How to Give
Berkshire Taconic offers many ways of giving that support charitable causes that mean the most to donors. We are happy to discuss any of these ways of giving with you and your clients.Outright Gifts
Donors can make a gift to a fund at Berkshire Taconic at any time for any amount. These funds can also be designated to receive bequests, proceeds of insurance policies or retirement plans. Outright gifts can reduce income and estate taxes and can eliminate capital gains tax on donated property.Bequests
After providing for loved ones, donors may want to consider leaving a portion of their estate to the Berkshire Taconic. A bequest, whether of cash, appreciated stock, real estate or other assets, is often the easiest way to fulfill their charitable vision, and permits them to support them community while retaining complete control over their assets during their lifetime.Bequests can take a number of forms: a specific dollar amount; a percentage of your estate; a residual bequest (i.e., what remains after other bequests are satisfied); or a contingent bequest, whereby Berkshire Taconic receives assets only under certain conditions.
Donors may name a new fund, an existing fund or a specific group or organization to receive their bequest to Berkshire Taconic.
A charitable bequest can dramatically reduce estate and inheritance taxes for your clients' heirs. Because a bequest to Berkshire Taconic allows for an unlimited charitable deduction, and because combined federal and state taxes can exceed two-thirds of the estate, bequests typically generate tax savings that can be passed to the heirs.
In addition to publicly traded securities, closely-held stock, restricted securities and mutual funds are also options for giving.
Charitable Remainder Trusts
Giving through a charitable remainder trust can support Berkshire Taconic’s grantmaking while providing your client, or someone they select, with income for life or a specified number of years. Donors do this by placing cash, property, or other assets irrevocably into a trust, which distributes to the income beneficiary an annual income for life or for the duration of the trust. After death or the end of a specified trust term (up to 20 years), the remainder of the trust is distributed to Berkshire Taconic for the charitable purposes the donor has designated. This flexible gift strategy can be established during your client's lifetime or through a will.A charitable remainder trust provides income tax deductions if established during a donor’s lifetime, or estate tax benefits if established in a will. The donor pays no tax on the capital gain at the time long-term appreciated property, such as stock or real estate, is contributed. This type of trust is an efficient way to convert low- or non-income generating assets into increased cash flow.
Recommended minimum amount to establish a charitable remainder trust with Berkshire Taconic: $150,000.
Charitable Lead Trust
A charitable lead trust allows donors to make significant charitable gifts now while later transferring wealth to their heirs at reduced gift and estate tax rates. With a charitable lead trust, the donor sets up a trust that pays Berkshire Taconic annual payments for their lifetime or for a specified number of years. When the trust terminates, the trust principal is returned to the donor or distributed to the heirs.Your client can choose to pay either a fixed dollar amount (an annuity trust) or a fixed percentage of the trust assets (a unitrust). The payments can be distributed to specified charities or added to the client's donor-advised fund.
The payments to Berkshire Taconic provide a charitable gift deduction, sheltering part of the original trust principal from gift and estate taxes. The trust assets pass to the recipients at reduced tax cost, sometimes even tax-free.
Recommended minimum amount to establish a charitable lead trust with Berkshire Taconic: $150,000