Giving to Bethany Land Trust Inc.
The Bethany Land Trust, Inc. is not just the little neighborhood group that gives pleasant nature seminars. We are a fully IRS recognized 501C3 publicly supported charitable organization, established in 1968, that holds real property for the benefit of the general public for conservation, education and recreational purposes. Donations to the Trust are tax-deductible donations to charity. Your donation to the Trust will be utilized 100% to do good works in your community. All our officers and directors are unpaid volunteers. If you donate to larger charitable organizations, consider donating funds to your local conservation organization, the Bethany Land Trust, Inc.
The most common way to give to the Land Trust is an outright gift.
Gifts of Cash are fully tax-deductible up to 50% of your adjusted gross income with a five year carry forward.
Gifts of Stock are fully tax-deductible. You do not have to pay capital gains tax on appreciated stock. Appreciated stock is generally tax-deductible in the first year up to 30% of adjusted gross income (remaining amounts may be carried forward for five years). Unappreciated stock is deductible in the same manner as cash.
Gifts of Real Estate are also generally fully tax deductible, and like appreciated stock, no capital gains tax need be paid. The donation is generally tax deductible in the first year up to 30% of adjusted gross income (remaining amounts may also be carried forward for five years). An independent qualified appraisal is required by the IRS for any charitable deduction of this kind. You can even give your home or land to the Trust while retaining a life use in it. There are some exceptions to the general deductibility rules, so you should always consult your personal tax advisor prior to making a gift.
A simple way to donate to the Trust is through your will. Gifts to the Trust are free of federal estate tax. Cash, stock and land can be donated by will. If you are donating land, we ask that you contact us first so that we can insure that your wishes will be fulfilled by the gift. Additionally, the Trust can be made a beneficiary of your IRA or life insurance. Gifts of real property which are to be protected by the Trust in perpetuity, are generally named for the donor or as the donor wishes.
An easement is an interest in land. Conservation easements are contracts which run in perpetuity to protect the conservation values of a particular piece of land. When you own property you have a variety of rights – like a bundle of sticks. You can give up some of those “sticks” in an easement. A Conservation Easement (also known as a Conservation Restriction) can be crafted to fit the needs of the parties. The retained rights can include the right to harvest timber, reserve a house lot, ride, hike, or farm, as long as they do not violate the essential conservation purpose of the easement. Easements can be given as a lifetime gift, bargain sale, or by will. If an easement is donated by will, the specific terms of the easement should be worked out with the land trust or the right to grant the post-mortem easement must be given by will to the executor of the estate.
If you would like to learn more about charitable giving, please call us. Remember, a donation to this local organization will give maximum value to your charitable giving. All our officers and directors are volunteers and your funds will be used in your home town. For the tax consequences of any specific gift you should consult a qualified accountant who is advised of your particular circumstances. The land trust makes no representations as to the tax consequences of any particular gift.
Remember the Land Trust in your will: Painless giving and a lasting legacy
Your current membership and contributions to the Bethany Land Trust help assure that the rural character of Bethany will be preserved and provide you with a sense of spiritual satisfaction. Including charitable gifts in your will or estate plan is another important way to meet these goals for yourself and for your family. Moreover, your family will have the satisfaction of knowing, and being able to tell the world, that you were a person who cared – that you wanted your death to be an occasion for rejoicing at the good we can do for each other as members of a community.
For the tax consequences of any specific gift you should consult a qualified accountant and attorney who are advised of your particular circumstances. The land trust makes no representations as to the tax consequences of any particular gift.
|© 2007 Bethany Land Trust, Inc.|