Planned Giving, Estate Giving & Bequests
Planned gifts, such as bequests or charitable trusts, can be an advantageous way to provide for a future gift to Fairchild.
What is "Planned Giving"?
Planned giving involves providing for a future gift to charities through your financial and estate plans. Fairchild welcomes gifts made through different planned giving arrangements. These arrangements can enable you to leave a legacy for Fairchild, among many other benefits that we will discuss with you.
Planned Gifts may be customized to fit your specific needs. Below are a few examples of planned gifts
Bequests are the simplest of Planned Gifts. You may choose to include Fairchild in your will or trust as recipient of a specific value or percentage of your estate. This may potentially lower your estate taxes. Your gift may be restricted towards a particular program that you identify with. If you would like to restrict your gift, please contact us so that we may help align your gift in the best possible way.
Sample Bequest Language: I give, devise and bequeath to Fairchild Tropical Botanic Garden, for the support of Fairchild Tropical Botanic Garden in Coral Gables, Florida, the sum of $_____________; OR, ___________% of the residue of my estate; OR, my interest in (describe property and exact location of specific property).
Charitable Lead Trusts
Charitable Lead Trusts are established when you allocate assets to a trust. One or more charities, as designated by the donor, receive payment dispersals from this trust. When the trust’s lifetime is reached, the assets then pass to the donor or designated individuals.
Charitable Remainder Trusts
Charitable Remainder Trusts are established when you allocate assets to a trust. Payments from the trust are distributed to the Donor (or other individuals) for life or for a term of years. When the end of the trust’s lifetime is reached, the remainder of the trust is passed on to Fairchild.
Assets to Give: Securities, Real Estate and More
Gifts of Cash
Fairchild endowment help secure the long-term success of the garden while securing, in most cases, an income tax charitable deduction for the full value of the gift. Cash gifts are one of the simplest gifts to make.
Publicly traded securities can be used to make an outright charitable gift. If you give appreciated securities that you have held longer than one year, you are entitled to a charitable deduction from your income tax for the full fair market value of the securities. You also may be able to defer or completely avoid capital gains tax on the securities, depending on the type of gift. Publicly traded securities can also be given to Fairchild to establish a life income gift or through one's estate. Publicly traded securities may be transferred electronically from a brokerage account to Fairchild. To ensure that your gift is properly credited, if your gift is to establish or add to a life income gift, please contact us before you make the gift.
Gifts of Real Estate
You may choose to give Fairchild a gift of Real property. If you deed your property to Fairchild, you may choose to remain in your home for life. This is called a retained life estate and will create an income and federal tax deduction for you.
If you own a fully paid life insurance policy that you may no longer need you may choose to name Fairchild as a beneficiary to all (or a percentage) of policy. You may receive a charitable estate tax deduction for the portion you designate to Fairchild.
Retirement Plan Assets
Choose to name Fairchild as a beneficiary of your retirement plan assets and receive the appropriate charitable estate tax deduction.
There are fewer tax consequences in transferring savings bonds to Fairchild than to individuals.
Fairchild welcomes gifts of many kinds of personal property that may be used to further our mission. Our donor relations staff will be happy to help you determine whether we can accept a specific gift.
The Fairchild Legacy Society
As a special way of thanking you, the Fairchild Legacy Society has been established to honor Fairchild’s loyal supporters who have made a Planned Gift to Fairchild.
The Legacy Society meets annually for a thank you lunch in the Garden with Fairchild’s Director. Also, new Legacy Society members receive a Lignum Vitae (Guaiacum sanctum), Fairchild’s Legacy Society symbol.
If you have made a bequest to Fairchild, please let us know so that you can be recognized as a member of the Legacy Society. Your gift will serve as an inspiration for others. If you choose to remain anonymous, we will certainly respect your wishes.
For more information on donor services at Fairchild, please contact Donor Services at 305-667-1651, extension 3352 or email firstname.lastname@example.org.