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 donorís 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.
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
The Park or Fund needs services or products that can save us
valuable unrestricted donation money in acquiring. Please check
with us if you think you have an item or service that we could
PLANNED OR DEFERRED 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. Donors
who let us know of their intentions will be listed in our annual
report under future gifts.
Bequests are the simplest for 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 or a gift of 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
recipient of all or a percentage of the remainder of the estate
after specific bequests have been fulfilled.
Contingent bequest - takes affect 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.
Life Income Gifts
The Glacier National Park Conservancy has not offered life income gift
opportunities in the past. Recently, we have looked into
partnering with the local community foundation and D. A.
Davidson to be able to participate in this great area of
philanthropy. This will allow us to participate in the Montana
Endowment Tax Credit (METC) as well for those donors who wish to
receive that credit on their state income taxes through
utilizing a deferred gift annuity to make an endowment gift.
Life income arrangements through planned giving can increase a
donorís income, save on taxes, and provide future support to
charity. Plus, the use of appreciated stocks, bonds, or real
estate will avoid all or a part of the capital gains otherwise
due upon sale. Life income gifts are particularly attractive
when someone wants to offer a large contribution but the
uncertainty of her future needs preclude an outright gift.
Basically, life income arrangements provide payments for the
life of one or more beneficiaries, a charitable deduction for
the donor, and the remainder upon the termination of the gift
left to charity. Some types of life income gifts we would
welcome exploring with you.
Charitable Gift Annuity
The charitable gift annuity is the simplest, and often the most
beneficial, life income gift. In exchange for a transfer of
cash, stock, or real estate, a charity will guarantee payments
for life. The payment is dependent on the age of up to two
beneficiaries and the remainder passes to charity upon
termination. To take advantage of the Montana Endowment Tax
Credit, we are exploring utilizing the deferred gift annuity.
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.