Planned giving allows individuals to make a lasting contribution to Core Sound Waterfowl Museum & Heritage Center and the Down East Carteret County community.
Bequest by Will
A legacy of giving
Including a charitable bequest in your will is a simple way to make a lasting gift to Core Sound Waterfowl Museum & Heritage Center and your community. You can leave a bequest to Core Sound Waterfowl Museum & Heritage Center by adding to an existing will or drafting a new one. Make a gift of a stated dollar amount, specific property, a percentage of your estate, or the remainder after distributions to other beneficiaries. In doing so you leave a legacy to Core Sound Waterfowl Museum & Heritage Center and your community, yet preserve and enjoy assets you might need during your lifetime. Plus, the assets distributed to Core Sound Waterfowl Museum & Heritage Center are exempt from estate tax. For more information about how your charitable bequest can benefit Core Sound Waterfowl Museum & Heritage Center, please contact Karen Amspacher, Executive Director. We also recommend that you consult with your tax advisor or planning professional.
Life Insurance
A simple way to give a significant gift
Giving through life insurance is one of the simplest ways to make a significant contribution to Core Sound Waterfowl Museum & Heritage Center and establish your legacy of giving. There are two approaches: You can designate Core Sound Waterfowl Museum & Heritage Center as the primary or secondary beneficiary of either 100% or some percentage of the proceeds from the policy. Or you can transfer to Core Sound Waterfowl Museum & Heritage Center ownership of the policy – either paid in full or for which you continue making premium payments. The transfer of the policy is a present gift for which a charitable tax deduction may be taken, and your continued payment of premiums is each considered charitable contributions, deductible to the full extent of the law. For more information about how the gift of a life insurance policy can benefit Core Sound Waterfowl Museum & Heritage Center, please contact Karen Amspacher, Executive Director. We also recommend that you consult with your tax advisor or planning professional.
Gifts of Real Estate
An unmatched opportunity to make an impact
You can turn the value of real estate into community good and receive financial and tax benefits with a gift to Core Sound Waterfowl Museum & Heritage Center of real estate. A rental house, vacation home or unimproved land can be gifted to Core Sound Waterfowl Museum & Heritage Center for sale. You avoid capital gains tax and the proceeds from the sale of the property will be used to support our work in the community. A gift of only the ‘remainder interest’ in your personal residence to Core Sound Waterfowl Museum & Heritage Center while you and your family continue to live in and fully enjoy your home as long as you like can also produce a charitable deduction. This is a retained life estate and works just as well with a farm or vacation home as with your principal residence. For more information about how your gift of real estate can benefit Core Sound Waterfowl Museum & Heritage Center, please contact Karen Amspacher, Executive Director. We also recommend that you consult with your tax advisor or planning professional.
Gifts of Publicly-Traded Stock or Closely-Held Business Interests
Let your portfolio or your business profit the community
Shares of appreciated publicly traded stock are an effective way to support Core Sound Waterfowl Museum & Heritage Center and avoid taxation on the gain. We can receive stock gifts directly through your brokerage account; you receive a charitable income tax deduction, usually equivalent to fair market value as determined under IRS guidelines. We will sell the stock immediately and apply the net proceeds toward our mission.
Core Sound Waterfowl Museum & Heritage Center will also consider gifts of closely-held business interests such as corporations, limited liability companies, and limited partnerships if an acceptable means of converting the stock into liquid assets can be an anticipated within a reasonable time. This may occur through redemption agreements, liquidation or asset transfers. These are complex transactions, so consultation with your tax advisor or planning professional is necessary. Please contact Karen Amspacher, Executive Director, at Core Sound Waterfowl Museum & Heritage Center for more information.
Gifts from Retirement Plans
The perfect gift asset
Retirement plan assets (those in qualified plans and IRAs) are ideal for charitable giving purposes because these assets are often heavily taxed when passed to non-spouse beneficiaries. To make a future gift of retirement plan assets simply requires a designation of Core Sound Waterfowl Museum & Heritage Center as the beneficiary of the plan. Making a present gift of retirement account assets during your lifetime has been permitted under recent law for certain tax years; check with your tax advisor before making a gift of retirement plan assets. Please contact Karen Amspacher, Executive Director, at Core Sound Waterfowl Museum & Heritage Center for information on the opportunity to make a planned gift with retirement assets.
Charitable Remainder Trust
Planning for the future – for you and your community
Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life or a specified term of years, knowing that whatever remains will benefit Core Sound Waterfowl Museum & Heritage Center. You transfer assets into a trust and receive an immediate charitable deduction. The trust distributes regular income payments to you or to designated family members. You may choose to receive a fixed payment or one that changes with the value of the trust assets; payments can begin immediately, or you can defer them to increase your charitable income tax deduction. The amount of the payments and the amount of the charitable tax deduction depends on the age of the recipient and the applicable federal rate for determining the present value of an interest for a term of years. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust will transfer to Core Sound Waterfowl Museum & Heritage Center. For more information about how a Charitable Remainder Trust can benefit Core Sound Waterfowl Museum & Heritage Center, please contact Karen Amspacher, Executive Director. Consultation with your tax advisor or planning professional will be required.
Charitable Lead Trust
Giving to Core Sound Waterfowl Museum & Heritage Center and your loved ones
A Charitable Lead Trust permits you to remove assets from your estate and benefit Core Sound Waterfowl Museum & Heritage Center during the trust’s term. Assets selected by you are transferred into a trust, which pays Core Sound Waterfowl Museum & Heritage Center an annual amount to accomplish its mission. During its term, the trust can be managed by experienced professionals, which may help your trust investments grow over time. When the trust terminates, either upon your death or after a specified number of years, its final assets are transferred to the family members you designate. Any growth in the trust passes to recipients, often with significant transfer-tax savings. Charitable lead trusts may also be created by will as part of your testamentary planning.
Charitable Lead Trusts offer financial benefits by sheltering investment earnings from income tax, too. However, at the time your trust is established, you may owe gift tax on the present value of your gift to the final beneficiary. Charitable Lead Trusts can be arranged to make annual distributions of a fixed percentage of the trust assets or distributions of a fixed dollar amount. For more information about how a Charitable Lead Trust can benefit Core Sound Waterfowl Museum & Heritage Center, please contact Karen Amspacher, Executive Director. Consultation with your tax advisor or planning professional will be required.
