LEAVING A LEGACY
Planned gifts are gifts for…ever. Leave a lasting legacy by including Eagle’s Nest in your estate plans.
Sustainers of ENF
Our Sustainers of ENF are those who have elected to include Eagle’s Nest Foundation in their estate plans through bequests, gifts of life insurance and retirement plans, and other contributions made through their estate. These honored friends have found inspiration at Eagle’s Nest Camp, Hante, and The Outdoor Academy, either personally or through their children or grandchildren. Our Sustainers wish to leave a legacy that provides future generations of young people the opportunity for experientially based education, passion for the natural world, and growth in discovery of their best selves.
Many planned giving options allow donors and their loved ones to receive income during their lifetime from assets that will eventually benefit Eagle’s Nest. All of these life-income gifts deserve special consideration when making financial and estate plans.
Our Sustainers have designated gifts to a variety of funding opportunities that touch every corner of our programming. We can accept planned gifts of any size to any of our current funds (including Unrestricted) or endowed funds. Named scholarship funds can be established at a minimum of $5,000, and endowed scholarship funds require a minimum investment of $25,000.
The benefits of planned giving are numerous to both you and to future generations of campers, students, and adventurers at Eagle’s Nest and The Outdoor Academy. If you would like to learn more about becoming a Sustainer, Eagle’s Nest Foundation’s development office is ready to assist with:
- General information about planned gift vehicles that Eagle’s Nest may accept
- Information about fund and endowment options to suit your philanthropic goals
- Additional resources to help you make decisions
Please contact us directly to discuss your philanthropic ideas and goals for Eagle’s Nest or to receive a copy of a sample fund agreement.
Wills, Living Trusts, or Retirement Plans
Through a will, living trust, or retirement plan, individuals can make gifts to Eagle’s Nest that are larger than anything they could imagine in their lifetime. The process is very simple for most individuals. You need only to include appropriate language in your will. Gifts through wills, living trusts, or retirement plans offer a number of advantages:
- They are revocable by the donor if circumstances change.
- They realize the donor’s vision for the future in a tangible way without an uncomfortable financial burden during his or her lifetime.
- Individuals may choose to designate their support to any part of the Foundation.
- For individuals who wish to support the Foundation at levels that will produce an endowment in perpetuity, separate endowment agreements can be created to spell out the donor’s wishes.
- They may reduce estate tax for the surviving family members.
Wording for a Simple Bequest
You can add the text below to the body of your will, or include it in an additional witnessed page, or codicil, at a later date. Please consult your attorney for further advice.
“I hereby give and bequeath [amount in dollars or percentage amount] to Eagle’s Nest Foundation, a North Carolina nonprofit, 501(c)(3) tax-exempt organization, having federal tax identification number 56-6009912, with its headquarters currently located at 43 Hart Road, Pisgah Forest, NC 28768, for its general purposes.”
AFTER YOU’VE TAKEN CARE OF YOUR LOVED ONES, CONSIDER INCLUDING ENF IN YOUR ESTATE PLANS
OTHER WAYS TO LEAVE A LEGACY
A gift annuity is a simple contract under which the donor transfers assets to the Foundation, which in return provides life income to the donor and up to one other family member or loved one. There are two types of gift annuities: charitable gift annuities and deferred gift annuities.
A charitable gift annuity may be established with a small investment ($5,000 minimum). It can be funded with either appreciated securities or cash. The donor receives an immediate income tax deduction and may also bypass or defer capital gains tax. In addition, a portion of the income paid out of the annuity may be tax-free.
A deferred gift annuity has the same benefits and requirements as a charitable gift annuity. The only difference is that a donor selects a future date (one year or more) to begin income payments. In addition to an immediate tax deduction, benefits include increased income and a tax deduction due to deferral of income.
Due to varying restrictions, Eagle’s Nest is not able to offer gift annuities in all states. Please contact Eagle’s Nest or your financial advisor for information specific to your situation.
A charitable remainder trust (CRT) is a vehicle that allows you to transfer assets to a trust, receive income from that trust until a specified time, at which point the “remainder” (what’s left over) goes to Eagle’s Nest Foundation. CRTs can be created while you are alive or through your will.
What are the benefits of a CRT?
- It removes the assets from your estate, reducing or eliminating your estate taxes.
- Because CRTs are irrevocable, you receive an income tax deduction for the “remainder” value of the trust as calculated by an IRS formula.
- You receive income during your lifetime. Or, with a testamentary trust (created upon your death) you can retain control of your assets until your death when your beneficiaries will receive income for a set period of time.
- You avoid capital gains taxes. Because you are giving to a charity, you will not pay capital gains on the sale of your appreciated asset(s), no matter how low your cost basis.
- You are providing a gift to the Foundation that you may not be able to provide through other means.
A charitable remainder unitrust (CRUTs) offers beneficiary payments based on a percentage that changes annually with the value of the trust; payments from annuity trusts (CRATs) are fixed at the time the trust is created and cannot change. Another significant difference is the acceptance of annual contributions: unitrusts allow them; annuity trusts do not.
In a charitable lead trust, Eagle’s Nest “leads” by receiving payments first with the remainder passing to your named beneficiaries after a set period of time. Many donors like this arrangement, as it keeps assets in the family and gives immediate help for Eagle’s Nest’s funding needs. Like any other trust, a charitable lead trust can be created while you’re alive or through your will.
A new or existing life insurance policy is a low-cost way to make a significant gift to the Foundation. You may also receive a tax deduction for your premium payments. Please note that Eagle’s Nest must be owner and beneficiary of the policy for a gift to be eligible for tax benefits. Often individuals cannot give large sums of money, but this is something anyone can do for the Foundation — designate Eagle’s Nest as the beneficiary of their life insurance policy.
A personal residence, a farm or commercial property that is debt free can help further the work of Eagle’s Nest. In most cases the property would be sold at fair market value; however, the property may be retained as an investment. For example, land owned in a remote location may be held and used for Eagle’s Nest Programs and sold later.