy has in fulfilling its mission.
- The Land Protection Fund—the donation shall be invested to produce interest income for stewardship and legal defense of perpetual conservation easements and the preserves it owns.
Gifts of Cash, in the form of a check: These donations are generally deductible up to a limit. Consult your tax advisor or the IRS.
Gifts of Stock or Mutual Funds: Giving a gift of appreciated stock that you have owned for more than a year can be especially tax-wise. If you were to sell the stock, you would pay a capital gains tax on its increase in value. By making a gift of the stock to the Conservancy, you avoid paying taxes on the gain. In addition, your charitable contribution deduction is equal to the full market value of the stock.
Example: If you purchased stock years ago for $5,000 and it is now worth $15,000, an outright gift to the GLC would result in a charitable contribution deduction of $15,000. Also, you would pay no capital gains tax on the $10,000 appreciated value.
If you wish to donate stocks or mutual funds, the procedure is to:
- Notify your stockbroker in writing that you wish to make a charitable donation of stock and/or mutual funds to Glacial Lakes Conservancy on a specific date.
- Your broker will contact the Conservancy to notify us of your gift and to obtain our brokerage account information.
- Upon notice that title to the stock/mutual fund has been transferred the Conservancy, we will ask our broker to sell the stock/mutual fund. The Conservancy will pay the commission and you will avoid capital gains tax. The proceeds will be deposited in the fund you have chosen.
Gifts of Land: Glacial Lakes Conservancy can accept gifts of land. If you are considering such a gift, please contact the Conservancy office so we may discuss the details of the decision. Do you want the land to remain undeveloped? Do you want the Conservancy to own the land? Will the land have an endowment fund to pay for property taxes and maintenance? May we sell it and use the proceeds to fund the Conservancy’s programs?
Gifts of Life Insurance: One simple way to leave a gift is to donate a life insurance policy to the Conservancy, or to name us as the beneficiary.
Charitable Remainder Trust: A charitable remainder trust (CRT) is one of several legal and financial tools which may be helpful in combining estate planning and charitable giving. It allows individuals to make donations to their favorite charities while still maintaining an income stream from their assets. Your attorney can help you create a trust using IRS-approved procedures. The trust is funded with cash or the sale of appreciated assets. The trust pays you an annual income of a certain percentage of the value of the trust assets until the end of your life or other designated time period. Upon death or termination of the time period, the remaining assets of the trust are transferred to Glacial Lakes Conservancy. You will benefit by receiving an income tax deduction for a charitable contribution at the time the CRT is established. You will also eliminate the capital gains tax on the sale of the appreciated assets. It is important to note that with a CRT, a donor is able to retain control over the management of the trust until the time of death.
Disclaimer: The information in this section and on our website is not intended as legal advice. Please consult your attorney or tax advisor when making your giving arrangements. Examples used are for illustrative purposes only and are based on IRS regulations in effect at the time of printing.
