Other Gift Options
Discover the best planned gift to meet your goals by understanding which assets to use and ways to structure your gift that maximize tax and income benefits.
Gifts of Cash
Writing a check or paying by credit card to Historic Deerfield is the simplest and most direct way to make a donation. Cash donations have an immediate impact on our mission and may entitle you to a current year income tax deduction. Click here to donate online today .
You may be able to double your gift to Historic Deerfield if the company you work for, or have an association with, has a matching gift program. Check with your employer’s Human Resource Department. Send the matching gift form provided by your employer to the Historic Deerfield. Historic Deerfield will give you credit for both your gift and your company’s matching gift. You may be able to deduct the portion you contribute on your federal income tax return.
Gifts of Securities
Making a gift of appreciated securities can be more advantageous than giving cash. By making a gift of securities, you may be able to avoid paying capital gains tax; you may receive a charitable income tax deduction, and your contribution will be put to use in furthering our mission today. Please contact Jesse Vanek, Director of Development, at (413)-775-7177, for specific instructions on how to make an electronic transfer of securities.
Your Bequest to Historic Deerfield, Inc. can help the preservation of the rich history of our mission in perpetuity. A Bequest, or testamentary gift as it is sometimes called, is the simplest and most popular way for donors to make a significant, lasting gift. It also enables you to make a major gift that might not otherwise be possible – and a bequest may also significantly reduce the federal estate tax due at death. Click here to learn more about bequests to Historic Deerfield.
Qualified retirement plan assets are the most tax-burdened assets you can own. Many people do not realize that if they die with no surviving spouse, any remaining balance in their qualified plan will be subject to multiple levels of taxation -- including federal estate tax, income tax, state inheritance tax, and even generation skipping tax -- that can claim 50% or more of its value. It is often advantageous, therefore, to donate such assets to charitable organizations. This can be done by naming Historic Deerfield the beneficiary of all or a portion of your retirement plan, by gifting any remaining plan assets through your will, or by directing remaining plan assets into a testamentary Charitable Remainder Trust that provides income to your heirs for life or a term of years, after which the principal reverts to Historic Deerfield. The Development Office can assist you in developing an approach that best meets your needs.
It is easy to name Historic Deerfield as the beneficiary of a life insurance policy. Just fill out a Change of Beneficiary form available from your insurance provider and give us a copy for our records. There is no immediate tax deduction available for this gift, but you will have the satisfaction of knowing that Historic Deerfield will eventually benefit and your estate will receive an estate tax deduction. You can also transfer ownership of a paid-up policy to Historic Deerfield and receive a tax deduction now for the cash surrender value (technically, the “interpolated terminal reserve value”) of the policy on the date of transfer. In certain cases, you may arrange to give a partially paid-up policy to Historic Deerfield, receive a deduction for the cash surrender value of the policy, and deduct any premium you continue to pay. The Development Office can assist in developing a strategy that best meets your needs.
Life Income Gifts
If you are considering making a gift to Historic Deerfield, but are concerned about giving up a portion of your income, a life income arrangement may be advantageous for you. For example, if you were to transfer cash or marketable securities to Historic Deerfield, you could receive fixed income payments for the remainder off your life, an immediate tax deduction, and reduced estate tax exposure. If you transfer appreciated property, such as securities or real estate, you will eliminate or greatly reduce the capital gain tax you would otherwise owe on the appreciation if you sold the asset. If you transfer low yielding property such as securities that pay a small dividend, you may actually increase your income from the asset.
Historic Deerfield offers a variety of life-income plans, including Charitable Gift Annuities and Charitable Remainder Trusts that can benefit both you and Historic Deerfield. The Development Office will be glad to work with you in identifying an option that will maximize your tax and estate advantages and meet your specific objectives.
Gifts of Personal Property
Gifts of valuable personal property -- such as works of art, antique furniture, books, jewelry, collections -- can benefit both you and Historic Deerfield. Such gifts, provided they qualify under IRS related use rules, can reduce your estate tax liability and qualify you for an income tax deduction based on their full appraised value. If you are interested in making a gift of personal property, please contact the Development Office to determine if the property is appropriate for Historic Deerfield’s museum collections.
Charitable Lead Trust
In a Charitable Lead Trust, you are able to retain ultimate possession of an asset while making a generous gift to Historic Deerfield. The “lead” income is paid first to Historic Deerfield with the remainder returned to you, the grantor, or to someone else such as heirs or designated beneficiaries at the end of the trust period. Typically cash or securities are transferred to a trustee and placed in a trust for a period of years with a specific amount of income being paid to Historic Deerfield each year. The income may be a fixed percentage of the value of the property valued annually (Charitable Lead Unitrust), or a fixed percentage of the initial value of the property transferred (Charitable Lead Annuity Trust). The Development Office will be glad to provide additional information and work with you to confirm whether this unique gifting option can meet your specific objectives.
Gifts of real estate, including homes, commercial buildings, farms, parcels of land, and mineral rights, can be an extremely advantageous way to give to Historic Deerfield. You can gift your whole property or an undivided fractional interest in the property to Historic Deerfield, fund a life-income arrangement with all or a portion of your property, or even transfer ownership of a residence and retain the right to reside there for the rest of your life, after which it reverts to Historic Deerfield for sale. Gifts of real estate through your Will are also welcome. If you are interested in making a gift of personal property, please contact the Development Office to determine if the property is appropriate for Historic Deerfield’s use.
Historic Deerfield is here to help you with your planned giving questions. Please contact Jesse Vanek, Director of Development, at email@example.com or (413) 775-7177. Historic Deerfield also strongly encourages you to consult with your attorney when considering a planned gift.
As with any decision involving your estate plans, we urge you to seek the advice of professional counsel when considering a gift to Historic Deerfield.