Chart Your Course and the Future of the Maine Island Trail
Further your financial goals and help sustain the Maine Island Trail with careful and creative gift planning. Planned giving can maximize the impact of your philanthropy in a way that fits with your financial, tax and estate planning situation, regardless of your means. See below for information on options that offer a variety of benefits.
Potential benefits of planned gifts:
– Increase current income for the donor or others
– Reduce the donor’s capital gains or income tax
– Pass assets to beneficiaries at a reduced tax cost
– Help sustain the Maine Island Trail in perpetuity (planned gifts support MITA’s stewardship endowment)
Planned gifts include:
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.
Beneficiary Designations: You can designate MITA to receive assets such as an investment or retirement account, a life insurance policy or a donor advised fund, among others. This option can provide an opportunity to save income and estate taxes and maximize bequests to family.
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.
Charitable Remainder Trust: CRTs provide variable lifetime income and an immediate income tax deduction. They also bypass capital gains taxes and can reduce estate taxes.
Charitable Gift Annuities: CGAs provide a guaranteed fixed lifetime income that is partially tax-free, an income tax deduction, and attractive income rates.
Real Estate: 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.
Boat Donations: MITA accepts donations of boats to support stewardship of Maine’s wild coastal islands. Working with professional brokers, we will convert your donated boat into funding that supports MITA’s mission. We accept select seaworthy boats of all types – power, sail or paddle. See here for current listings: mita.org/boatsforsale.
Please let us know if you have already provided for MITA in your estate plan. For more information, please refer to our Gift Acceptance Policy.