Planned gifts can benefit both the donor and the Maine Island Trail. They should be made only after consulting a financial advisor, attorney, or estate planning team. The Maine Island Trail Association (MITA) will be pleased to work with you and your advisors.
Potential benefits of planned gifts:
– Increase current income for the donor or others
– Reduce the donor’s income or capital gains tax
– Pass assets to beneficiaries at a reduced tax cost
– Help sustain the Maine Island Trail
Planned gifts include:
Appreciated Securities: A gift of appreciated stock receives an income tax deduction equal to its current market value. There is no capital gain tax when stock is transferred. Please click here for further information on how to make a gift of stock.
Bequests: One of the simplest ways to make a planned gift is to include a statement in your will that a share of your estate will be distributed to the Maine Island Trail Association for the purpose that you name.
Tax-Free Distributions from your IRA to MITA (Qualified Charitable Distributions): Individuals 70 ½.or older can donate as much as $100,000 from their individual retirement accounts to MITA. The distributions are tax-free and count toward the required minimum distribution that IRA holders in that age group must take from their accounts each year.
IRAs, Retirement Funds, or Annuity Contracts can include MITA as the beneficiary of the account and provide an opportunity to save income and estate taxes and maximize bequests to family.
Life Insurance: A donor can deduct insurance premiums by assigning a life insurance policy to the Maine Island Trail Association as owner and beneficiary. When the policy is redeemed, a permanent fund is created to support the donor’s charitable goals.
Charitable Remainder Trust: Provide variable lifetime income and an immediate income tax deduction. They also bypass capital gains taxes and can reduce estate taxes. The charitable remainder benefits charities of your choice or reflects your fields of interest.
Charitable Gift Annuities: Provide a guaranteed fixed lifetime income that is partially tax-free, an income tax deduction, and attractive income rates. The charitable remainder benefits the charity (ies) of your choosing. Minimum contribution: $25,000.
Charitable Lead Trusts: Provide income to your fund at the Foundation for a period of years, as well as substantial income and estate tax benefits. They also maximize assets that eventually pass to your family.
Real Estate: Can make an excellent charitable gift. Donors may avoid or reduce capital gains tax on appreciated property while receiving full market value for their charitable gift.
Letter of Intent: to let us know if you have already provided for MITA in your estate plan.
For more information, please refer to our Gift Acceptance Policy.