Planned giving offers a wide range of gift options for people who
care about protecting open space. Because of the variety of tax
benefits that are designed to encourage charitable giving, planned
giving may enable you 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 planned gift to Schiff and creating a conservation legacy for our community.
If you have questions about any of these planned 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 |
Conservancy
Benefit |
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
is not recognized as income or subject to income tax.
Applies to charitable transfers made in 2009 only. |
| Cash
Gifts |
Outright
gift |
Gift available to Schiff immediately
for ongoing programs and activities. |
Income
tax deduction, possible capital gains tax avoidance. |
| Bequests |
Leave certain assets to Schiff 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 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 land protection efforts. |
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
us 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 |
