Did you know you can make a gift to support the natural world you love while also providing yourself or loved ones with income and significant tax savings? As Frances Jo Baker discovered, life-income gifts are a smart way to support the Conservancy’s work and take care of your financial future as well.
When Frances Jo Baker funded two life-income gifts with donations of appreciated stock, she received a stream of income for her retirement as well as an income tax deduction. In addition, she paid no capital gains taxes all while helping preserve the South Carolina lands and waters she treasures.
Jo traveled around a lot when she was growing up, and wherever she went, she was always outside exploring nature—from Medicine Creek in Oklahoma to the wetlands of South Carolina. Now that she is settled in South Carolina, she is still captivated by its beautiful, vibrant wetlands and is committed to doing all she can to protect them.
That, she explains, is why she is a member of The Nature Conservancy. She is impressed with how effectively the Conservancy works both in South Carolina and around the world to protect the natural places she cares so much about.
A few years ago, Jo began thinking about the future and her retirement. A self-proclaimed novice in financial planning, she had some appreciated stock, but wasn’t sure how best to proceed.
“I knew I needed to have some income for retirement, but I also wanted to continue to support the Conservancy,” she says.
Jo contacted the gift planners at the Conservancy who walked her through some gift options. With their help, and input from her advisors, she decided to fund two different life-income gifts using her stock.
She used a portion of the appreciated stock to fund a charitable remainder unitrust. The trust provides her with variable income that has the potential to grow during her retirement. To balance the variable payments from the trust, she set up a charitable gift annuity which provides her with a fixed stream of income that she can be sure of. And for both gifts, she received significant tax savings.
“I never would have known to even consider these kinds of gifts without the help of the Conservancy—they were easy to work with and helped me understand the process and benefits,” Jo says.
“Now I know I’ll be taken care of. But most of all, by supporting the Conservancy’s work to preserve the natural world, I feel like I am leaving something to the children of generations to come.”
Whether you are looking to supplement your income or plan for retirement or the needs of loved ones, you can establish a life-income gift with a donation of cash, appreciated securities or real estate. Depending on your individual situation, you can customize your life-income gift to meet your needs. Charitable gift annuities provide fixed, dependable income, and charitable remainder trusts offer variable income and may provide a hedge against inflation as payments may rise over time.
Either way, you receive a charitable income tax deduction, and if you fund your gift with appreciated securities or real estate, you may save on capital gains taxes too. Best of all, your gift helps to preserve the lands and waters you love.
For a personal proposal, please contact our Gift Planning Team today.
Read about more donors who have made life-income gifts.
Find out how making a charitable gift annuity can support you and nature.
You can protect lakes and other natural places by making a planned gift with The Nature Conservancy. Contact us today.March 11, 2013