Planned Giving

Other Gift Types

There are many other possibilities than what is listed here. The PNC staff would welcome the opportunity to discuss the organization’s needs and dreams.

Other Planned Giving opportunities include:

Life Insurance
Lead Trusts
Gifts of Remainder Interests in Homes and Farms
For example, a gift made subject to a life estate for the donor and his or her spouse or heirs. (The property continues to be used by the donor and the beneficiaries.)

PNC’s Planned Giving Needs and Dreams

A Planned gift to PNC can be targeted to a particular preservation interest of a donor. Examples of how a donor might target a gift include:

Endowment for operating support.
Support for the work of the endangered properties program.
Endowment for the maintenance of one of PNC’s stewardship properties, such as the Briggs Building, Bellamy Mansion, El Nido, Coolmore, or the Banker’s House.
Restoration or conservation projects at a stewardship property.
Endowment for specific educational programs, such as lectures, publications, heritage education projects, etc.
Gifts may be made to a community foundation for the benefit of PNC.

When planning funeral arrangements, ask that contributions bemade to Preservation North Carolina in lieu of flowers. Memorial gifts are placed in endowment, making them an easy way to help ensure PNC’s future.

How can I help ensure the future of Preservation in North Carolina?
Please contact us for more information on how to include PNC in your estate planning.

Remainder Trusts

A donor who creates a Charitable Remainder Trust transfers assets to a trust, retains the income for life or a term of years, and makes a gift of the remainder interest to Preservation North Carolina at his or her death.
Two variations are most commonly used:

Charitable Remainder Annuity Trust
The donor retains the right to a fixed annual income based onthe initial fair market value of the trust assets. This type of trust can be used as a guaranteed annuity.

and

Charitable Remainder Unitrust
The donor retains the right to a variable income based on the fair market value of the trust assets as revalued annually. The process of revaluation provides a ’hedge“ against inflation.

With both types of trusts, the donor is entitled to an income tax deduction equal to the value of the remainder interest in the year the trust is established.

If the Charitable Remainder Trust is established by will, the donor’s estate will be entitled to an estate tax deduction.

Creation of a Charitable Remainder Trust is an excellent opportunity for the donor to donate and then diversify appreciated property without incurring tax on capital gains.

Frequently, the diversification actually results in increased income for the donor or his named beneficiaries – in addition to a charitable deduction. Insurance, funded by the increased income, is often used to pass wealth to heirs.

Charitable Remainder Trust Examples:

A Charitable Remainder Trust will someday pay off the mortgage on PNC’s headquarters. When that happens, the building will help generate revenue for PNC’s work.

A Raleigh donor has established a Charitable Remainder Unitrust of $250,000 in memory of her mother. During her lifetime, the donor will receive 6% of the value of the fund each year, more income than the donated stock was producing in dividends. As the trust grows, so will her income.

In addition to the increased income, the donor also received a charitable deduction in the year of her gift. At her death, the corpus of the trust will be placed in Preservation North Carolina’s endowment, and the income from the fund will sustain the memory of the donor’s mother. The trust will not be part of the donor’s estate.

A bequest to Preservation North Carolina in a donor’s will is a simple form of planned gift.
Bequests may be for cash, securities, real estate or peroperty of any description. It may be a percentage of the estate’s value or of the residuary. The donor retains full control and use of the property during his or her lifetime.
At such time as the will containing the bequest to PNC is probated, the bequest qualifies as a charitable deducsion in computing estate and inheritance taxes.

An example of a bequest is the gift of Coolmore Plantation (near Tarboro), which was donated to PNC thorugh the will of Joseph C. Powell. members of his family have made planned gifts for its endowment thorugh the North Carolina Community Foundation.

Appreciated Property

Because of its work with endangered properties, Preservation NC is particularly well suited to receive gifts of both historic and non-historic real estate.
Gifts of appreciated property include real estate, antiques, stocks, etc. The donor of a gift of real estate may wish to designate the use of the proceeds from its sale. If the property is historic, Preservation NC will make every effort to ensure that the property is protected by legally binding preservation easements or covenants.
Gifts to Preservation NC having a current market value greater than the donor’s cost basis or purchase price can reduce the “cost” of giving.
Donors who make gifts of appreciated property receive an income tax charitable deduction equal to the fair market value
of the gift. The donor avoids capital gains taxes on the appreciated portion of the property.