By making a gift of life insurance you can increase the size of
your gift. You can name the Wisconsin Environmental Education
Foundation as the primary or secondary (contingent) beneficiary of a
life insurance policy. While this offers no immediate income tax
deduction under current tax law, the death benefit passes on to the
WEEF free of any estate tax liability for your heirs. You can also
name the Wisconsin Environmental Education Foundation as the owner
of a life insurance policy; either a policy you now own or a new
policy purchased specifically for this purpose.
Example
You have a life insurance policy that's no longer needed for its
original purpose such as providing for young children, a spouse, or
paying off a debt. This policy has a death benefit of $50,000 and a
cash value of $20,000. You transfer the ownership of the policy to
the Wisconsin Environmental Education Foundation, name the WEEF as
the beneficiary of the policy, and you remain as the insured. At the
31% Federal income tax rate, you receive a charitable deduction of
$6200 for the year you make the transfer of ownership. If you
continue to pay premiums on the policy you are entitled to
additional income tax deductions for the amount of premiums you pay
in the future years. At your death, the death benefit is paid to the
Wisconsin Environmental Education Foundation and allocated according
to the instructions given by you.
Other Planned Giving Options
Bequests
Life Income Gifts
Matching Gifts
Real Estate
Stock/Bonds/Securities
