A charitable gift annuity is an irrevocable transfer of cash or appreciated assets to The Nature Corps in exchange for a fixed income for life. Charitable gift annuities may be immediate or deferred and last throughout the lifetime of one or two beneficiaries. The rate of return is determined by your age at the time payments begin. At the death of the annuitant, the proceeds of the annuity are disbursed to The Nature Corps. In addition to receiving life income, there are federal tax benefits available.
Gifts of appreciated stock or other securities can be a mutually beneficial way of contributing to The Nature Corps—allowing you to make an immediate to benefit our National Park programs while receiving a double tax benefit.
When you donate appreciated securities that you have held for at least one year, you can deduct the full fair market value of the securities on your federal income tax return and you completely avoid any capital gains taxes that would have been due had you sold the securities. The key is to transfer the assets to The Nature Corps and let us sell the stocks, bonds, or related securities.
If you or your broker sells the asset and donates the proceeds, you will be required to pay the capital gains taxes due. The Nature Corps is able to sell or trade your gifted assets, without tax liability, and put all the proceeds toward preserving the National Parks.
Donating stock to The Nature Corps is simple and straightforward, usually involving a wire transfer of shares from your brokerage account into The Nature Corps’s brokerage account:
Once the stock is received, The Nature Corps will send you a thank you letter for your gift confirming the type of stock, number of shares, and the date on which the stock transferred into our account. Your financial or tax advisor can assist you in determining the appropriate value of your stock. You will also need to include form IRS form 8283 with your federal income tax return in order to claim a charitable tax deduction for your gift of stock.
Also, if you hold stock that has depreciated, consider selling the stock and donating the proceeds to The Nature Corps. You will still be able to claim a charitable tax deduction for the market value of the stock based on the date that you transfer it to The Nature Corps, and you may be able to further reduce your income tax obligation by reflecting the loss in value on your federal tax return.
For more information or to initiate a gift of stock, bonds, or other securities call The Nature Corps at (800) 774-PARK.
The above information is provided for general educational and public benefit purposes only. Anyone viewing this material is strongly encouraged to seek counsel from a qualified legal, accounting, and/or financial advisor before applying any of the information and ideas presented within these web pages to his or her own particular situation.