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Legacy Gifts & Gift Planning - Overview

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Overview

Legacy Gifts and Gift Planning

Have you ever thought about what type of legacy you would like to leave for future generations? Have you ever wondered how you can make a difference in your own community and region?

Incorporating Sanctuary Friends Foundation of the Florida Keys in your estate plan will allow future generations to explore and enjoy the unique character of our Florida Keys National Marine Sanctuary. Making a planned gift is also an important way for you to maximize the financial rewards of your philanthropy. There is a wide range of tax and income incentives the federal law provides to encourage your generous support of SFFFK.

Planned giving is a set of philanthropic tools that can advance your own financial objectives while supporting the critical work of SFFFK. We invite you to learn more about SFFFK’s planned giving options. We would welcome the opportunity to talk with you and your advisors about planning a gift strategy that is appropriate for your personal objectives.

    • Discover ways to make larger gifts than you may have thought possible.
    • Learn how to make gifts that actually "give back" for a time, providing extra income in retirement years or helping to fund elder care, educational expenses and other needs of loved ones.
    • Add special meaning to your gift by making a gift that honors a special friend or loved one.
    • See how to potentially save money on income, gift, and estate taxes and instead put those amounts to use in ways you choose.


That's what effective gift planning is all about. It just makes sense to make the most of what you have by preserving financial security as you make a positive impact through SFFFK. If you're considering making a planned gift to Sanctuary Friends Foundation of the Florida Keys, we'd be happy to talk to you about your goals. If you've already made a planned gift to SFFFK, please let us know so that we can appropriately recognize your generosity. Please contact us through our online form.

The Choice of What to Give

Enjoy More Savings
You can become an SFFFK supporter by choosing to give in forms other than cash. Examples include:

    • Securities (stocks, bonds, mutual funds)
    • Real estate
    • Retirement plans
    • Life insurance policies.

After considering the properties you own, you may find giving something other than cash to be an appealing alternative. Giving non-cash property enables you to help SFFFK while conserving cash for other uses.

Giving Appreciated Property
If you have non-cash assets, such as real estate, stocks and mutual funds, that have grown in value (appreciated) and have been held long-term (more than one year), you can generally enjoy tax savings from giving such property.

Flexible to Meet Your Needs
The donation of appreciated property offers significant tax advantages:

    • Appreciated Stocks, Bonds and Other Securities – may allow a tax deduction for the full value of the security at the time of the gift without incurring capital gain taxes.
    • Appreciated Real Estate – may be able to deduct the full fair market value without being assessed capital gains taxes if you have held the property for at least one year.

Gain As You Give
Here is an example of how easy it is to give appreciated property and enjoy tax benefits:

    • Donor owns 30 acres of land, originally bought for $50,000.
    • Current appraised value of the property is $250,000.
    • By donating this property to Sanctuary Friends, the entire gain of $200,000 escapes Capital gain tax liability. This enables the donor to receive a full tax deduction for the entire value of the gift: $250,000.
    • Additionally, Sanctuary Friends can immediately use the funds from its sale of the land to support its efforts to restore and protect our national treasure the Florida Keys National Marine Sanctuary.

 

Giving Depreciated Property
You have the potential to save more in taxes by selling these decreased assets and giving the proceeds.


Market Uncertainty
If you are concerned about market fluctuations, you may be interested in strategies that can lock in today's current value on a "tax-preferred" basis, provide a fixed or variable income, and other benefits. If so, see "Gifts that provide Cash Flow."

 

Goals and Benefits of Chartiable Giving to Sanctuary Friends Foundation of the Florida Keys (SFFFK)



YOUR GOALS YOUR STRATEGY YOUR BENEFITS
Maximize your deduction; minimize the gift details Use cash to make your gift to SFFFK Claim your deduction against a larger portion of your adjusted gross income and make an immediate impact on SFFFK
Afford a larger gift to SFFFK - and avoid capital gains liability Give appreciated stock or bonds held over one year Buy low and give high - make a gift that costs you less than the benefit it delivers to us, while avoiding capital gains tax
Make a gift for SFFFK future that doesn't affect your cash flow or portfolio now Put a bequest in your will (cash, specific property, or a share of the estate residue) Today - a gift that costs you and your family nothing. Tomorrow - an estate tax deduction
Retain income benefits from the assets you give to SFFFK - thus afford a larger gift Create a charitable remainder annuity or unitrust Receive income for your lifetime; receive a charitable deduction; diversify your holdings
Reduce gift and estate taxes and control the timing of passing assets to your children and grandchildren Create a charitable lead trust, which supports programs at SFFFK for a fixed, finite period with the principal going to your heirs. Reduce gift and estate taxes, and freeze the taxable value of growing assets before they pass to your family
Use a potentially overlooked asset with tax liabilities to give to SFFFK Name SFFFK as beneficiary of your retirement plan; leave other assets to family Eliminate income tax on retirement plan assets; free up other property to pass to your heirs
Make an endowment gift by using estate taxable life insurance
 Create a new life insurance trust, or donate a paid-up policy whose coverage you no longer need Increase your ability to make a significant gift to SFFFK



The information on this site is for educational purposes only and is not intended as legal, tax or investment advice. If you are considering a planned gift to the Sanctuary Friends Foundation of the Florida Keys, we highly recommend you consult with your own tax and legal advisors to determine the best options for you.



For additional information, please contact us through our online form