Thank you for considering to include Camp Tecumseh in your estate plans by becoming a member of The Alexander Grant Society. Your thoughtful planning will help build a bridge to Tecumseh’s future. We hope the following information will inspire you to make an impact at Tecumseh and help future generations of Tecumseh campers become tomorrow’s leaders–even as it helps you and your family gain financial and tax benefits. Planned gifts provide a variety of ways to support Tecumseh that benefit you, your love ones, and Tecumseh all at the same time.
LOI – Estate Gift Form
Review the following information below and if you would like to receive more information on becoming a member of Tecumseh’s planned giving society, please contact our Head of Community Impact, Billy Kampmann @ (908) 310-6134 or firstname.lastname@example.org
Adding Tecumseh to your will
- A majority of planned gifts are in the form of a will, or simple bequest. If you wish to include Camp Tecumseh as part of your estate planning, you may do so by naming Camp Tecumseh as a beneficiary under your will or revocable living trust. However, if your present planning documents are already in place, you may wish to consider adding a brief codicil or amendment to either document.
- Sample Language for a specific amount: I, _________, hereby give and bequeath to Camp Tecumseh, of Moultonborough, New Hampshire, the cash sum of $_____ dollars [or substitute specific shares of stock or other property], for such needs of the Camp as its Board of Trustees may determine.
- Sample Language for a percentage amount: I, _________, hereby give, devise and bequeath to Camp Tecumseh, of Moultonborough, New Hampshire, an amount equivalent to _____ percent of the balance of my residuary estate, for such needs of the Camp as its Board of Trustees may determine.
- Charitable Remainder Trusts
- Details: You transfer cash, securities, or other appreciated property into a trust. The trust makes fixed annual payments to you or to beneficiaries you name. When the trust terminates, the remainder passes to Tecumseh to be used as you have directed.
- Benefits: Receive income for life or a term of years in return for your gift. Receive an immediate income tax deduction for a portion of your contribution. Pay no upfront capital gains tax on appreciated assets you donate. Your trust can meet personal or family needs that are tied to a specific time frame, such as tuition payments.
2. Charitable Lead Trusts (reduces size of taxable estate; keeps property in family, often with reduced tax gifts)
- Details: You contribute cash, securities or other property to a trust. The trust makes fixed annual payments to Blair for a specified term of years. When the trust ends, the remaining principal goes to your heirs.
- Benefits: You qualify for a gift tax deduction for the present value of the annuity payments to Camp Tecumseh. The annuity payments and the term of the trust can be specified in such a way so as to reduce or even eliminate the transfer taxes due when the principal reverts to your heirs. All appreciation that takes place in the trust goes tax-free to your heirs. You can use your available estate tax credit to further reduce taxes on transfers to your heirs. You can have the satisfaction of making a significant gift to Tecumseh now that reduces the taxes due on transfers to your heirs later.
Charitable Gift Annuity
- Through a contract between Tecumseh and the donor, Tecumseh agrees to pay the donor, or other person named by the donor, a lifetime annuity in return for a gift of cash or publicly traded securities. The minimum amount of an annuity agreement shall be $50,000. Charitable gift annuities may be accepted by Tecumseh following close consultation with Tecumseh’s auditors, financial advisors, and legal counsel. For further information, please contact our Head of Community Impact, Billy Kampmann, at (908) 310-6134 or email@example.com
Using your IRA to donate to Tecumseh now
- The popular IRA charitable rollover is now called a qualified charitable distribution (QCD), and might be a good way for you to give to the Camp now. If you have a traditional IRA, you will probably be required to begin taking minimum distributions (RMD) at age 72. Income tax is due on those withdrawals unless the check comes directly to a qualified charity like Camp Tecumseh. If you plan to support a charity like Tecumseh, this might be a way to optimize your gift using pre-tax dollars.
- Requirements to give to Tecumseh tax-free from your IRA:
- You must be 70½ years old or older
- Gifts from $1 up to $100,000 per individual ($200,000 per couple) will count toward your required minimum distribution (RMD) for a given calendar year
- The gift will not be included in your income for tax purposes (at the same time, it will not be available as an income tax charitable deduction)
- The check from your IRA must be made payable to Camp Tecumseh
- NOTE: The CARES Act, enacted on March 27, 2020, please consult with your financial advisor to learn how the new law will affect your personal financial situation
IRAs, Retirement Plans, & Life Insurance
- IRAs: The impact of income and estate taxes on your IRA make it a favorable asset to contribute to Camp Tecumseh through a beneficiary designation. Give us assets subject to double taxation, then leave more to your family.
- How it Works: Name Camp Tecumseh as a beneficiary of your IRA, 401(k), or other qualified plan. Designate us to receive all or a portion of the balance of your plan through your plan administrator. The balance in your plan passes to Tecumseh after your death and/or your beneficiary’s death.
- Details: Avoid the double taxation your retirement savings would face if you designated them to your heirs. Continue to take regular lifetime withdrawals. You have flexibility to change beneficiaries if your family’s needs change during your lifetime.
- Gift of Life Insurance: You don’t need a large estate to make a significant gift to Camp Tecumseh. Here is one way how you can leverage your dollars for a larger gift.
- How it works: You transfer ownership of a paid-up life insurance policy to Camp Tecumseh. Tecumseh elects to cash in the policy now or hold it. Or make Tecumseh a beneficiary of your life insurance policy.
- Details: Make a gift using an asset that you and your family no longer need. Receive an income tax deduction. In some cases, you can use the cash value in your policy to fund a life-income gift.
- Real Estate: Camp Tecumseh will only accept real estate after performing a substantial amount of due diligence in which the donor must provide an appraisal of the property, real estate deed, real estate tax bill, plot plan, substantiation of the zoning status, and an environmental site assessment. Please contact our Head of Community Impact, Billy Kampmann @ (908) 310-6134 or firstname.lastname@example.org for more information.
- Tangible Personal Property: Camp Tecumseh will only accept tangible personal property after performing a substantial amount of due diligence. Please contact our Head of Community Impact, Billy Kampmann @ (908) 310-6134 or email@example.com for more information.