Planned Giving

Gifts during lifetime

Cash - Give online or send a check.

When giving non-cash assets held for more than one year to public charities (including donor advised funds), donors can deduct the full market value of those assets — up to 30% of their adjusted gross income (AGI). When giving cash, donors can deduct up to 60% of their AGI.

Appreciated Securities - contact treasurer@eagleisland.org for instructions

Giving with appreciated stock held for more than one year remains a smart way to make a charitable contribution and minimize capital gains. Given recent market volatility, consult with your advisor to see if selling stock at a loss before giving can help your tax picture.

IRA - Qualified Charitable Distributions (QCDs)

Name the Foundation as a beneficiary of your IRA, 401(k), or 403(b). Doing so can help to avoid income and estate taxes upon your death. Benefit your favorite causes and continue to withdraw from your plan during your lifetime.

If you are at least 70.5 years old, you can give a Qualified Charitable Distribution (QCD) of up to $100,000 directly to a charity annually. If you have reached the age of 72, you can offset the taxes associated with a Required Minimum Deduction (RMD) with a direct gift to charity of up to $100,000 (Note: the RMD was waived entirely in 2020 by the CARES Act).

  • Life Insurance Policies - Pay an annual premium for a new or existing life insurance policy and designate Eagle Island, Inc. as the primary or contingent beneficiary. You can also gift a life insurance policy you own and no longer need or make the Foundation the owner of a new policy for which you pay the annual premiums. 

Every taxpayer’s situation is unique and should be
carefully reviewed with your professional advisor.

Gifts Upon Death

Designating Eagle Island, Inc. as the beneficiary of your retirement account or plan

Bequests under your Will

Incorporating a gift to Eagle Island, Inc. in your Will is easily arranged either as a provision in a newly executed Will or as a codicil to an existing Will. We respectfully suggest that you consult with your tax or legal advisor who will ensure that your intentions are legally stated.  Below is sample language for two common types of outright bequests in a will:

Specific Bequest (a gift of a specific sum or of specific property):

“I give to Eagle Island, Inc. (Tax ID# 27-4548675) of Saranac Lake, New York $______.00 for its general support.”

Residuary Bequest (some portion or all of the residue of one’s estate after all specific bequests are fulfilled):

“I give to Eagle Island, Inc. (Tax ID# 27-4548675) of Saranac Lake, New York all the rest, residue and remainder of my estate for its general support.”

Bequests can also be left to Eagle Island, Inc. in trust under a Will.

If your plans include an estate gift that will leave a legacy for Eagle Island, Inc., please let us know so we can honor you in Eagle Island’s Legacy Circle. All information is confidential.

There are other charitable tools with unique characteristics that can benefit Eagle Island now or in the future.  Some can provide current income to you or future benefits to family members or others.  We can offer general information to start the conversation or put you in contact with an advisor.   A few examples of these tools are:

  • Donor-Advised Funds

  • Charitable Gift Annuities

  • Charitable Remainder Trusts

  • Charitable Lead Trusts

legacy+circle.jpg

Legacy Circle

How to Be a Part of it All

Legacy Circle membership helps ensure the long-term health of Eagle Island, Inc., and the only requirement is to simply inform us that you are planning a gift from your estate to Eagle Island, Inc. You do not have to specify the gift, and there is no minimum gift. You may join in your name or remain an anonymous member. By joining, you help to encourage others to follow your example and leadership in providing for Eagle Island’s future.

To qualify for membership you can do any of the following:

  • Make a bequest to Eagle Island, Inc. through your will or trust

  • Name Eagle Island, Inc. as the beneficiary of a retirement account, a donor advised fund, or a life insurance policy

And provide any of the following:

  1. A signed letter stating specific intention

  2. Complete the Legacy Circle – Notice of Intent Form

  3. A copy of the provision in your will or trust describing the gift to Eagle Island, Inc.

  4. Copy of the beneficiary designation in your Retirement fund or Life insurance policy naming Eagle Island, Inc. as beneficiary