By designating Nature and Wildlife Discovery Center (NWDC) in your will, you can create a legacy of environmental stewardship and a lasting contribution in support of children and education for generations to come. The Center offers a variety of planned giving options to ensure that our educational programs are accessible to children throughout southern Colorado. Options include: Outright gifts of stock or cash during your lifetime; reducing your estate tax-burden; including NWDC in your will; making NWDC a beneficiary or partial beneficiary in an insurance policy; and/or creating a charitable remainder trust.
If you wish to make a provision in your will, the following general language is suggested:
“I give and devise to the Nature and Wildlife Discovery Center, a not-for-profit corporation, located
at 5200 Nature Center Rd, Pueblo, CO. the sum of $______ or ____ percent of the residue of my estate
(or specifically described property) for general purposes.”
It would be our privilege to know your intent and honor you; please consider sending us a copy of our Bequest Intent Statement, available here:
[Bequest Intent Statement.pdf].
Planned Giving Options:
A bequest can be a specified dollar amount or a percentage of your estate. Your taxable estate will be reduced by the value of the gift, and thus your estate taxes may be lower.
Charitable Remainder Trust
Cash or property is transferred to a trust, which pays the beneficiary either a variable income equal to a fixed percentage of the trust’s fair market value as determined each year or a fixed annual amount. Upon the death of the beneficiary, NWDC receives the remaining assets. You receive a current income tax deduction for the remainder value of the charitable gift.
IRA Funds and Qualified Retirement Plans (QRPs)
Retirement plan assets often provide a convenient pocket from which to make charitable gifts. Pension plans, annuities and QRPs generally are funded with pre-tax dollars. Because their growth has not been taxed during accumulation, the combined estate and income tax at the time of the owner’s death can be substantial. These funds are particularly attractive to give as charitable gifts because of the potential tax savings. You may benefit by a charitable rollover of your qualified retirement plan’s assets to a charitable trust at death. A charitable trust can preserve much of the value of your IRAs or other QRPs for your heirs while also making a significant gift to the NWDC. You can also consider naming NWDC the last beneficiary on plans that have refund features and/or residual amounts left after participants are deceased.
A gift of life insurance could be a substantial gift to NWDC. By assigning ownership to NWDC, you can receive a tax deduction for the value of the policy and the premium paid each year.
Retained Life Estate
You can contribute a private residence or farm while retaining the right to live in and use the property. You can receive a generous income tax deduction for such a gift, as well as other advantages.
The full fair market value of the appreciated securities – stocks and bonds are fully deductible as a charitable contribution for federal income tax purposes but the maximum deduction in one year is limited to 30 percent of your adjusted gross income. Unused deduction amounts exceeding this limit can be carried forward for up to five more years. In addition, you do not pay federal capital gains taxes on the appreciated portion of the gift.
A gift of real estate (homes, land) can provide the same tax advantage as a gift of appreciated securities and help NWDC reach its goals. Each proposed gift of real estate is examined carefully because NWDC ability to accept gifts of real estate depends upon a number of factors.
For more information about planned giving, please contact:
Jonathan Pilarski, Executive Director
5200 Nature Center Rd., Pueblo, Co 81003
Direct Line: 719-485-4444
Tax ID Number: 84-1526595
Nature and Wildlife Discovery Center is not engaged in rendering legal or tax advisory services. For advice or assistance in specific classes, the services of an attorney or other professional advisor should be obtained. Advice from legal counsel should be sought when considering these types of gifts.