Gifts of assets other than cash can be a substantial and tax-wise way to support Trout Unlimited. Whether you donate land, stock, artwork, life insurance, or retirement assets, your gift always helps support the critical work of Trout Unlimited. Contact a TU gift planning professional to learn about the many different options.
- Appreciated Securities– donating stocks, bonds, or mutual funds to Trout Unlimited is a simple and tax-wise way to give. Simply transfer the securities to TU, and the organization will sell them and use the proceeds for conservation work. In most instances, a donation of appreciated securities (held for more than 1-year) receives both a charitable deduction for the full market value of the asset as well as no capital gains tax on the transfer.
- IRAs– If you are 70 ½ or older, you can make a tax-free distribution from your IRA to Trout Unlimited. These “Qualified Charitable Distributions” (QCD) allow individuals to donate up to $100,000 each year without incurring income tax on that amount of their withdrawal. It’s an efficient way to support TU, and can help individuals save significant taxes. QCDs must be made directly from the custodian of your IRA to Trout Unlimited, and must be received and cashed within the calendar year to satisfy your required minimum distributions. If you’re under the age of 70 ½ you can still support Trout Unlimited with your IRA. Simply make a withdrawal and donate the proceeds after taxes. Please consult your tax and/or financial advisors prior to making these gifts.
- Personal Property– Do you have an asset that you don’t use, that is costly to insure and/or maintain? Making a gift of tangible personal property to Trout Unlimited can be a smart way to save on costs while supporting the organization’s work. TU may sell the item to fund conservation work, or hold the property for use or display. For example, an individual who wants to support TU and preserve cash can give an antique bamboo fly rod, valuable piece of artwork, or boat.
- Real Estate– If you are thinking of selling land, a residence, or a building, consider making a gift to Trout Unlimited. Donating real estate gives the donor a full fair market value tax deduction of the property, and if it’s a primary residence, could eliminate costly capital gains. For example, if you sell your primary residence, you can exclude up to $250,000 ($500,000 if you are married) of capital gains tax. Other benefits range from avoiding the hassle of selling or managing a property, to reducing the size of your taxable estate.
- Life Insurance– Whether it be recently issued, existing, or paid-up, gifting a life insurance policy to Trout Unlimited is another way to support the organization you love. Individuals may find that they no longer need the coverage they initially purchased, and when you name TU as an owner of a life insurance policy, you receive a charitable income tax deduction. You may also name TU as a beneficiary of a policy and maintain its ownership, but either way, you support conservation and reduce your taxable estate.
- Retained Life Estate– You can give Trout Unlimited your home and continue living there for the rest of your life. This type of gift is called a retained life estate. Here’s how it works: you give a personal residence or farm to Trout Unlimited, but retain the right to occupy it for life. The property doesn’t have to be your primary home, but it must be a personal residence. You’ll still pay property taxes, maintenance costs and insurance, but will receive numerous tax benefits.