ways-of-giving

Ways of Giving

Current Gifts

Cash

Gifts of cash are always welcome and the simplest form of giving to The Plymouth Harbor Foundation.  Be sure to indicate in the notes section of your check which fund you wish your gift to benefit.

Publicly-traded Securities

Gifts of appreciated stock and bonds may offer tax benefits, including capital gains tax savings.

Retirement Assets

If you are 70-1/2 or older, you may consider using funds from your IRA as a charitable gift.  During the past several years, the IRS has allowed individuals who are 70-1/2 or older, and are required to take a minimum distribution, to roll over up to $100,000 annually from their IRA directly to a charity.  While you cannot claim a charitable deduction for the IRA gift, you will not be required to pay income tax on the amount you roll over.

Life Insurance

An existing life insurance policy is another way to make a charitable gift. You can either transfer the paid-up policy by naming us the owner and beneficiary or simply list The Plymouth Harbor Foundation as the beneficiary.

Real Estate

Giving property as a charitable gift provides multiple benefits to both you and The Plymouth Harbor Foundation. In most cases, your charitable deduction is based on the fair market value of the property at the time you make your gift. If you are interested in making a charitable gift of real estate, please contact us.

Appreciated Property

Gifts of tangible items such as art objects, jewelry, silver, and collectibles may be donated subject to approval by The Plymouth Harbor Foundation.  You may claim a charitable gift deduction on your income taxes based on the full market appraisal value of the gifts (tax deductibility will vary).

 

Deferred Gifts (Planned Giving)

Bequests and Revocable Trusts

Naming The Plymouth Harbor Foundation as a beneficiary in your will or trust is an uncomplicated and generous way in which to make a charitable gift.  You may change your will or trust provisions at any time, and gifts are not payable until after your death.

Suggested wording for your will.

“I hereby give, devise, and bequeath to The Plymouth Harbor Foundation, located at 700 John Ringling Blvd., Sarasota, FL 34236, an unrestricted gift to be used in the area of greatest need at the time the gift is received (or *a restricted gift, to be used for **please specify**):

  • the sum of $___________, or
  • a portion of my estate totaling __%, or
  • the following described personal property ______________.

 

Charitable Gift Annuities and other Irrevocable Gifts
Gifts that generate income to you or your family during your lifetime, while also providing for The Plymouth Harbor Foundation after your death, offer unique tax benefits.

Charitable Gift Annuities

Charitable gift annuities provide a variety of benefits for the donor.  The process is that you make an irrevocable gift (usually $1000 minimum), the monies are invested, and you receive income payments for life.  When you die, the remaining principal of your gift goes to the charity (or charities) you have designated.  The income you received (usually between 5% and 9%) depends on your age at the time you fund the gift.  The older you are, the higher the rate of return. You receive a charitable income tax deduction in the year you fund the gift, and a portion of your income payments are tax deductible in subsequent years.

Charitable Remainder Trusts

With a charitable remainder trust, you can receive income for the rest of your life. Your income can be variable or fixed and after your lifetime, the balance in the trust passes to the charities of your choice.

Charitable Lead Trusts

A charitable lead trust is an arrangement whereby the income from the property or investment is received by the charity (in this case The Plymouth Harbor Foundation) while the donor is living.  Upon the death of the donor, the principal passes to other pre-determined parties, as designed by the donor.

Endowed Gifts

Donors wishing to support our mission in perpetuity may create a named endowed fund.  Named endowed funds may be created with a minimum gift of $25,000.  Endowed funds are invested and only a portion of the income is spent annually.  The remainder of the income is reinvested so that the fund will grow and maintain value into the future.  An endowed fund can be established with an immediate gift, payments over a five-year period, a charitable gift annuity, or through a bequest.

Tribute Gifts (In Memory or Honor)

Tribute giving takes charitable giving a step further, by making a gift in someone’s name, either in memory or in honor of an individual or group, or in celebration of an occasion, such as an anniversary, birthday, or event.  The Plymouth Harbor Foundation is delighted and grateful to accept these gifts.

Gifts In-Kind

Gifts In-kind, such as business inventory, personal property, or other products and services, are accepted when the form of the gift can be used immediately by The Plymouth Harbor Foundation, or sold for benefit of the Foundation.  Value of the contribution must be set according to IRS regulations, and that value will be added to the donor’s gift record.