There are a wide range of gift options for people who care about protecting our rural landscapes. Because of the variety of tax benefits that are designed to encourage charitable giving, you may be able to give a more significant gift than might otherwise have been possible, while at the same time allowing you to receive a range of potential financial benefits.
Below is a summary of some of the options for making a gift to Schiff and creating a conservation legacy for our community.
If you have questions about any of these giving options or if you would like to make a gift to Schiff, please call the office at 973-543-6004. You should also consult your financial advisor about which options may be most beneficial for you.
| Gift
Type |
Description |
Benefit to Schiff |
Possible
Benefits to You |
| Charitable
IRA Rollover |
Individuals
who are at least 70 ½ years old may transfer up to
$100,000 from a traditional or Roth IRA to a 501(c)3
public charity. |
Funds
assist Schiff with meeting immediate conservation and programmatic
priorities. |
Transfer
may not be subject to income tax. |
| Cash
Gifts |
Outright
gift |
Gift
available to Schiff immediately for ongoing programs and
activities. |
Income
tax deduction. |
| Bequests |
Leave
certain assets to CLC in your Will |
Enables
Schiff to plan for future conservation projects and
activities. Bequests
of land
allow Schiff to create a public conservation area on your
property or to protect your property with an easement and sell
it to generate valuable proceeds. |
Allows
you to retain ownership and management of your assets
during your lifetime. |
| Tangible
Personal Property |
Gifts
of personal property such as automobiles or jewelry |
Proceeds
from sale of personal property go to benefit land
protection and stewardship programs. |
Full
value of items can be deducted from donor's taxable
income |
| Marketable
Securities |
Gifts
of securities such as stocks, bonds, and mutual fund
shares. |
Schiff will sell marketable securities and use the proceeds to further
its conservation programs. |
Tax
deduction based on the mean between the lowest and
the highest share price on the day of the transfer. |
| Charitable
Remainder Trust |
You
place assets in a trust, managed by an outside
trustee. The trust pays you income during your
lifetime, after which the remaining assets are given to Schiff. |
Allows
Schiff to plan for future land protection activities. |
Fixed
or variable income; part of gift is tax-deductible;
avoid capital gains on appreciated assets donated to
trust; flexible term (lifetime or set number of
years); opportunity to diversify assets; and
potentially increased income |
| Charitable
Lead Trust |
Annual
income from a trust is paid to Schiff during your
lifetime, after which the remaining principle are
given to
a non-charitable beneficiary (or beneficiaries) such
as children. |
Allows
Schiff to use the annual payments from the
trust to support its programs and activities. |
Reduced
income, gift or estate tax while ultimately passing ownership of the assets
along to family members. |
| Retained
Life Estate |
You
make a gift of real estate and retain the right to
live on the property for life or a set number of years. |
Allows
Schiff to plan for the property to become either a public
conservation area or to be sold, protected with a conservation
easement, to generate proceeds for
land protection work. |
Property
removed from taxable estate; income tax deduction;
avoidance of capital gains on transfer of property; retained
use of property |
