Today, the BRLT protects more than 1,500 acres of stunning shoreline, historic islands, beautiful forests, meadows, wetlands and important working waterfront. The properties are maintained as natural habitat for native flora and fauna and most are open to the public for hiking and aesthetic enjoyment. This has been achieved through the generosity of loyal and dedicated donors who understand that if we don’t do something now, our precious heritage could be lost forever. As the saying goes about undeveloped land: “They’re not making any more of it.” The BRLT mission, with your help, is to guarantee that the unique natural assets of this region remain a legacy for our children and their children. In addition to contributions throughout the year, the BRLT relies on “planned giving,” generous gifts that keep on giving, providing benefits to the land trust – and also to the donor and the donor’s family.
Your gift aids the Boothbay Region Land Trust in accomplishing its mission and leaves a legacy for generations to come. With financial and tax planning, it may also provide benefits for you and your family.
POSSIBLE TYPES OF GIVING
- Life Insurance, IRAs & Annuities
- Bequests by Will
- Charitable Lead Trust
- Charitable Lead Annuity Trust
- Charitable Lead Unitrust
- Charitable Remainder Trust
- Land and Other Property
- Outright Gift
- Bargain Sale
- Retained Life Estate
- Conservation Easements
GIFTS OF CASH Gifts of cash to the Boothbay Region Land Trust are generally tax deductible for income tax purposes for the year in which the gift is made. Gifts of cash can support long-term endowment, or provide immediate funds with which the BRLT can pursue its mission. Click here to donate online.
GIFTS OF SECURITIES Gifts of securities to the BRLT are generally tax deductible for income tax purposes to the extent of the market value of the securities at the time of the gift. The BRLT can sell the securities and direct the proceeds to build the BRLT endowment or use them to meet other critical needs. The donor can achieve a second tax saving as there would be no tax on the capital gain of appreciated securities.
GIFTS OF LIFE INSURANCE, IRAS & ANNUITIES The BRLT can be named as beneficiary under life insurance, individual retirement accounts and annuity contracts. Typically, there is no immediate tax deduction upon the naming of a charity under these contracts.
BEQUESTS BY WILL A bequest of cash, securities or property may be made under the terms of a will. Such a gift may serve as a fitting legacy in support of the ongoing mission of the BRLT. This bequest would not be taxable in the donor’s estate.
CHARITABLE LEAD TRUSTS This is a method of making a gift to the BRLT while at the same time transferring assets to your beneficiaries, on a tax-advantaged basis. Assets such as cash or securities are transferred to a trust to last for a predetermined number of years. The trustee invests the assets and distributes the income to the BRLT in accordance with the trust instrument. This income provides a tax deductible gift to the donor. Upon termination of the trust, the remainder is returned to the donor or to other beneficiaries designated by the donor.
CHARITABLE REMAINDER TRUSTS Under this arrangement, you create a trust into which assets such as cash or securities are transferred. The trustee invests the assets and provides you with an income for life. Ultimately, the remaining values in the trust will pass to the BRLT. In the year the trust is created, you receive an income tax deduction based on the present value of the remainder interest which will ultimately be received by the BRLT.
GIFTS OF LAND AND OTHER PROPERTY There are a number of ways to give an interest in land and real estate to the BRLT:
Outright Gift An outright gift of real estate typically gives rise to a charitable deduction equal to the fair market value of the property donated. The value of the property is removed from the taxable estate for estate tax purposes.
Bargain Sale You may sell your property to the BRLT for less than its appraised market value. This type of transfer results in a charitable deduction for income tax purposes in an amount equal to the difference between fair market value of the property and its bargain sale price. The charitable deduction may offset any taxable gain recognized on the sale of the property.
Retained Life Estate Under this method, a gift of property is made to the BRLT. However, you may retain possession of the property for your lifetime or for a specific term of years.
Conservation Easement A conservation easement can be donated under which the donor retains the land but excludes or limits future development rights. To be considered appropriate for a conservation easement, the property in question must be reviewed by the BRLT and meet ecological, biological and/or historical criteria established by the BRLT. The BRLT as holder of the easement ensures that the provisions in the easement are enforced. Because of the costs associated with monitoring and enforcing easements in perpetuity, the BRLT typically seeks endowment from the easement donor. Granting an easement of this type results in a charitable deduction equal to the appraised value of the easement and an additional tax deduction for the value of the endowment donation.
HOW TO MAKE YOUR GIFT Determining how to make the best use of any of these opportunities requires thoughtful consideration of your own personal circumstances and priorities. While the above information is offered in an attempt to be helpful, you and your tax and legal advisors are responsible for final determination as to the appropriateness of any gift arrangement. Should you desire further information on any of the above ways of giving, please contact the Boothbay Region Land Trust. We would be happy to work with you and your advisors on a confidential basis to explore the most suitable method for you to achieve your goals.
Donate When You Shop Online
Are you an Amazon shopper? Every time you shop on Amazon you can donate to BRLT with no additional cost to you. Go to smile.amazon.com and choose Boothbay Region Land Trust as your preferred charity. Same low prices, selection and shopping experience as Amazon.com, with the added bonus that Amazon will donate .5% of the purchase price to Boothbay Region Land Trust. It can’t be easier to support your favorite Land Trust!