Loyalty and Tradition
For over 130 years, Incarnation Center, through its camps, conference and nature programs, has been serving its guests, students and campers by providing a lasting resource – our 700 wooded acres, our mile-long private lake, and our charming lodges and activity facilities. As we look at the future, we turn to those who have loved this place in the past to support us and also to consider permanent ways that our friends and supporters might create a lasting memorial in and for our revered setting.
One way to provide for Incarnation in the future is for you to consider planned giving and legacy gifts. Giving, serving, and planning for the future makes for good stewardship. A planned gift to Incarnation allows you make a real difference in improving and expanding this magnificent resource, while maximizing your financial benefit. Some planned gifts provide income during your lifetime, while others help transfer assets and reduce or eliminate tax burdens. After carefully considering your stewardship goals, your current and anticipated financial needs, and your tax situation, we hope that this brief note will help you determine when, how much and in which way you’d like to give. We encourage you to consult your tax advisor as you consider the various gift options.
For more information on any of these gift opportunities, please contact:
Our Executive Director, Nancy Pilon [email protected].
Remembering Incarnation in Bequests and Wills
The most common way of making a planned gift is through a will. Your bequest in a will can take the form of a fixed amount of money, a percentage of an estate, a specific asset, a trust, or naming an organization such as Incarnation as a contingent beneficiary. Your bequest can be designated for our general fund, our endowment funds, for a specific program such as our Summer Camp, our Bushy Hill Nature Program, our Conference and Retreat Center, or our childhood program entitled Nature’s Playground.
Life income Gifts
You can make a significant gift while still retaining retirement income with the various Life Income Gifts described below. Incarnation works with the Episcopal Church Foundation (ECF) to provide planned giving opportunities for donors. The Episcopal Church Foundation, an independent, lay-led organization, strengthens the leadership and financial capabilities of Episcopal congregations, dioceses and related organizations to pursue their mission and ministry. ECF has managed Life Income Gifts on behalf of Episcopal entities for over a decade, and has the legal, financial and administrative infrastructure in place to manage all of these different kinds of gifts in all 50 states and the District of Columbia.
CHARITABLE GIFT ANNUITY (MINIMUM GIFT $5000)
Allows a donor to make a gift to Incarnation Center and guarantee him/herself (or a third party beneficiary) a fixed income for life. The annuity is a contract between the donor and the Episcopal Church Foundation, which guarantees a fixed income payable to the donor (or a beneficiary designated by the donor) for a period based on the age(s) of the donor(s) and/or named beneficiary(ies). The remainder principal passes to Incarnation Center.
POOLED INCOME FUND (MINIMUM GIFT $2500)
Combines or “pools” a donor’s gift together with others in a diversified investment portfolio managed by a team of professionals. Donors and/or designated beneficiaries receive an income for life based on their share of the return on the investments. Upon the death of the final beneficiary, the principal goes to Incarnation Center.
CHARITABLE REMAINDER TRUST (MINIMUM GIFT $100,000)
Establishes a tax-exempt irrevocable trust to which the donor transfers assets (cash, marketable securities, appreciated real estate or other assets) to the trust and in return receives income for life or a fixed term of up to 20 years. At the death of the final income beneficiary (or end of the term) the remainder goes to Incarnation Center. Individuals can choose either the charitable remainder unitrust (CRUT) where the income varies with the value of the trust, or the charitable remainder annuity trust (CRAT) in which the income is fixed over the life of the trust.
Other Charitable Gifts
RETIREMENT ACCOUNTS
When folks designate individual people as beneficiaries of their tax-deferred retirement accounts (401K’s, 403B’s, IRA’s, etc.) there can be very heavy tax on these assets when the owner dies. Some people may want to consider making Incarnation beneficiary of these funds, as charities do not pay these taxes, thus creating an important and substantial legacy gift. Better to go to Ivoryton than to Uncle Sam!
LIFE INSURANCE
You could make Incarnation Center a full or partial beneficiary of existing life insurance policies by simply filling out a change of beneficiary form. Or you could purchase a new or transfer an existing policy and name Incarnation as the owner and beneficiary. You can get additional deductions for the value of a current policy and for your contributions toward premiums.
CHARITABLE LEAD TRUST
For wealthier individuals who are seeking to do estate planning with assets of $1 million or more, this gift enables you to transfer assets to a trust that pays income (donor/trustees determine the payout rate) to Incarnation for a set term of years. At the end of the term, the remainder transfers back to you or to your heirs. The donor receives a number of tax benefits, and may pass on substantial appreciated assets outside of one’s estate.
CHARITABLE LIFE ESTATE CONTRACT
This contract lets you deed real property to Incarnation while maintaining the right to live in the property until death. You can receive a tax deduction but you continue to pay for maintenance, taxes, insurance, etc. on the property. Vacation property and domiciles, but businesses may not. This can be a complex transaction, so please contact Peter Larom at Incarnation Center for more information.
We are grateful for you taking the time to consider creating a legacy for the benefit of Incarnation. It is the generosity of many people in the past which has made it possible for Incarnation’s 130 year history of service. We hope that you will help us continue to add many more years to that tradition. Your investment will benefit over 15,000 guests, students and campers that use our facility yearly. God bless you in your thoughtfulness and giving.
For more information on any of these gift opportunities, please contact:
Our Executive Director, Nancy Pilon, [email protected].