For many donors, making a gift through their estate is the most realistic way to provide a substantial contribution to Queens Botanical Garden. A gift through an estate may reduce or eliminate estate taxes. Bequests may indicate a specific dollar amount, a specific piece of property, or a stated percentage of the estate.
Other options include a residuary bequest, whereby a charity receives part of all of the estate under certain specified circumstances. The Garden can be named as a beneficiary of a donor's retirement plan, such as an IRA, 401(k) or other retirement fund assets. A donor may also name the Garden as a beneficiary of a life insurance policy.
Charitable Remainder Trust
A Charitable Remainder Trust provides a lifetime income and a charitable income tax deduction. As a donor, you select the payout rate, usually between 5 to 7 percent. The higher the payout rate, the lower the charitable income tax donation. You receive income every year for life or for a predetermined time period.
Charitable Lead Trust
You can also make a gift to the Garden through a "temporary" trust that gives the annual income from the trust to the Garden for a specific number of years. Then the trust terminates and the assets, generally appreciated, are returned to your children or grandchildren. The Charitable Lead Trust is one of the few ways to reduce or eliminate gift, estate, and generation-skipping taxes that might otherwise be due when you leave assets to your children or grandchildren.
Gifts of Real Estate
You may make a gift of commercial or residential real estate to Queens Botanical Garden and receive substantial financial benefits. If the property is given outright, you will receive a charitable income tax deduction based on the appraised value of the property.
For more information or to set an appointment, please contact Darcy Hector, Director of Marketing & Development, at 718.886.3800, ext. 330, or firstname.lastname@example.org.
Photo: Jeff Goldberg/Esto
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