SoundWaters Planned Giving Program
Thank you for considering a gift to SoundWaters. In addition to an immediate gift of cash, there are other ways to give – planned gifts – that allow you to express your personal values by integrating your charitable, family and financial goals. Making a planned gift usually requires the assistance of a knowledgeable advisor, such as an attorney, financial planner or CPA to help structure the gift.
You can choose the type of planned gift that allows you to fulfill your philanthropic goals at a time that is best for you, whether during your lifetime or upon your death, with the possibility of securing tax benefits as well as a steady income stream for you and your family members. Depending on the type of gift you choose, you may be able to plan a gift that is larger than you would have otherwise considered without impacting your family’s current lifestyle or financial plan.
Please contact Bob Mazzone, SoundWaters Vice President, Development at (203) 406-3303 or bmazzone@soundwaters.org to learn more about planned giving to SoundWaters.
Gifts of Stock or Securities
Making a gift of appreciated stock or other securities to SoundWaters is a generous and smart way to donate and may provide you with a greater tax benefit than a cash donation. Your broker can assist you in making a gift of stock via a direct electronic transfer.
The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. If you sell the stock outright, you would pay capital gains tax. If you have owned the stock for at least one year and donate it to SoundWaters, you support SoundWaters, generate no capital gains and you may even save on brokerage fees since you are transferring, not selling your shares. Your charitable income tax deduction will be equal to the market value of the stock on the date your transfer is received into the SoundWaters brokerage account.
If you would like to make a gift of stock to SoundWaters, please contact Bob Mazzone, SoundWaters Vice President of Development at (203) 406-3303 or bmazzone@soundwaters.org.
We will liquidate your donation of securities as soon as possible. Please notify SoundWaters at giftsofsecurities@soundwaters.org or (203) 406-3301 after you have made the transfer so we can ensure smooth processing of your gift and promptly provide information regarding your tax deduction.
Gift by Will or Trust
You may designate SoundWaters as the beneficiary of a bequest or gift by the terms of a will, revocable trust or irrevocable trust.
Potential Options
Donor may gift or bequeath a fixed cash amount, specific assets such as shares of stock or real property, a percentage of the donor’s estate or the donor’s residuary estate.
Potential Benefits
Has the virtue of simplicity and gift deferral for donor’s lifetime. May offer federal and state estate tax deductions.
Retained Life Estate
Deed of personal residence to SoundWaters while retaining right to occupy residence until death.
Potential Option:
Donor may gift a primary residence or vacation home.
Potential Benefits:
Immediate federal income tax deduction and charitable deduction upon death.
Gift of Retirement Plans
SoundWaters may be designated as beneficiary of a donor’s retirement plans, such as IRAs and 401k and 403(b) accounts.
Potential Option:
Donor may name SoundWaters as primary, successor or contingent beneficiary for all or a portion of the donor’s retirement accounts, to be paid at the death of the donor or donor’s spouse.
Potential Benefit:
Use of a heavily taxed asset for the fulfillment of charitable goals.
Gift of Life Insurance
Contribution of a life insurance policy to SoundWaters by naming SoundWaters as the owner and beneficiary of such policy.
Potential Options:
Donor may contribute an existing or a new policy.
Potential Benefit:
Donor receives an income tax deduction for lifetime premium payments. Upon donor’s death, all insurance proceeds pass tax free to SoundWaters.
Charitable Gift Annuity
Donor preserves an income stream for life in exchange for a gift of cash or marketable securities to SoundWaters.
Potential Option:
Donor may designate a family member as income beneficiary, and may structure the annuity to defer the income stream until a later date.
Potential Benefit:
Provides current income tax savings while the charitable gift is deferred. Income stream can be a helpful income supplement during retirement.
Charitable Remainder Trust
Donor establishes a trust reserving an income stream for a term of years or the life of the donor, naming SoundWaters as remainder beneficiary.
Potential Options:
Donor may designate a family member as income beneficiary. SoundWaters may be named as one of multiple remainder beneficiaries.
Potential Benefits:
Provides current income tax savings while the charitable gift is deferred. Income stream can be a helpful income supplement during retirement.
Charitable Lead Trust
Donor establishes a trust naming SoundWaters as income beneficiary for a term of years or the life of the donor. Upon trust termination, assets pass to family members or other named beneficiaries.
Potential Options:
Annuity amount may be structured as a fixed dollar amount or fixed percentage of the trust.
Potential Benefits:
Minimizes gift taxes, income taxes and the size of the donor’s taxable estate. Preserves assets for the donor’s family
Let your company double or triple your impact!
Many companies have matching gift programs. You make your donation to SoundWaters and your employer will donate the same amount or even more.
Make a donation and be sure to keep your receipt. Many corporate matching programs will give you up to one year after your donation to request a match.
Questions? Email matchinggifts@soundwaters.org or call us at (203) 406-3314.
In Kind Donations
Cash contributions allow us to fulfill our equipment needs, but sometimes, receiving the actual equipment, in lieu of cash, will meet our needs just as well. If you have equipment in the following categories that is safe, well maintained and in good to excellent condition we would love to know about it:
Sailboats we use in our programs:
- Opti
- Laser
- Feva
- 420
Please note: Because we teach sailing to children, we will be very selective in the boats we accept. We will accept only boats that we can use immediately in our programs.
Power boats we need: Inflatables and 20-25’ outboard
Misc. Equipment Needs:
- Sails (pending appraisal by Z Sails)
- Power Tools
- Fire extinguishers, horns, etc.
Equipment we DO NOT need: There are also limits to what we can accept. We deeply appreciate you’re thinking of SoundWaters, but we cannot use the following:
- Canoes
- Kayaks
- Stand Up Paddle Boards
- Wind Surfers
- supplies (life jackets, paddles, rope, etc.)
Acknowledgment of In-Kind Donations: We will send you a signed and dated letter thanking you for your donation, listing the items received and stating that no goods or services were provided to you in exchange for your donation. We will not place a value on your donation. IRS regulations state that you (the donor) are responsible for establishing the value of your in-kind donation.
Questions? Contact Josh Mayo, Fleet Manager, jmayo@soundwaters.org
What They’re Saying
“I cannot tell you how much it meant for our students to participate in the program this October in Bridgeport. Your generosity enabled many of them to discover the joy and intellectual challenge of the Connecticut Sound, the creatures they saw and studied and the chance to just take off into the sea, let the wind blow against one’s face and forget all the struggles so many endure living in homes where their financial and personal struggles are great.”
–Bridgeport School Administrator
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