As a non-profit, the Grizzly & Wolf Discovery Center depends on your generosity and goodwill to carry out our mission. We are pleased to offer three Planned Giving methods that can minimize your taxes and your support:
Honorary and Memorial Gifts
This is a simple and common way to honor a loved one, living or not, support our continuing efforts, and receive personal financial benefits from your contribution. An outright gift is fully tax deductible and usually exempt from capital gains tax if itemized in the year of contribution. You can also include a bequest in your will or living trust in honor or memory of your loved one, stating that a specific asset or percentage of your estate will pass to us at your death.
Many assets such as retirement plans, insurance policies and annuities, and employee benefit plans can be given to charitable organizations. When you donate taxable assets to a charitable purpose we can keep the full amount of your distributions because of our tax-exempt status, and you can give more of your tax-free assets to your heirs. It usually takes only a new form and a signature to modify the beneficiaries of these assets to meet your changing needs.
There are generally three steps involved in making a bequest.
First you should decide what to give:
A specific bequest gives a particular gift or piece of property. If this named property or asset has been disposed of before your death, we won’t receive your intended gift.
A contingent bequest requires a specific event to occur before your gift is given. For example, you could bequeath funds to a family member if that person survives you; if not, that gift could then go to the GWDC.
A general bequest gives a stated sum of money. If your estate does not have sufficient cash to cover the bequest, other assets will be sold to honor your wishes.
A residuary bequest gives a percentage of your residual estate after all other bequests, debts, and taxes have been paid. If you name the Center in a residuary bequest, the “rest, residue, and remainder” of your estate will be given as your gift.
Second, decide whether you would like to give an unrestricted or a restricted bequest.
An unrestricted bequest allows the Center to use assets in the most beneficial way, and a restricted bequest allows you to specify how the funds will be used. You should contact us in advance to be certain your intent can be fulfilled.
Third, meet with your estate planning attorney.
You may need to create a will or trust, or modify an existing document but be aware of complex legal and tax issues involved, and plan accordingly.
If we can provide you with further information about gifts that fit with your lifestyle and philanthropic goals, call 800 257-2570 or email [email protected].
Thank you for supporting the Grizzly & Wolf Discovery Center, in the past, present, and future.
The information on this website is not intended as legal or tax advice. The GWDC urges you to consult an attorney or financial advisor of your choosing