Immediate gifts in the amount of $5,000 or more (by check, or by credit/debit card), or appreciated securities, are income-tax deductible to the full extent provided by law. Immediate gifts may have additional tax advantages when made with appreciated, publicly-traded securities. Donors should seek advice from their legal and financial advisors.
The most typical of Planned Gifts are estate gift designations that take effect at the death of the donor but Planned Gifts may also have immediate benefits for the donor and the Center when made as a charitable gift annuity, a trust, or other arrangement. Please contact us for suggestions, or choose one of the options described below:
*Note: an advantage of retirement plan beneficiary forms and TOD beneficiary forms is that your designations flow directly as you instruct without going through probate or relying on an executor's discretion.
- A bequest in a donor's will is a way to direct that a specific dollar amount, percentage of your estate, the residuum in your estate, or a specific asset, be transferred to the Provincetown Center for Coastal Studies upon your death. Suggested language for bequests is provided here. Please note that when making beneficiary designations, you may choose to name the Provincetown Center for Coastal Studies as a contingent beneficiary, to receive all or part of a residuary estate in the event that primary beneficiaries predecease the donor.
- Donors may wish to consider establishing a testamentary trust, a charitable remainder trust, or a charitable lead trust to benefit the Provincetown Center for Coastal Studies. Please consult your legal and tax advisors.
- Other simple ways to make an estate gift designation include beneficiary designations in retirement plans such as IRA, 401(k), or 403(b) accounts: in most cases, to include the Provincetown Center for Coastal Studies in such an instrument, simply update the beneficiary designation form from your financial institution, allocate a percentage of your holdings to the Provincetown Center for Coastal Studies, and sign and return the form to your institution.*
- Another commonly-used estate gift designation technique is the "Transfer on Death" (TOD) form often used by investment firms for taxable accounts. Like the beneficiary forms used for retirement accounts, these TOD forms allow the donor to specify the percentages that would flow to the Provincetown Center for Coastal Studies, and to other beneficiaries.*
Other assets that donors may wish to direct to the Provincetown Center for Coastal Studies include "non-cash" assets such as residences, artwork, collectibles, non-publicly-traded securities, and life insurance. Disposition of these assets may have special requirements such as appraisals, agreements, and other due diligence. As with all charitable contributions, be sure to obtain legal and tax counsel.
Donors may wish to consider establishing a Charitable Gift Annuity to receive lifetime income with residual benefits to flow to the Provincetown Center for Coastal Studies upon the death of the donor. Please contact us with questions.