A planned gift is any gift given for any amount, given for any purpose—operations, capital project, or endowment—whether for current or deferred use by Call of the Sea, which requires the assistance of a professional staff person or the donor’s advisors to complete.
While the most common planned gift is typically made through a bequest in a person’s will or living trust, there are a range of other options to consider. The following are a few ways to make a planned gift to support Call of the Sea in perpetuity. Please contact Matt Grigorieff to learn more about the various options at firstname.lastname@example.org.
A GIFT IN YOUR WILL OR LIVING TRUST
A simple charitable bequest can provide very meaningful support for our mission as well as reduce the amount of estate and inheritance taxes paid. Bequests may be specific assets or amounts, or they may be proportional or residual in nature.
A GIFT OF A NEW OR EXISTING LIFE INSURANCE POLICY
Many people have life insurance policies that are no longer needed for their original purposes. Such policies can be given to Call of the Sea and an income tax deduction can be taken for the cash surrender value. Plus, the annual premiums on a new or existing policy given to the organization irrevocably may also be tax-deductible.
A BENEFICIARY DESIGNATION ON YOUR LIFE INSURANCE POLICY
Without giving up ownership of your life insurance policy, you can still designate Call of the Sea as a whole or partial death beneficiary. Contact your insurance company for a Change of Beneficiary form.
A GIFT OF FINANCIAL ACCOUNTS
Most checking, savings and brokerage accounts can be bequeathed through a simple “payable on death” designation with your financial institution.
A GIFT OF RETIREMENT BENEFITS
Naming Call of the Sea as primary, partial or contingent beneficiary of your retirement plan is a simple, practical gift idea. Contact your plan custodian for the proper beneficiary change forms.
A GIFT OF SAVINGS BONDS
Many people have fully appreciated savings bonds. These assets cannot be donated during your lifetime without first being converted to cash and, therefore, generating taxable income. By making a gift of savings bonds through your will, you can avoid this tax and support life changing experiences at sea for generations of children.