What is Your Legacy?
With a planned gift, you can make a lasting difference for future generations in our community.
There are many ways to leave a legacy for WCAP, and many ways that can be tax beneficial to you and your heirs. On this page you will find a few options that may work for you and your estate planning. WCAP encourages you to consult your lawyer, family members, and other financial advisors when considering any planned charitable gifts.
You can name WCAP as a beneficiary and avoid significant taxation of the proceeds. They are easy to arrange and usually just require a signature on a beneficiary designation form that you can get from the plan or account administrator.
The following assets can be designated all, or in part, to WCAP:
- Retirement plan
- Insurance policy
- Bank account
- Brokerage account
Some people can make a tax-advantaged gift to benefit WCAP right now! An IRA rollover is a fantastic and potentially beneficial way to support our community. Individuals 70½ or older may be able to make tax-free transfers from IRAs of up to $100,000 per year to charities. We are not accountants and cannot advise you on your particular situation, so please check with your accountant or broker if you are interested in this often advantageous opportunity.
Bequests allow you to make a meaningful legacy gift without incurring any costs during your lifetime. They are also revocable, so if your circumstances change, you can update it.
If you have a will or living trust, it is very easy and quick to amend it to include a bequest to WCAP with a simple codicil.
Gift of Stock
Did you know giving stock can be more beneficial than giving cash? You can deduct the full, current value and never pay taxes on the gain that made it so valuable. (Please speak with your financial advisor about tax implications for your particular situation.)
Reach out to your financial institution and ask if they offer an omnibus charitable gift account or if they will transfer the stock directly to WCAP.
Gifts That Enhance Cash Flow
Want to earn guaranteed income while helping our community?
Charitable Gift Annuities
Income return for your investment in the form of a contribution to WCAP.
A gift annuity allows you to make a contribution to WCAP and then receive a fixed annual income from the donation during your lifetime and/or your spouse’s lifetime. A gift annuity is similar to an annuity that you purchase from an insurance company in that it provides a predictable stream of income in return for your investment. The older you are when the annuity is established, the higher the rate offered. Upon the death of the annuitant, the remaining principal becomes available to WCAP.
Charitable Remainder Trusts
You or a loved one can benefit from your income during your life and then WCAP will receive the principal of the trust upon the last beneficiary’s passing.
A Charitable Remainder Trust (CRT) is the most flexible gift plan and involves two beneficiaries. Income beneficiaries (you or a loved one) receive a set percentage of income for your lifetime from the trust. The second beneficiary is WCAP, which receives the principal of the trust after the income beneficiaries pass away. The CRT allows taxpayers to reduce estate taxes, eliminate capital gains taxes, and claim an income tax deduction. The trust can be established with real estate, cash, appreciated securities, or other marketable assets.
Charitable Lead Trust
WCAP can benefit from income during your life and then upon your passing your beneficiaries receive the principal.
A Charitable Lead Trust (CLT) is the reverse of a CRT. Your Charitable Lead Trust will provide an immediate income for WCAP for a period of years that you designate. You establish a trust in which you contribute assets. You then designate an amount or fixed percentage to be paid to WCAP. At the end of the designated term the remaining assets are transferred to you, your heirs, or to any party you prefer, without being subject to further estate or gift tax. You receive a gift tax deduction upon creation. This is an effective way to transfer wealth to heirs with little or no gift/estate tax liability while providing much needed support for WCAP immediately.
Real Estate Donation
Are you afraid your house will be a burden to your executor or heirs? You can give it to WCAP!
You can protect your real estate asset and donate it to WCAP in ways such as:
- Charitable Bargain Sale: if you sell your property to WCAP for less than its market value, the difference is considered a charitable gift and you can use the cash for whatever purpose you choose.
- Retained Life Estate: you can donate a piece of real estate to WCAP and continue to use it as a primary residence for as long as you live. You enjoy an immediate tax deduction based on the future value of the gift.
If you would like to discuss planned giving options, please contact Marina, Development Director, at 207-338-6809 ext.216 or firstname.lastname@example.org
Our Item Wish List
We are grateful to have much needed items available to clients we serve. Our Resource Advocates have a Soap Closet where they can offer essential household and hygiene products like laundry soap, toothbrushes, and toilet paper. Our Early Childhood classrooms also usually need winter items like mittens and hats and education/craft materials.
Please call our office to confirm what items are most needed at the moment at 338-6809. You can also visit our Amazon Wish Lists and purchase items that will be sent right to our office!
Soap Closet Amazon Wish List
Classroom Amazon Wish List
Below are the most common items we provide to clients:
- Laundry soap
- Dish soap
- Disinfectant spray/wipes
- Body wipes
- Hand soap/sanitizer
- Body wash and deodorant
- Razors and shaving cream
- Toilet paper
- Paper towels
- Shampoo and conditioner
- Baby wipes and diaper cream
- Baby shampoo/wash/lotion
- Suncreen and bug spray
- Band-aids and triple antibiotic cream
- Can openers
- Hot Hands
- Reusable bags
- Mittens, hats, and other winter clothing
Your Business Can Make a Difference
There are many ways your business/organization can help WCAP serve our community. Here are just some ideas:
- Sponsor one of our events, such as the Cinderella Project or Heroes 4 Hunger.
- Adopt a child for the holiday season.
- Run a promotion. For example, “For every ____ purchased, we’ll make a $____ donation to WCAP!”
- Share our social media posts. Follow us here.
- Hold a drive to collect essential items for our soap closet.
- Donate gas or food cards to help people we serve.
- Provide consistent volunteers.
If you would like to get involved with any of these ideas or hold a fundraiser on behalf of WCAP, please contact Marina, Development Director, at 207-338-6809 ext.216 or email@example.com
Give in Memory or Honor of Someone
Simply visit our online donation page to get started. In the section that says ‘This gift is in tribute or memory of someone’, select ‘Yes’ next to the appropriate option. Honorary gifts are in tribute of a living person; memorial gifts are in tribute of a deceased person. Once you select Yes, you will be able to enter the name and address of the person you would like to notify about your gift. We will mail a card to them and the donation amount will not be listed.
Gifts can also be made over the phone by calling Marina Kinney, Development Director, at 207-338-6809 ext.216 or a check can be mailed to WCAP at PO Box 130 : Belfast, ME 04915.
Are you inviting family and friends to make a gift in lieu of flowers in an obituary?
Please let us know by calling Marina at 207-338-6809 ext.216 or emailing firstname.lastname@example.org. In the obituary, ask family and friends to tell us the name of the person the gift is in memory of when they make their donation. We will collect cards and send a package to the family member of your choice.
WCAP offers both long-term, regular volunteer opportunities and seasonal one-time volunteer opportunities for individuals, groups, and families. For more information or to sign up to be a volunteer, use the contact information below and ask the receptionist to speak to the department you’re interested in volunteering for.