Gifts of Securities

Gifts of Stock

A gift of stock is a great way to help avoid capital gains taxes, receive an income tax deduction, and support local land conservation in Tug Hill.

Your support will make a big difference and help conserve the region’s clean water, farms and woodlands we hold dear, local trails and recreational experiences, and programs for local families.

In short, you’ll be making an investment in Tug Hill’s future.

How to donate a gift of stock

Transferring stock to Tug Hill Tomorrow Land Trust is easy to do.  It’s also a great way to maximize your Federal and State income tax deductions to the fullest extent permitted by law.

  • Your income tax donation is based upon the current market value of the stock at the time you donate it.
  • Please remember that it may take several days for your broker to complete a transfer of stock at the year-end, so plan adequate time if that year-end dedication is important to you.

Transfer instructions for your broker:

If the securities are held in a "Street Name" at a brokerage firm or bank other than RBC Wealth Management, have your broker transfer the securities “in kind” to:

 

RBC Wealth Management
DTC # 0235
FBO ACCT # 301-45113
FBO Tug Hill Tomorrow Land Trust

If the securities are held in a RBC Wealth Management account, have your broker journal the gift to THTLT’s account at RBC Wealth Management:

FBO ACCT # 301-45113
FBO Tug Hill Tomorrow Land Trust

 

For other circumstances, contact THTLT’s broker:

Donald Musnicki, Financial Consultant
RBC Wealth Management
19485 US Route 11
Watertown, NY 13601

(315) 788-4200 Phone
(800) 342-1412 Toll Free
(315) 788-6964 Fax

 

The following form will allow you to quickly contact us about a gift of stock. The information is confidential and will allow us to follow up with you.

Download Gifts of Stock Form

IRA Qualified Charitable Donations

In eligible tax years, individuals age 70½ or over can exclude up to $100,000 from gross income for donations paid directly to a qualified charity from their IRA. This is known as a Qualified Charitable Donation, and it satisfies any IRA required minimum distributions for the year.

Congress has extended the IRA charitable rollover for 2015 and beyond. This new law does not have an expiration date and is retroactive to January 1, 2015.

If you are age 70½ or over and wish to direct a charitable donation to Tug Hill Tomorrow Land Trust through your IRA, please use the following procedure:

  1. Notify your broker that you are making a charitable gift to Tug Hill Tomorrow Land Trust.
  2. Instruct your broker to transfer the charitable donation into Tug Hill Tomorrow Land Trust’s account at RBC Wealth Management:

DTC # 0235
FBO ACCT # 301-45113
FBO Tug Hill Tomorrow Land Trust

After you have completed the transfer, please contact Linda Garrett at Tug Hill Tomorrow and let us know the arrangements that you have made. This is important because your broker may not include your name in the transfer and we may not know who the gift is from. Notifying us enables us to track the transfer and acknowledge your gift promptly.

Thank you...

Questions?

Please free to call Linda Garrett, Executive Director, at (315) 779-8240 or email her at lgarrett@tughilltomorrow.org and she will be happy to help you.

NOTE: You will need to provide your name, number of shares, and the name of the stock or the stock code. We need your name so that we can properly thank you. Please consult your financial advisor as well.

Gifts of Insurance

A gift of life insurance can be a low-cost yet generous way to make a meaningful contribution to the Tug Hill Tomorrow Land Trust. You can name Tug Hill Tomorrow Land Trust as primary beneficiary of your life insurance policy or as contingent beneficiary should your other beneficiaries not survive you. You can also donate your paid-up life insurance policy.

Benefits to you

  • Reduction in your estate taxes, because the proceeds of the policy are no longer part of your estate.
  • A charitable deduction when you name Tug Hill Land Tomorrow Land Trust as a beneficiary or assign ownership to the land trust.

Designating Tug Hill Tomorrow Land Trust as a Beneficiary

When you designate Tug Hill Tomorrow Land Trust, in part or in full, you still retain ownership of the policy and have the flexibility to make changes to the beneficiary designation later.

Any policy proceeds distributed to the Tug Hill Tomorrow Land Trust will be exempt from estate tax calculations. As the beneficiary, we would receive the gift after your lifetime.

Donate Your Life Insurance Policy

If you no longer need your life insurance policy, and it is all paid up, you can donate it to Tug Hill Tomorrow Land Trust. In return for donating a portion or the entirety of your life insurance policy, you can claim an income-tax deduction for either the tax basis or the fair market value of the policy, whichever is less, for the year of the donation. If you stare still paying premiums, in subsequent years, you may designate deductible cash gifts to the Land Trust, which you can use to make the premium payments.

For more information, please contact your financial advisor or call Linda Garrett, Executive Director, at (315) 779-8240 or email her at lgarrett@tughilltomorrow.org and she will be happy to help you.