For many of us, there is a compelling desire to make a difference – to leave a lasting impact on our world. As you ponder the future and the mark you will make on it, consider the legacy a gift to Grand Canyon could make in the lives of others.
The Grand Canyon Association provides a number of options that allow you to become a lasting steward of Grand Canyon National Park, making a difference to the future of this inspiring place.
Gifts can be made by a bequest in a will or living trust as well as in a variety of ways that provide tax benefits and income for life to the donor.
To get started today, fill out the Bright Angel Society form (MS Word version or PDF version) and mail or fax it to the Grand Canyon Association at P.O. Box 399, Grand Canyon AZ 86023, (928) 638-2484. For more information, please contact Bonnie O’Donnell at (800) 858-2808 or bodonnell@grandcanyon.org.
Planned giving options
Bequest
One of the simplest ways to make a gift to benefit the Grand Canyon is through your will or living trust. You can name Grand Canyon Association the direct beneficiary of specific assets, a portion of your estate, or your residual estate after payment of other bequests.
Bequests to the Grand Canyon Association are entirely free from federal estate tax and can, therefore, offer substantial estate tax savings. There is no limit on the amount you can leave to Grand Canyon through your will.
If you wish to include the Grand Canyon in your will or living trust, please use the following language after stating the nature of the gift: “ … to the Grand Canyon Association, a non-profit corporation organized and existing under the laws of the State of Arizona, with a current address of P.O. Box 399, Grand Canyon, AZ 86023 and a federal tax identification number of 86-0179548.”
Additional samples of bequest language
The following examples can be tailored to your interests. Be sure to consult your attorney for assistance in making a bequest.
Unrestricted bequest “I give (_______ dollars) (a specific asset) or (___percent) of the rest, residue and remainder of my estate to the Grand Canyon Association, a non-profit corporation organized and existing under the laws of the State of Arizona, with a current address of P.O. Box 399, Grand Canyon, AZ 86023 and a federal tax identification number of 86-0179548, for its general purposes.”
Bequest for a specific purpose “I give (______dollars) (a specific asset) or (___percent) of the rest, residue and remainder of my estate to the Grand Canyon Association, a non-profit corporation organized and existing under the laws of the State of Arizona, with a current address of P.O. Box 399, Grand Canyon, AZ 86023 and a federal tax identification number of 86-0179548, to be used for the following purpose: (state the purpose).”
NOTE: If you wish to restrict your bequest to a specific purpose or program at the Grand Canyon Association, please contact the Office of Development in advance at (800) 858-2808 to make sure the language you use will accomplish your wishes and aligns with the needs of Grand Canyon National Park and the Grand Canyon Association.
Endowment funds for restricted purposes If your bequest will be used to establish an endowment fund for a restricted purpose, we urge you and your counsel to consider adding a “saving clause” to your bequest provision. A “saving clause” is a way to ensure the usefulness and relevance of your bequest in the future as Grand Canyon’s needs and circumstances change. For example: “If, in the future, it is the opinion of the board of directors of the Grand Canyon Association that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which, in the sole opinion of the board of directors, will most nearly accomplish my wishes.”
Retirement Plan Beneficiary Designation
You can name the Grand Canyon Association as a partial or total beneficiary of your Individual Retirement Account (IRA), pension plan, employer retirement plan, Keogh plan, 401(k), 403(b) or other qualified pension plan. This type of gift to the Grand Canyon Association is distributed outside of probate and is entirely free of both federal estate tax and income tax. There is no limit on the amount you can leave to Grand Canyon Association through a retirement plan beneficiary designation.
Life Insurance Gifts
There are several ways you can remember Grand Canyon through your life insurance policies. You can name Grand Canyon Association as a beneficiary of a new or existing policy. You can assign Grand Canyon Association as the owner of a no longer needed paid or partially paid policy. You may also take out a new policy with Grand Canyon Association as the owner.
Gifts of life insurance policies may be accepted upon review and approval of the Grand Canyon Association board of directors.
The Grand Canyon Association reserves the right to cash in any policy it owns at any time at its sole discretion. Of course, you may designate Grand Canyon Association as the revocable beneficiary of a life insurance policy at any time. Such a designation will not, however, provide you with any immediate tax benefits.
Real Estate Gifts
Donations of real estate may be made through a bequest in a will or living trust. Grand Canyon Association will consider gifts of residential, commercial and undeveloped real estate. As with donations of other types of appreciated property, gifts of real estate secure a charitable income tax deduction for the donor based on the fair market value of the property, with no capital gains liability for the transfer.
Acceptance of gifts of real estate must be reviewed and approved by the Grand Canyon Association board of directors.
Appreciated Securities
Giving appreciated stock or bonds to Grand Canyon Association is usually more advantageous than giving cash. If you give appreciated securities held longer than one year, you can deduct their full fair market value, regardless of what you originally paid for them. Your total deduction is limited to 30 percent of your adjusted gross income in any year, but you can take any unused deduction over five succeeding tax years. And, you pay no capital gains tax on the donated securities! With these tax savings, the actual cost of your gift is less than if you made a cash gift.
How to give securities
Securities held by your bank or broker Tell your banker or broker the number of shares of each security you wish to give and instruct the bank or broker to telephone the Grand Canyon Association at (800) 858-2808 for transfer instructions. The date of your gift for valuation purposes is the date on which the securities actually pass from your control, regardless of when you instructed your broker to transfer them. The amount of your gift for gift crediting purposes will be based on the mean market value of the high and the low share price of each security on the date of transfer.
Securities held by you in certificate form
Consult your legal and tax advisors before making any material decisions based on this information.
Please be aware that the information presented here is general in nature. You should contact your professional tax or legal advisor for specific information for structuring a gift. Support the Grand Canyon!
