Gifts with Life Income
By making this kind of donation, you will not only contribute to the mission of Prairie Land Conservancy but also receive a lifetime income for yourself or a cherished individual. Life income gifts are also known as "Charitable Reminder Trusts" or "Charitable Gift Annuities." Exploring these types of gifts can provide significant financial benefits for landowners and potentially increase annual income. As a landowner, you have the option to use cash, land, or other assets to create a gift with a life income. These types of gifts can significantly reduce your capital gains taxes, federal estate tax, and inheritance tax. Additionally, you may be eligible for a charitable deduction for your income taxes. 
|
Gifts of Land
Prairie Land Conservancy is continuously accepting generous donations of land in order to help preserve the stunning landscape of west-central Illinois. Any contribution would is immensely valuable in ensuring that these precious landscapes are protected for future generations to enjoy. Landowners have the option to receive a tax deduction for the unrestricted value of their property. Additionally, opting for this route can maximize their charitable income tax deduction. In cases where a property boasts remarkable natural resources, a customized land management plan can be created to safeguard these valuable resources and cater to any future plans the landowner may have. Are you interested in donating land but still want to live on it? Consider gifting the land with a reserved life estate. This allows beneficiaries to use the property during their lifetime, after which control of the property will be transferred to Prairie Land Conservancy. To find out if your property has conservation value contact our offices at info@prairiehillsrcd.org or 309.833.4747. 
Bequests
If you're a landowner in west-central Illinois, leaving a gift in your will can be an easy way to make sure that Prairie Land Conservancy and its natural spaces will keep thriving and growing, even after you're gone. It's a great way to leave a lasting legacy that makes a positive impact on the environment and future generations. By utilizing a bequest, all assets remain available during your lifetime. In some cases, a bequest can reduce estate taxes. Some landowners see their legacy as a way to sustain their yearly membership with Prairie Land Conservancy. For example, a bequest of $5,000 to Prairie Land Conservancy endowment will produce about $250 in interest every year, comparable to a $250 annual membership that will last long beyond a lifetime. There are many options in which you can name Prairie Land Conservancy as a beneficiary in a will. Those include: giving specific assets, a portion of an estate, or a residual estate after payments of other bequests. An individual can state how they would like a gift to be used; a specific purpose that you name or "wherever the need is greatest." Prairie Land Conservancy can then choose a use that best matches its mission. If you wish to name Prairie Land Conservancy in your will or estate plan, please name us as: Prairie Land Conservancy, a division of Prairie Hills Resource Conservation & Development, a nonprofit corporation, organized and existing under the laws of the State Of Illinois, with principal business address of 321 W. University Dr, Macomb, IL 61455. Tax ID: 37-1206873 Date of Incorporation: January 23,1976 |
Here Are Some Additional Gift Options Worth Considering
Life Insurance
If you are looking for an uncomplicated and cost-effective method to donate a significant gift to Prairie Land Conservancy, life insurance can be a great way to give more than what you might be able to afford otherwise. As a landowner, you have the option to grant ownership and beneficiary status of a paid-up new policy or an existing policy to Prairie Land Conservancy. Additionally, you may choose to include Prairie Land Conservancy as one of the beneficiaries of an already-established policy. By gifting life insurance policies, estate taxation on the death benefit can be avoided after the landowner passes away. Additionally, such gifts may qualify for a present income tax deduction in certain cases.
Retirement Accounts
When a landowner's retirement plan proceeds or IRA is passed to heirs other than a spouse, as much as 80% of those assets may be lost to income tax, excise tax, and estate tax. Arranging to donate pension plan assets or IRAs to support Prairie Land Conservancy can help lower federal and state death tax while also assisting beneficiaries in avoiding federal and state income tax. For large estates, it is possible to avoid the additional 15% excise or "success" tax on pension plans and IRAs greater than $750,000. This is a great way to give back and make a meaningful impact.
Life Insurance
If you are looking for an uncomplicated and cost-effective method to donate a significant gift to Prairie Land Conservancy, life insurance can be a great way to give more than what you might be able to afford otherwise. As a landowner, you have the option to grant ownership and beneficiary status of a paid-up new policy or an existing policy to Prairie Land Conservancy. Additionally, you may choose to include Prairie Land Conservancy as one of the beneficiaries of an already-established policy. By gifting life insurance policies, estate taxation on the death benefit can be avoided after the landowner passes away. Additionally, such gifts may qualify for a present income tax deduction in certain cases.
Retirement Accounts
When a landowner's retirement plan proceeds or IRA is passed to heirs other than a spouse, as much as 80% of those assets may be lost to income tax, excise tax, and estate tax. Arranging to donate pension plan assets or IRAs to support Prairie Land Conservancy can help lower federal and state death tax while also assisting beneficiaries in avoiding federal and state income tax. For large estates, it is possible to avoid the additional 15% excise or "success" tax on pension plans and IRAs greater than $750,000. This is a great way to give back and make a meaningful impact.
Prairie Land Conservancy makes every effort to give you accurate information. You should also consult your trusted professionals for legal, financial, insurance, or estate planning advice. The staff of PLC is not engaged in rendering legal, accounting, or other professional services.
Please do not hesitate to contact our office with any questions at info@prairiehillsrcd.org or 309.833.4747
Visit us
321 West University Drive
Macomb, IL 61455
Please do not hesitate to contact our office with any questions at info@prairiehillsrcd.org or 309.833.4747
Visit us
321 West University Drive
Macomb, IL 61455